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Company Registration No. 13069543 (England and Wales)
Custom Fabrications International Ltd Unaudited accounts for the year ended 31 December 2023
Custom Fabrications International Ltd Unaudited accounts Contents
Page
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Custom Fabrications International Ltd Company Information for the year ended 31 December 2023
Directors
D Bragg L Bragg
Company Number
13069543 (England and Wales)
Registered Office
Unit R Davenport Street Brunswick Industrial Estate Stoke on Trent Staffordshire ST6 4HS
Accountants
Thursfields Accountancy Limited Business Lodge, Trent House 234 Victoria Road Stoke-on-Trent Staffordshire ST4 2LW
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Custom Fabrications International Ltd Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
4,920 
7,380 
Tangible assets
6,924 
6,903 
11,844 
14,283 
Current assets
Inventories
4,000 
12,000 
Debtors
20,195 
9,786 
Cash at bank and in hand
21,234 
2,001 
45,429 
23,787 
Creditors: amounts falling due within one year
(48,768)
(62,128)
Net current liabilities
(3,339)
(38,341)
Total assets less current liabilities
8,505 
(24,058)
Provisions for liabilities
Deferred tax
(1,316)
- 
Net assets/(liabilities)
7,189 
(24,058)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
7,089 
(24,158)
Shareholders' funds
7,189 
(24,058)
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 8 February 2024 and were signed on its behalf by
D Bragg Director Company Registration No. 13069543
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Custom Fabrications International Ltd Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Custom Fabrications International Ltd is a private company, limited by shares, registered in England and Wales, registration number 13069543. The registered office is Unit R Davenport Street, Brunswick Industrial Estate, Stoke on Trent, Staffordshire, ST6 4HS.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing balance
Computer equipment
33% Straight line
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Goodwill has an estimated useful life of 5 years and no residual value. Amortisation is being applied to cost at 20%.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Custom Fabrications International Ltd Notes to the Accounts for the year ended 31 December 2023
4
Intangible fixed assets
Total 
£ 
Cost
At 1 January 2023
12,300 
At 31 December 2023
12,300 
Amortisation
At 1 January 2023
4,920 
Charge for the year
2,460 
At 31 December 2023
7,380 
Net book value
At 31 December 2023
4,920 
At 31 December 2022
7,380 
5
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 January 2023
9,674 
Additions
2,642 
Disposals
(748)
At 31 December 2023
11,568 
Depreciation
At 1 January 2023
2,771 
Charge for the year
2,322 
On disposals
(449)
At 31 December 2023
4,644 
Net book value
At 31 December 2023
6,924 
At 31 December 2022
6,903 
6
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
7
Average number of employees
During the year the average number of employees was 4 (2022: 3).
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