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REGISTERED NUMBER: 03148056 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

FAIRBROTHER & GRIMSHAW ENGINEERING LTD

FAIRBROTHER & GRIMSHAW ENGINEERING LTD (REGISTERED NUMBER: 03148056)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FAIRBROTHER & GRIMSHAW ENGINEERING LTD

COMPANY INFORMATION
for the Year Ended 30 September 2023







DIRECTORS: N Grimshaw
Mrs L M E Fairbrother





SECRETARY: Mrs L M E Fairbrother





REGISTERED OFFICE: Cherry Tree Mill
Preston Old Road
Cherry Tree
Blackburn
Lancashire
BB2 5LX





REGISTERED NUMBER: 03148056 (England and Wales)





ACCOUNTANTS: Blaeford Gordon & Company Ltd
101 Galgate
Barnard Castle
Co. Durham
DL12 8ES

FAIRBROTHER & GRIMSHAW ENGINEERING LTD (REGISTERED NUMBER: 03148056)

BALANCE SHEET
30 September 2023

30.9.23 30.9.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 328,567 366,979

CURRENT ASSETS
Debtors 5 174,075 159,113
Cash at bank 99,267 169,144
273,342 328,257
CREDITORS
Amounts falling due within one year 6 (113,414 ) (122,581 )
NET CURRENT ASSETS 159,928 205,676
TOTAL ASSETS LESS CURRENT
LIABILITIES

488,495

572,655

CREDITORS
Amounts falling due after more than one
year

7

(49,325

)

(90,444

)

PROVISIONS FOR LIABILITIES 10 (82,142 ) (69,726 )
NET ASSETS 357,028 412,485

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 356,928 412,385
SHAREHOLDERS' FUNDS 357,028 412,485

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

FAIRBROTHER & GRIMSHAW ENGINEERING LTD (REGISTERED NUMBER: 03148056)

BALANCE SHEET - continued
30 September 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 November 2023 and were signed on its behalf by:




Mrs L M E Fairbrother - Director



N Grimshaw - Director


FAIRBROTHER & GRIMSHAW ENGINEERING LTD (REGISTERED NUMBER: 03148056)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

Fairbrother & Grimshaw Engineering Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

FAIRBROTHER & GRIMSHAW ENGINEERING LTD (REGISTERED NUMBER: 03148056)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 12 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 October 2022
and 30 September 2023 912,617 42,822 81,874 1,037,313
DEPRECIATION
At 1 October 2022 575,278 24,637 70,419 670,334
Charge for year 33,732 1,818 2,862 38,412
At 30 September 2023 609,010 26,455 73,281 708,746
NET BOOK VALUE
At 30 September 2023 303,607 16,367 8,593 328,567
At 30 September 2022 337,339 18,185 11,455 366,979

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 October 2022
and 30 September 2023 350,856 36,998 387,854
DEPRECIATION
At 1 October 2022 145,807 31,614 177,421
Charge for year 20,504 1,346 21,850
At 30 September 2023 166,311 32,960 199,271
NET BOOK VALUE
At 30 September 2023 184,545 4,038 188,583
At 30 September 2022 205,049 5,384 210,433

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade debtors 171,480 156,518
Prepayments 2,595 2,595
174,075 159,113

FAIRBROTHER & GRIMSHAW ENGINEERING LTD (REGISTERED NUMBER: 03148056)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Hire purchase contracts 28,225 30,711
Trade creditors 23,805 41,901
Tax 11,760 26,425
Social security and other taxes 10,804 4,242
VAT 28,270 15,502
Accrued expenses 10,550 3,800
113,414 122,581

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.23 30.9.22
£    £   
Other loans (see note 8) 18,667 24,561
Hire purchase contracts 30,658 65,883
49,325 90,444

8. LOANS

An analysis of the maturity of loans is given below:

30.9.23 30.9.22
£    £   
Amounts falling due between one and two years:
Bounce Back loan 18,667 24,561

9. SECURED DEBTS

The following secured debts are included within creditors:

30.9.23 30.9.22
£    £   
Hire purchase contracts 58,883 96,594

Hire purchase creditors are secured by a charge over the asset to which the finance relates.

10. PROVISIONS FOR LIABILITIES
30.9.23 30.9.22
£    £   
Deferred tax 82,142 69,726

Deferred
tax
£   
Balance at 1 October 2022 69,726
Charge to Income Statement during year 12,416
Balance at 30 September 2023 82,142

FAIRBROTHER & GRIMSHAW ENGINEERING LTD (REGISTERED NUMBER: 03148056)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2023

11. RELATED PARTY DISCLOSURES

The company operates from premises owned by Fairbrother and Grimshaw Retirement Benefit Scheme and pays rent at open market value.

12. ULTIMATE CONTROLLING PARTY

The controlling party is Mrs L M E Fairbrother.

Mrs L Fairbrother controls the company by virtue of her majority holding of the issued share capital.