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REGISTERED NUMBER: 02397039 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

PROFAB (COVENTRY) LIMITED

PROFAB (COVENTRY) LIMITED (REGISTERED NUMBER: 02397039)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PROFAB (COVENTRY) LIMITED

COMPANY INFORMATION
for the year ended 30 June 2023







DIRECTORS: Mrs L E Greves
Mr K J Woodward





REGISTERED OFFICE: Unit 1, Brindley Road South
Bayton Road Industrial Estate
Exhall
Coventry
West Midlands
CV7 9EP





REGISTERED NUMBER: 02397039 (England and Wales)





ACCOUNTANTS: LDP Luckmans
1110 Elliott Court
Coventry Business Park
Herald Avenue
Coventry
West Midlands
CV5 6UB

PROFAB (COVENTRY) LIMITED (REGISTERED NUMBER: 02397039)

BALANCE SHEET
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 659,320 561,613

CURRENT ASSETS
Stocks 5 37,500 35,000
Debtors 6 142,492 174,243
Cash at bank and in hand 126,450 89,600
306,442 298,843
CREDITORS
Amounts falling due within one year 7 174,633 141,147
NET CURRENT ASSETS 131,809 157,696
TOTAL ASSETS LESS CURRENT
LIABILITIES

791,129

719,309

CREDITORS
Amounts falling due after more than one
year

8

(322,427

)

(296,539

)

PROVISIONS FOR LIABILITIES 10 (46,840 ) (27,851 )
NET ASSETS 421,862 394,919

CAPITAL AND RESERVES
Called up share capital 11 50 50
Capital redemption reserve 50 50
Retained earnings 421,762 394,819
SHAREHOLDERS' FUNDS 421,862 394,919

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

PROFAB (COVENTRY) LIMITED (REGISTERED NUMBER: 02397039)

BALANCE SHEET - continued
30 June 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 November 2023 and were signed on its behalf by:





Mrs L E Greves - Director


PROFAB (COVENTRY) LIMITED (REGISTERED NUMBER: 02397039)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 June 2023

1. STATUTORY INFORMATION

Profab (Coventry) Limited 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.

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 3 to 15 years straight line
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Freehold property is recognised on a fair value basis in accordance with the revaluation model.

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 Statement of Income and Retained Earnings, 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.


PROFAB (COVENTRY) LIMITED (REGISTERED NUMBER: 02397039)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2023

2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 July 2022 406,778 541,817 37,317
Additions - 101,949 34,433
At 30 June 2023 406,778 643,766 71,750
DEPRECIATION
At 1 July 2022 4,149 405,341 25,192
Charge for year - 31,892 4,008
At 30 June 2023 4,149 437,233 29,200
NET BOOK VALUE
At 30 June 2023 402,629 206,533 42,550
At 30 June 2022 402,629 136,476 12,125

PROFAB (COVENTRY) LIMITED (REGISTERED NUMBER: 02397039)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2023

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2022 31,294 1,077 1,018,283
Additions - - 136,382
At 30 June 2023 31,294 1,077 1,154,665
DEPRECIATION
At 1 July 2022 21,629 359 456,670
Charge for year 2,416 359 38,675
At 30 June 2023 24,045 718 495,345
NET BOOK VALUE
At 30 June 2023 7,249 359 659,320
At 30 June 2022 9,665 718 561,613

5. STOCKS
2023 2022
£    £   
Stocks 37,500 35,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 132,097 165,279
Other debtors 10,395 8,964
142,492 174,243

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 56,864 41,680
Trade creditors 60,281 48,571
Taxation and social security 40,607 46,536
Other creditors 16,881 4,360
174,633 141,147

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 322,427 296,539

PROFAB (COVENTRY) LIMITED (REGISTERED NUMBER: 02397039)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 379,291 338,219

Bank loans are secured by way of a fixed and floating charge over the company's assets.

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 46,840 27,851

Deferred
tax
£   
Balance at 1 July 2022 27,851
Accelerated capital allowances 18,989
Balance at 30 June 2023 46,840

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
50 Ordinary £1 50 50