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REGISTERED NUMBER: 06921388 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2023

for

Severn Fabrications Limited

Severn Fabrications Limited (Registered number: 06921388)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Severn Fabrications Limited

Company Information
for the Year Ended 31 August 2023







DIRECTOR: G S Morris





REGISTERED OFFICE: Cross Chambers
9 High Street
Newtown
Powys
SY16 2NY





REGISTERED NUMBER: 06921388 (England and Wales)





ACCOUNTANTS: Morgan Griffiths LLP
Chartered Accountants
Cross Chambers
9 High Street
Newtown
Powys
SY16 2NY

Severn Fabrications Limited (Registered number: 06921388)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 43,021 54,242

CURRENT ASSETS
Stocks 30,000 19,931
Debtors 5 116,010 225,279
Cash at bank 330,426 374,715
476,436 619,925
CREDITORS
Amounts falling due within one year 6 277,336 395,086
NET CURRENT ASSETS 199,100 224,839
TOTAL ASSETS LESS CURRENT
LIABILITIES

242,121

279,081

CREDITORS
Amounts falling due after more than one
year

7

(36,217

)

(60,977

)

PROVISIONS FOR LIABILITIES (8,174 ) (10,306 )
NET ASSETS 197,730 207,798

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 197,728 207,796
197,730 207,798

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

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

Severn Fabrications Limited (Registered number: 06921388)

Balance Sheet - continued
31 August 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 December 2023 and were signed by:





G S Morris - Director


Severn Fabrications Limited (Registered number: 06921388)

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


1. STATUTORY INFORMATION

Severn 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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
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 etc - 25% on cost and 10% on cost

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.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Severn Fabrications Limited (Registered number: 06921388)

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


2. ACCOUNTING POLICIES - continued

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 5 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2022 282,863
Additions 10,577
At 31 August 2023 293,440
DEPRECIATION
At 1 September 2022 228,621
Charge for year 21,798
At 31 August 2023 250,419
NET BOOK VALUE
At 31 August 2023 43,021
At 31 August 2022 54,242

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 September 2022 68,994
Transfer to ownership 15,000
At 31 August 2023 83,994
DEPRECIATION
At 1 September 2022 80,744
Charge for year 11,750
Transfer to ownership (32,000 )
At 31 August 2023 60,494
NET BOOK VALUE
At 31 August 2023 23,500
At 31 August 2022 (11,750 )

Severn Fabrications Limited (Registered number: 06921388)

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


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 75,006 148,929
Other debtors 41,004 76,350
116,010 225,279

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 5,400 14,984
Trade creditors 164,453 272,424
Taxation and social security 28,718 61,993
Other creditors 68,765 35,685
277,336 395,086

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.23 31.8.22
£    £   
Bank loans 24,167 34,167
Hire purchase contracts 12,050 26,810
36,217 60,977