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REGISTERED NUMBER: 03923158 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

ADMIRAL WELDING LIMITED

ADMIRAL WELDING LIMITED (REGISTERED NUMBER: 03923158)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ADMIRAL WELDING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTOR: A V Follett





SECRETARY: Tayler Bradshaw Limited





REGISTERED OFFICE: Cambridge House
16 High Street
Saffron Walden
Essex
CB10 1AX





REGISTERED NUMBER: 03923158 (England and Wales)





ACCOUNTANTS: Tayler Bradshaw
Cambridge House
16 High Street
Saffron Walden
Essex
CB10 1AX

ADMIRAL WELDING LIMITED (REGISTERED NUMBER: 03923158)

BALANCE SHEET
28 FEBRUARY 2023

28/2/23 28/2/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 37,227 41,223

CURRENT ASSETS
Stocks 73,500 10,000
Debtors 5 480,108 262,863
Cash at bank 46,870 417
600,478 273,280
CREDITORS
Amounts falling due within one year 6 514,556 224,658
NET CURRENT ASSETS 85,922 48,622
TOTAL ASSETS LESS CURRENT LIABILITIES 123,149 89,845

CREDITORS
Amounts falling due after more than one
year

7

(20,247

)

(6,083

)

PROVISIONS FOR LIABILITIES (1,912 ) -
NET ASSETS 100,990 83,762

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 100,988 83,760
SHAREHOLDERS' FUNDS 100,990 83,762

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

ADMIRAL WELDING LIMITED (REGISTERED NUMBER: 03923158)

BALANCE SHEET - continued
28 FEBRUARY 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 director and authorised for issue on 29 November 2023 and were signed by:





A V Follett - Director


ADMIRAL WELDING LIMITED (REGISTERED NUMBER: 03923158)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Admiral Welding 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.

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 etc - 25% on reducing balance

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
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.

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

ADMIRAL WELDING LIMITED (REGISTERED NUMBER: 03923158)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

2. ACCOUNTING POLICIES - continued

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 13 (2022 - 13 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2022 212,370
Additions 34,343
Disposals (55,770 )
At 28 February 2023 190,943
DEPRECIATION
At 1 March 2022 171,147
Charge for year 9,948
Eliminated on disposal (27,379 )
At 28 February 2023 153,716
NET BOOK VALUE
At 28 February 2023 37,227
At 28 February 2022 41,223

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 March 2022 43,240
Additions 33,033
Disposals (43,240 )
At 28 February 2023 33,033
DEPRECIATION
At 1 March 2022 24,998
Charge for year 5,885
Eliminated on disposal (25,378 )
At 28 February 2023 5,505
NET BOOK VALUE
At 28 February 2023 27,528
At 28 February 2022 18,242

ADMIRAL WELDING LIMITED (REGISTERED NUMBER: 03923158)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28/2/23 28/2/22
£    £   
Trade debtors 335,658 163,139
Other debtors 144,450 99,724
480,108 262,863

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28/2/23 28/2/22
£    £   
Bank loans and overdrafts 3,386 7,631
Hire purchase contracts 6,270 1,153
Trade creditors 226,810 182,551
Taxation and social security 31,437 20,398
Other creditors 246,653 12,925
514,556 224,658

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
28/2/23 28/2/22
£    £   
Bank loans 2,697 6,083
Hire purchase contracts 17,550 -
20,247 6,083