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REGISTERED NUMBER: 04430287 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

Bond Fabrications Limited

Bond Fabrications Limited (Registered number: 04430287)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Bond Fabrications Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: M J Halliwell
M A Halliwell





REGISTERED OFFICE: Suite 5 Corum 2
Corum Office Park
Crown Way
Warmley
Bristol
BS30 8FJ





REGISTERED NUMBER: 04430287 (England and Wales)





ACCOUNTANTS: Verinder Powell Associates Ltd
Suite 5 Corum 2
Corum Office Park
Crown Way
Warmley
Bristol
BS30 8FJ

Bond Fabrications Limited (Registered number: 04430287)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 34,439 25,787
34,439 25,787

CURRENT ASSETS
Stocks 73,178 89,145
Debtors 6 87,383 75,449
Cash at bank 63,786 61,726
224,347 226,320
CREDITORS
Amounts falling due within one year 7 157,878 136,767
NET CURRENT ASSETS 66,469 89,553
TOTAL ASSETS LESS CURRENT LIABILITIES 100,908 115,340

CREDITORS
Amounts falling due after more than one
year

8

(21,530

)

(36,246

)

PROVISIONS FOR LIABILITIES (9,640 ) (6,952 )
NET ASSETS 69,738 72,142

CAPITAL AND RESERVES
Called up share capital 50,100 50,100
Retained earnings 19,638 22,042
69,738 72,142

Bond Fabrications Limited (Registered number: 04430287)

Balance Sheet - continued
31 October 2023


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

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

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 April 2024 and were signed on its behalf by:





M J Halliwell - Director


Bond Fabrications Limited (Registered number: 04430287)

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

1. STATUTORY INFORMATION

Bond 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.

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.

There have been no material departures from the Financial Reporting Standard 102 1A.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned members of the group.

Turnover
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
- the amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity;
- the entity retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the services provided;
- the cost incurred or to be incurred in respect of the transaction can be reliably measured;
- all of the significant risks and rewards of ownership have been transferred to the customer; and
- specific criteria have been met for each of the company's activities.

Goodwill
Goodwill has been amortised over its estimated useful life of five years.

Bond Fabrications Limited (Registered number: 04430287)

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

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - 20% on cost
Furniture, fittings and equipment- 20% on cost
Motor vehicles- 20% on cost

Government grants
Government grants have been recognised on an accruals basis and have been recognised in the same period in which the related expense has been incurred.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads incurred in bringing inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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 balance sheet date.


Bond Fabrications Limited (Registered number: 04430287)

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

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 profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 178,077
AMORTISATION
At 1 November 2022
and 31 October 2023 178,077
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 -

Bond Fabrications Limited (Registered number: 04430287)

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

5. TANGIBLE FIXED ASSETS
Furniture,
fittings
Plant and and Motor
machinery equipment vehicles Totals
£    £    £    £   
COST
At 1 November 2022 90,147 17,967 19,250 127,364
Additions 17,500 3,432 - 20,932
Disposals (275 ) (589 ) - (864 )
At 31 October 2023 107,372 20,810 19,250 147,432
DEPRECIATION
At 1 November 2022 70,509 12,418 18,650 101,577
Charge for year 9,882 2,248 150 12,280
Eliminated on disposal (275 ) (589 ) - (864 )
At 31 October 2023 80,116 14,077 18,800 112,993
NET BOOK VALUE
At 31 October 2023 27,256 6,733 450 34,439
At 31 October 2022 19,638 5,549 600 25,787

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 29,509 38,894
Amounts owed by group undertakings 29,844 29,370
Other debtors 28,030 7,185
87,383 75,449

Bond Fabrications Limited (Registered number: 04430287)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 13,586 14,014
Hire purchase contracts - 222
Trade creditors 34,472 33,646
Taxation and social security 15,831 11,838
Other creditors 93,989 77,047
157,878 136,767

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans 21,530 36,246

Included in bank loans in notes 7 and 8 is a combined balance of £35,116 (2022 - £49,275) which is guaranteed by the government and unsecured.

9. SECURED DEBTS

The following secured debts are included within creditors:

31.10.23 31.10.22
£    £   
Hire purchase contracts - 222
Bank loan - 986
- 1,208

The hire purchase liabilities are secured against the assets to which they relate.

The bank loan is secured by personal guarantee of the directors.

10. PENSION COMMITMENTS

The entity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the entity in an independently administered fund. Contributions totalling £Nil (2022 - £755) were payable to the fund at the reporting date.

Bond Fabrications Limited (Registered number: 04430287)

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

11. OFF BALANCE SHEET COMMITMENTS

At the year end the company had future minimum lease payments due under non-cancellable operating leases totalling £183,948 (2022 - £214,206).

12. RELATED PARTY DISCLOSURES

Loans from related parties



Key
management


Total
2023 £ £
At start of period 762 762
Advanced 24,238 24,238
Repaid (25,000 ) (25,000 )
At end of period - -


Key
management


Total
2022 £ £
At start of period 3,595 3,595
Advanced 26,824 26,824
Repaid (29,657 ) (29,657 )
At end of period 762 762

The loans from key management are interest free and repayable on demand.

Loans to related parties



Key
management


Total
2023 £ £
At start of period - -
Advanced 12,064 12,064
Repaid - -
At end of period 12,064 12,064

The loans to key management are interest free and repayable on demand.