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REGISTERED NUMBER: 10291062 (England and Wales)















Limitless Welding Ltd

Unaudited Financial Statements for the Year Ended 31 July 2023






Limitless Welding Ltd (Registered number: 10291062)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Limitless Welding Ltd

Company Information
for the Year Ended 31 July 2023







DIRECTOR: L D Dean





REGISTERED OFFICE: 41 Sir Evelyn Road,
Rochester
Kent
ME1 3ND





BUSINESS ADDRESS: Nickelby
Blind Lane
Bredhurst
Kent
ME7 3JR





REGISTERED NUMBER: 10291062 (England and Wales)





ACCOUNTANTS: Aggarwal & Co Limited
Chartered Accountants
5 London Road
Rainham
Gillingham
Kent
ME8 7RG

Limitless Welding Ltd (Registered number: 10291062)

Statement of Financial Position
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,007 2,345

CURRENT ASSETS
Debtors 5 120,540 65,263

CREDITORS
Amounts falling due within one year 6 76,453 54,814
NET CURRENT ASSETS 44,087 10,449
TOTAL ASSETS LESS CURRENT LIABILITIES 47,094 12,794

CREDITORS
Amounts falling due after more than one
year

7

(7,727

)

(11,333

)

PROVISIONS FOR LIABILITIES (649 ) (446 )
NET ASSETS 38,718 1,015

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 37,718 15
SHAREHOLDERS' FUNDS 38,718 1,015

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

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

Limitless Welding Ltd (Registered number: 10291062)

Statement of Financial Position - continued
31 July 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 5 April 2024 and were signed by:





L D Dean - Director


Limitless Welding Ltd (Registered number: 10291062)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Limitless Welding Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Income recognition
Income represents the fair value of consideration received or receivable derived from the provision of goods and services to customers during the year (excluding value added tax) and is recognised when the company becomes entitled to it, usually on the rendering of an invoice.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 33% on reducing balance and 25% on reducing balance

Financial instruments
The Company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties. Basic financial instruments are recognised at amortised cost.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Limitless Welding Ltd (Registered number: 10291062)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2022 19,076
Additions 1,417
At 31 July 2023 20,493
DEPRECIATION
At 1 August 2022 16,731
Charge for year 755
At 31 July 2023 17,486
NET BOOK VALUE
At 31 July 2023 3,007
At 31 July 2022 2,345

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 66,043 16,495
Other debtors 54,497 48,768
120,540 65,263

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 13,576 16,151
Trade creditors - 118
Taxation and social security 60,387 36,146
Other creditors 2,490 2,399
76,453 54,814

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 7,727 11,333

Limitless Welding Ltd (Registered number: 10291062)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 9,909 12,151

The director has provided a personal guarantee to secure the company's bank overdraft liabilities to a maximum of £15,000.

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2023 and 31 July 2022:

2023 2022
£    £   
L D Dean and L D Dean
Balance outstanding at start of year 21,087 16,179
Amounts advanced - 4,908
Amounts repaid (377 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 20,710 21,087