Registered number
03528752
Complete Fabrication Limited
Filleted Accounts
31 January 2024
Complete Fabrication Limited
Registered number: 03528752
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 320,942 345,731
Current assets
Stocks 67,122 77,954
Debtors 4 192,577 213,588
Cash at bank and in hand 265,587 212,286
525,286 503,828
Creditors: amounts falling due within one year 5 (231,457) (237,501)
Net current assets 293,829 266,327
Total assets less current liabilities 614,771 612,058
Creditors: amounts falling due after more than one year 6 (11,477) (49,428)
Provisions for liabilities (54,793) (45,198)
Net assets 548,501 517,432
Capital and reserves
Called up share capital 111 111
Profit and loss account 548,390 517,321
Shareholders' funds 548,501 517,432
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Sebastian Stanley
Director
Approved by the board on 9 April 2024
Complete Fabrication Limited
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 15 15
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 February 2023 135,471 1,076,784 44,228 1,256,483
Additions - 53,294 - 53,294
At 31 January 2024 135,471 1,130,078 44,228 1,309,777
Depreciation
At 1 February 2023 57,544 830,203 23,005 910,752
Charge for the year 5,023 66,064 6,996 78,083
At 31 January 2024 62,567 896,267 30,001 988,835
Net book value
At 31 January 2024 72,904 233,811 14,227 320,942
At 31 January 2023 77,927 246,581 21,223 345,731
4 Debtors 2024 2023
£ £
Trade debtors 154,408 181,590
Other debtors 38,169 31,998
192,577 213,588
5 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 35,283 35,280
Trade creditors 63,325 101,119
Taxation and social security costs 126,924 78,975
Other creditors 5,925 22,127
231,457 237,501
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 11,477 49,428
7 Other information
Complete Fabrication Limited is a private company limited by shares and incorporated in England. Its registered office is:
4b Lion Works
Station Road
Whittlesford
Cambridge
CB22 4WL
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