Registered number
05312006
Ampress Welding & Fabrications Limited
Filleted Accounts
31 January 2024
Ampress Welding & Fabrications Limited
Registered number: 05312006
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 74,565 10,990
Current assets
Stocks 34,730 32,535
Debtors 4 49,672 77,348
Cash at bank and in hand 475 13,781
84,877 123,664
Creditors: amounts falling due within one year 5 (81,442) (76,393)
Net current assets 3,435 47,271
Total assets less current liabilities 78,000 58,261
Creditors: amounts falling due after more than one year 6 (18,333) (28,333)
Net assets 59,667 29,928
Capital and reserves
Called up share capital 6 4
Profit and loss account 59,661 29,924
Shareholders' funds 59,667 29,928
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.
LG Hicks
Director
Approved by the board on 3 April 2024
Ampress Welding & Fabrications 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 rendering of services. 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 at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Current tax 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 7 7
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 February 2023 309,046 8,479 317,525
Additions 83,537 - 83,537
At 31 January 2024 392,583 8,479 401,062
Depreciation
At 1 February 2023 304,839 1,696 306,535
Charge for the year 18,266 1,696 19,962
At 31 January 2024 323,105 3,392 326,497
Net book value
At 31 January 2024 69,478 5,087 74,565
At 31 January 2023 4,207 6,783 10,990
4 Debtors 2024 2023
£ £
Trade debtors 41,643 33,862
Other debtors 8,029 43,486
49,672 77,348
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 16,247 5,833
Trade creditors 30,791 40,604
Taxation and social security costs 34,364 29,956
Other creditors 40 -
81,442 76,393
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 18,333 28,333
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
LG Hicks
Loan 16,062 87,869 (103,698) 233
J Hicks
Loan 16,062 87,869 (103,698) 233
C Hicks
Loan - 7,280 (7,300) (20)
LE Hicks
Loan - 7,280 (7,300) (20)
32,124 190,298 (221,996) 426
8 Controlling party
The company is controlled by LG Hicks, J Hicks, C Hicks and LE Hicks.
9 Other information
Ampress Welding & Fabrications Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 340 Ampress Lane
Ampress Park
Southampton Road
Lymington
SO41 8JX
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