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REGISTERED NUMBER: 02810944 (England and Wales)















Financial Statements for the Year Ended 31 January 2024

for

Touchline Fabrications Limited

Touchline Fabrications Limited (Registered number: 02810944)

Contents of the Financial Statements
for the Year Ended 31 January 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Touchline Fabrications Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: S W Hardacre
J M Hardacre
D A Hopkins





SECRETARY: J M Hardacre





REGISTERED OFFICE: Unit C40
Red Scar Business Park
Longridge Road
Preston
Lancashire
PR2 5NP





REGISTERED NUMBER: 02810944 (England and Wales)





ACCOUNTANTS: Bennett Kirkhope Smith
Chartered Certified Accountants
Suites 5 & 6 The Printworks
Hey Road
Barrow
Clitheroe
Lancashire
BB7 9WB

Touchline Fabrications Limited (Registered number: 02810944)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 135,529 110,695

CURRENT ASSETS
Stocks 5 1,000 1,000
Debtors 6 208,662 575,737
Cash at bank and in hand 1,052,670 1,218,734
1,262,332 1,795,471
CREDITORS
Amounts falling due within one year 7 451,955 613,477
NET CURRENT ASSETS 810,377 1,181,994
TOTAL ASSETS LESS CURRENT
LIABILITIES

945,906

1,292,689

PROVISIONS FOR LIABILITIES 8 32,560 25,285
NET ASSETS 913,346 1,267,404

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 913,246 1,267,304
SHAREHOLDERS' FUNDS 913,346 1,267,404

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

Touchline Fabrications Limited (Registered number: 02810944)

Balance Sheet - continued
31 January 2024


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 2 April 2024 and were signed on its behalf by:





J M Hardacre - Director


Touchline Fabrications Limited (Registered number: 02810944)

Notes to the Financial Statements
for the Year Ended 31 January 2024


1. STATUTORY INFORMATION

Touchline Fabrications 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 and profit recognition
Turnover comprises the value of work performed, goods sold and services provided excluding Value Added Tax. Amounts in respect of contracts included in turnover, net of payments received on account, are shown in debtors as amounts recoverable on contracts. Cash received in excess of the value of work done is shown in creditors as payments on account. An appropriate proportion of the anticipated contract profit is recognised in the profit and loss account based on the stage of completion of the work and the expected end of life outcome. Provision is made for anticipated contract losses. Pre-contract costs incurred before it is virtually certain that a contract will be awarded are charged to the profit and loss account. Once virtually certain of contract award, costs are held as amounts recoverable on contracts and form part of the accounting for the contract as a whole.

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 - 15% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% 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 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.


Touchline Fabrications Limited (Registered number: 02810944)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


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.

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 the profit and loss account in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 12 ) .

Touchline Fabrications Limited (Registered number: 02810944)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 February 2023 139,729 72,685 130,150 24,968 367,532
Additions 24,855 3,887 18,500 1,214 48,456
Disposals - - (8,950 ) - (8,950 )
At 31 January 2024 164,584 76,572 139,700 26,182 407,038
DEPRECIATION
At 1 February 2023 115,855 68,497 50,695 21,790 256,837
Charge for year 4,762 1,019 16,077 1,149 23,007
Eliminated on disposal - - (8,335 ) - (8,335 )
At 31 January 2024 120,617 69,516 58,437 22,939 271,509
NET BOOK VALUE
At 31 January 2024 43,967 7,056 81,263 3,243 135,529
At 31 January 2023 23,874 4,188 79,455 3,178 110,695

5. STOCKS
31.1.24 31.1.23
£    £   
Stocks 1,000 1,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 111,505 456,104
VAT 61,356 91,294
Prepayments 35,801 28,339
208,662 575,737

Touchline Fabrications Limited (Registered number: 02810944)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade creditors 189,586 418,200
Corporation tax 240,799 172,487
Social security and other taxes 10,037 10,282
Accrued expenses 11,533 12,508
451,955 613,477

8. PROVISIONS FOR LIABILITIES
31.1.24 31.1.23
£    £   
Deferred tax 32,560 25,285

Deferred
tax
£   
Balance at 1 February 2023 25,285
Charge to Statement of Income and Retained Earnings
during year

7,275
Balance at 31 January 2024 32,560

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
10,000 Ordinary £0.01 100 100

10. RESERVES
Retained
earnings
£   

At 1 February 2023 1,267,304
Profit for the year 777,942
Capital contribution to EOT (1,132,000 )
At 31 January 2024 913,246

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is WHCOTFL Limited, an employee ownership trust.

Touchline Fabrications Limited (Registered number: 02810944)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


12. SHARE-BASED PAYMENT TRANSACTIONS

An option to purchase up to a total of 2500 A Ordinary shares at an exercise price of £18.51 a share is held by two employees. The option can only be exercised at the earlier of
1. an offer is made to purchase the issued share capital of the Company
2. the deferred consideration is repaid in full
3. 27 November 2025