REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
FOR |
BLACKWELD LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
FOR |
BLACKWELD LIMITED |
BLACKWELD LIMITED (REGISTERED NUMBER: 01882327) |
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 |
BLACKWELD LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Black Country House |
Rounds Green Road |
Oldbury |
West Midlands |
B69 2DG |
BLACKWELD LIMITED (REGISTERED NUMBER: 01882327) |
BALANCE SHEET |
31 OCTOBER 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 9 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Other reserves |
Retained earnings |
SHAREHOLDERS' FUNDS |
BLACKWELD LIMITED (REGISTERED NUMBER: 01882327) |
BALANCE SHEET - continued |
31 OCTOBER 2023 |
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. |
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 |
BLACKWELD LIMITED (REGISTERED NUMBER: 01882327) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
1. | STATUTORY INFORMATION |
Blackweld Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Intangible fixed assets and amortisation |
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the identifiable assets and liabilities. It is amortised to the Profit and loss account over its estimated economic life. |
Amortisation is provided at the following rates: |
Goodwill - Over 20 years |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Rent receivable |
Rental Income is credited to the profit and loss account as and when the amount falls due. |
Investments |
Investments held as fixed assets are shown at cost less provision for impairment. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
BLACKWELD LIMITED (REGISTERED NUMBER: 01882327) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 November 2022 |
and 31 October 2023 |
AMORTISATION |
At 1 November 2022 |
Amortisation for year |
At 31 October 2023 |
NET BOOK VALUE |
At 31 October 2023 |
At 31 October 2022 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 November 2022 |
and 31 October 2023 |
NET BOOK VALUE |
At 31 October 2023 |
At 31 October 2022 |
Fair value at 31 October 2023 is represented by: |
£ |
Valuation in 2018 | 251,655 |
Cost | 258,345 |
510,000 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed by related parties |
Other debtors |
BLACKWELD LIMITED (REGISTERED NUMBER: 01882327) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed to related parties |
Corporation tax |
8. | SECURED DEBTS |
The bank loans and overdrafts falling due within one year and falling due in greater than one year are secured by the company. |
9. | PROVISIONS FOR LIABILITIES |
2023 | 2022 |
£ | £ |
Deferred tax | 36,778 | 27,951 |
Deferred |
tax |
£ |
Balance at 1 November 2022 |
Unrealised gain |
Changes in tax rate | 8,827 |
Balance at 31 October 2023 |
10. | CONTINGENT LIABILITIES |
Blackweld Limited and its fellow subsidiaries of TWP Manufacturing Limited are cross guaranteeing the 10 year bank loan In TWP Manufacturing Limited 2022: 261,473 (2021: £297,067). |
11. | ULTIMATE CONTROLLING PARTY |
On the 21st December 2018 TWP Manufacturing Limited's directors are now the ultimate controlling party. |