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REGISTERED NUMBER: 03072832 (England and Wales)















NU-WELD ENGINEERING SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023






NU-WELD ENGINEERING SERVICES LIMITED (REGISTERED NUMBER: 03072832)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023










Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


NU-WELD ENGINEERING SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTORS: Mr. R.M. Shimwell
Mr. S.P. Adams
Mr. J.R. Shimwell



SECRETARY: Mr. R.M. Shimwell



REGISTERED OFFICE: Hereward Rise
Halesowen
West Midlands
B62 8AN



REGISTERED NUMBER: 03072832 (England and Wales)



ACCOUNTANTS: Folkes Worton LLP
15-17 Church Street
Stourbridge
West Midlands
DY8 1LU



BANKERS: The Co-Operative Bank
PO Box 250
Skelmerdale
England
WN8 6WT

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
NU-WELD ENGINEERING SERVICES LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Nu-Weld Engineering Services Limited for the year ended 30 September 2023 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Nu-Weld Engineering Services Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Nu-Weld Engineering Services Limited and state those matters that we have agreed to state to the Board of Directors of Nu-Weld Engineering Services Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Nu-Weld Engineering Services Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Nu-Weld Engineering Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Nu-Weld Engineering Services Limited. You consider that Nu-Weld Engineering Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Nu-Weld Engineering Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Folkes Worton LLP
15-17 Church Street
Stourbridge
West Midlands
DY8 1LU


11 December 2023

NU-WELD ENGINEERING SERVICES LIMITED (REGISTERED NUMBER: 03072832)

STATEMENT OF FINANCIAL POSITION
30 SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,819 -

CURRENT ASSETS
Stocks 5 51,848 50,598
Debtors 6 372,076 736,607
Cash at bank and in hand 307,313 190,268
731,237 977,473
CREDITORS
Amounts falling due within one year 7 462,323 549,671
NET CURRENT ASSETS 268,914 427,802
TOTAL ASSETS LESS CURRENT
LIABILITIES

273,733

427,802

CREDITORS
Amounts falling due after more than one year 8 (17,391 ) (27,473 )

PROVISIONS FOR LIABILITIES (916 ) -
NET ASSETS 255,426 400,329

CAPITAL AND RESERVES
Called up share capital 104 104
Retained earnings 255,322 400,225
SHAREHOLDERS' FUNDS 255,426 400,329

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.

NU-WELD ENGINEERING SERVICES LIMITED (REGISTERED NUMBER: 03072832)

STATEMENT OF FINANCIAL POSITION - 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 11 December 2023 and were signed on its behalf by:





Mr. R.M. Shimwell - Director


NU-WELD ENGINEERING SERVICES LIMITED (REGISTERED NUMBER: 03072832)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023


1. STATUTORY INFORMATION

Nu-Weld Engineering Services 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 recognised at the fair value of the consideration received or receivable for goods and engineering services provided in the normal course of business and is shown net of value added tax. The fair value of consideration takes into account trade discounts.

Revenue from the sale of goods is recognised when:
- the significant risks and rewards of ownership of the goods have passed to the buyer;
- the amount of the revenue can be measured reliably;
- it is probable that the economic benefits associated with the transaction will flow to the entity; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets
Tangible fixed assets are initially measured at cost. After initial recognition, tangible fixed assets are measured at cost less any accumulated depreciation and any accumulated impairment losses.

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-15% on reducing balance
Fixtures and fittings-15% on reducing balance
Motor vehicles-25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the disposal proceeds and the carrying value of the asset and is credited or charged to the income statement.

Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in first out basis.

Work in progress represents goods supplied and engineering services performed during the period but not billed until after the accounting date and is valued at the fair value of the consideration receivable in the normal course of business.

At each reporting date, an assessment is made for impairment, being any excess of the carrying amount of stocks and work in progress over its estimated chargeable price less costs to complete. The impairment loss, and any subsequent reversal, is recognised in the income statement.


NU-WELD ENGINEERING SERVICES LIMITED (REGISTERED NUMBER: 03072832)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the profit and loss account over the period to which they relate.

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 - 11 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
Additions 5,670
At 30 September 2023 5,670
DEPRECIATION
Charge for year 851
At 30 September 2023 851
NET BOOK VALUE
At 30 September 2023 4,819

NU-WELD ENGINEERING SERVICES LIMITED (REGISTERED NUMBER: 03072832)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


5. STOCKS
2023 2022
£    £   
Work in progress 51,848 50,598

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 226,614 610,670
Other debtors 145,462 125,937
372,076 736,607

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,016 9,752
Trade creditors 150,030 93,314
Amounts owed to group undertakings 150,000 100,000
Taxation and social security 3,122 39,042
Other creditors 149,155 307,563
462,323 549,671

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 17,391 27,473

9. RELATED PARTY DISCLOSURES

All of the shares in issue in Nu-Weld Engineering Services Limited are owned by the parent company Nu-Weld Engineering Services Holdings Limited.

At the year end Nu-Weld Engineering Services Limited owed £150,000 (2022: £100,000) to Nu-Weld Engineering Services Holdings Limited.