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REGISTERED NUMBER: 09503290 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Fina Welding Fabrications Ltd

Fina Welding Fabrications Ltd (Registered number: 09503290)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Fina Welding Fabrications Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTORS: V Marrone
Mrs M B Marrone
J G Marrone





REGISTERED OFFICE: Unit 36 Corringham Road Industrial Est
Gainsborough
Lincolnshire
DN21 1QB





REGISTERED NUMBER: 09503290 (England and Wales)





ACCOUNTANTS: ABC Accounting Services
1 Willoughton Place
Wharton Close
Gainsborough
Lincolnshire
DN21 1EB

Fina Welding Fabrications Ltd (Registered number: 09503290)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 53,605 58,871

CURRENT ASSETS
Stocks 45,000 47,030
Debtors 5 126,315 78,508
Cash at bank and in hand 678 2,494
171,993 128,032
CREDITORS
Amounts falling due within one year 6 157,787 142,915
NET CURRENT ASSETS/(LIABILITIES) 14,206 (14,883 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

67,811

43,988

CREDITORS
Amounts falling due after more than one
year

7

(19,993

)

(26,781

)

PROVISIONS FOR LIABILITIES (10,185 ) -
NET ASSETS 37,633 17,207

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 37,533 17,107
37,633 17,207

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

Fina Welding Fabrications Ltd (Registered number: 09503290)

Balance Sheet - continued
31 March 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 10 November 2023 and were signed on its behalf by:




V Marrone - Director



J G Marrone - Director


Fina Welding Fabrications Ltd (Registered number: 09503290)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Fina Welding Fabrications 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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 6 ) .

Fina Welding Fabrications Ltd (Registered number: 09503290)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 58,801 12,803 12,783 6,924 91,311
Additions 5,833 - - 479 6,312
At 31 March 2023 64,634 12,803 12,783 7,403 97,623
DEPRECIATION
At 1 April 2022 17,951 5,638 4,159 4,692 32,440
Charge for year 7,003 1,075 2,156 1,344 11,578
At 31 March 2023 24,954 6,713 6,315 6,036 44,018
NET BOOK VALUE
At 31 March 2023 39,680 6,090 6,468 1,367 53,605
At 31 March 2022 40,850 7,165 8,624 2,232 58,871

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 122,710 74,956
Prepayments 3,605 3,552
126,315 78,508

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 7,370 25,123
Trade creditors 49,537 67,127
Tax 3,845 2,291
Social security and other taxes 13,035 6,112
VAT 72,007 40,988
Other creditors 363 160
Directors' current accounts 10,980 464
Accrued expenses 650 650
157,787 142,915

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans - 1-2 years 7,000 7,000
Bank loans - 2-5 years 12,993 19,781
19,993 26,781

Fina Welding Fabrications Ltd (Registered number: 09503290)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

8. RELATED PARTY DISCLOSURES

During the year, total dividends of £10,000 were paid to the directors .

9. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors. At the balance sheet date the amount owed to the directors by the company was £10,980 (2022 - £464).