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REGISTERED NUMBER: 02407664 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 April 2023

for

Project Fabrications (Newbury) Limited

Project Fabrications (Newbury) Limited (Registered number: 02407664)






Contents of the Financial Statements
for the Year Ended 30 April 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Project Fabrications (Newbury) Limited

Company Information
for the Year Ended 30 April 2023







DIRECTORS: B A S Andrews
R P Andrews





REGISTERED OFFICE: Oak Apple House
North Street
Milborne Port
Sherborne
DT9 5EW





BUSINESS ADDRESS: Unit 10 Galloway Centre
Hambridge Lane
Newbury
RG14 5TL





REGISTERED NUMBER: 02407664 (England and Wales)





ACCOUNTANTS: Silbury Accountants Limited
Chartered Accountants
Oak Apple House
North Street
Milborne Port
Sherborne
DT9 5EW

Project Fabrications (Newbury) Limited (Registered number: 02407664)

Statement of Financial Position
30 April 2023

30.4.23 30.4.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 6,600 9,900
Property, plant and equipment 5 11,267 13,655
17,867 23,555

CURRENT ASSETS
Inventories 4,000 4,000
Debtors 6 35,324 38,053
Cash at bank 22,671 20,004
61,995 62,057
CREDITORS
Amounts falling due within one year 7 29,086 39,693
NET CURRENT ASSETS 32,909 22,364
TOTAL ASSETS LESS CURRENT
LIABILITIES

50,776

45,919

PROVISIONS FOR LIABILITIES 2,141 2,594
NET ASSETS 48,635 43,325

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 48,633 43,323
SHAREHOLDERS' FUNDS 48,635 43,325

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

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

Project Fabrications (Newbury) Limited (Registered number: 02407664)

Statement of Financial Position - continued
30 April 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 22 November 2023 and were signed on its behalf by:




B A S Andrews - Director



R P Andrews - Director


Project Fabrications (Newbury) Limited (Registered number: 02407664)

Notes to the Financial Statements
for the Year Ended 30 April 2023

1. STATUTORY INFORMATION

Project Fabrications (Newbury) 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
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 etc - 20% on reducing balance

Stocks
Inventories 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Project Fabrications (Newbury) Limited (Registered number: 02407664)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

2. ACCOUNTING POLICIES - continued

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.

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 4 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2022
and 30 April 2023 33,000
AMORTISATION
At 1 May 2022 23,100
Charge for year 3,300
At 30 April 2023 26,400
NET BOOK VALUE
At 30 April 2023 6,600
At 30 April 2022 9,900

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 May 2022 72,911
Additions 429
At 30 April 2023 73,340
DEPRECIATION
At 1 May 2022 59,256
Charge for year 2,817
At 30 April 2023 62,073
NET BOOK VALUE
At 30 April 2023 11,267
At 30 April 2022 13,655

Project Fabrications (Newbury) Limited (Registered number: 02407664)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade debtors 19,390 19,839
Other debtors 15,934 18,214
35,324 38,053

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Bank loans and overdrafts - 14,937
Trade creditors 13,724 8,456
Taxation and social security 12,470 13,481
Other creditors 2,892 2,819
29,086 39,693

8. LEASING AGREEMENTS
The total amount due under non-cancellable operating leases is £51,975 (2022 £13,500).

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.23 30.4.22
value: £    £   
2 ordinary 1 2 2

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2023 and 30 April 2022:

30.4.23 30.4.22
£    £   
B A S Andrews
Balance outstanding at start of year 7,907 8,888
Amounts advanced 20,756 21,479
Amounts repaid (22,781 ) (22,460 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 5,882 7,907

R P Andrews
Balance outstanding at start of year 7,221 9,062
Amounts advanced 20,754 21,370
Amounts repaid (22,088 ) (23,211 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 5,887 7,221

Interest totalling £191 has been charged on the overdrawn loan accounts at the rate of 2%.

Project Fabrications (Newbury) Limited (Registered number: 02407664)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £16,000 (2022 - £18,000) were paid to the directors .

12. POST BALANCE SHEET EVENTS

An interim dividend for £24,000 was declared 21 November 2023.