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REGISTERED NUMBER: 02731095 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

FOR

NTS FABRICATIONS LIMITED

NTS FABRICATIONS LIMITED (REGISTERED NUMBER: 02731095)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NTS FABRICATIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTOR: Trevor Graham Smith





REGISTERED OFFICE: Sentinel House
Webb Road
Skippers Lane Industrial Estate
Middlesbrough
Cleveland
TS6 6HD





REGISTERED NUMBER: 02731095 (England and Wales)





ACCOUNTANTS: Walter Dawson & Son
Chartered Accountants
Lawrence House
James Nicolson Link
Clifton Moor
York
North Yorkshire
YO30 4WG

NTS FABRICATIONS LIMITED (REGISTERED NUMBER: 02731095)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible Assets 4 175,670 187,208

CURRENT ASSETS
Stocks 52,200 11,300
Debtors 5 110,388 78,737
Cash at bank 1,521 -
164,109 90,037
CREDITORS
Amounts falling due within one year 6 167,951 238,882
NET CURRENT LIABILITIES (3,842 ) (148,845 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

171,828

38,363

CREDITORS
Amounts falling due after more than
one year

7

(19,693

)

(29,771

)

PROVISIONS FOR LIABILITIES - (8,490 )
NET ASSETS 152,135 102

CAPITAL AND RESERVES
Called up share capital 50 50
Capital redemption reserve 50 50
Profit and loss account 152,035 2
152,135 102

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.

NTS FABRICATIONS LIMITED (REGISTERED NUMBER: 02731095)

BALANCE SHEET - 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 9 February 2024 and were signed by:





Trevor Graham Smith - Director


NTS FABRICATIONS LIMITED (REGISTERED NUMBER: 02731095)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1. STATUTORY INFORMATION

NTS 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.
Freehold property - 2% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer Equipment - 33% on reducing balance

STOCKS
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


NTS FABRICATIONS LIMITED (REGISTERED NUMBER: 02731095)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 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.

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.

FINANCE COSTS OF DEBT
The finance costs of debt, including interest and issue costs, are allocated to each period over the term of the debt and charged to the profit and loss account at a constant rate on the outstanding amount.

INCOME RECOGNITION
Income is recognised when goods and services have been delivered to customers such that the risks and rewards of ownership have transferred to them.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 5 ) .

4. TANGIBLE ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 August 2022
and 31 July 2023 206,176 177,213 3,580
DEPRECIATION
At 1 August 2022 54,231 149,310 3,513
Charge for year 4,123 5,581 10
At 31 July 2023 58,354 154,891 3,523
NET BOOK VALUE
At 31 July 2023 147,822 22,322 57
At 31 July 2022 151,945 27,903 67

NTS FABRICATIONS LIMITED (REGISTERED NUMBER: 02731095)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

4. TANGIBLE ASSETS - continued

Motor Computer
vehicles Equipment Totals
£    £    £   
COST
At 1 August 2022
and 31 July 2023 45,350 1,985 434,304
DEPRECIATION
At 1 August 2022 38,074 1,968 247,096
Charge for year 1,819 5 11,538
At 31 July 2023 39,893 1,973 258,634
NET BOOK VALUE
At 31 July 2023 5,457 12 175,670
At 31 July 2022 7,276 17 187,208

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 106,607 70,801
Other debtors 3,781 7,936
110,388 78,737

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,077 13,978
Trade creditors 74,171 74,666
Taxation and social security 2,540 2,562
Other creditors 81,163 147,676
167,951 238,882

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 19,693 29,771

NTS FABRICATIONS LIMITED (REGISTERED NUMBER: 02731095)

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 loans 29,770 39,378

The bounce back loan is unsecured but is guaranteed by the government.

9. RELATED PARTY DISCLOSURES

The directors current account showed that as at 31 July 2023 the company owed the director £76,122 (202 - £41,351).

The company has loaned money to an employee, the balance owed to the company as at 31st July 2023 was £2,937 (2022 - £4,432)

10. ULTIMATE CONTROLLING PARTY

The controlling party is Trevor Graham Smith.

11. PENSION CONTRIBUTIONS

The company operates a defined contribution pension scheme. The assets of the pension scheme are held separately from those of the company in an independently administered fund. The pension cost represents contributions payable by the company to the fund during the period and amounted to £1,568 (2022 - £1,103 ).