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REGISTERED NUMBER: 11222861 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

WELCH FENCING LIMITED

WELCH FENCING LIMITED (REGISTERED NUMBER: 11222861)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WELCH FENCING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: W Welch
Mrs E Welch
N M Welch
J W Welch





REGISTERED OFFICE: Chandler House
7 Ferry Road Office Park
Riversway
Preston
Lancashire
PR2 2YH





REGISTERED NUMBER: 11222861 (England and Wales)





ACCOUNTANTS: Wallwork Nelson & Johnson
Chandler House
7 Ferry Road Office Park
Riversway
Preston
Lancashire
PR2 2YH

WELCH FENCING LIMITED (REGISTERED NUMBER: 11222861)

BALANCE SHEET
30 NOVEMBER 2023

30/11/23 30/11/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 58,500 70,200
Tangible assets 5 607,706 527,725
666,206 597,925

CURRENT ASSETS
Stocks 6 45,000 95,000
Debtors 7 374,059 298,988
Cash at bank 2,310,147 1,929,920
2,729,206 2,323,908
CREDITORS
Amounts falling due within one year 8 722,818 769,853
NET CURRENT ASSETS 2,006,388 1,554,055
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,672,594

2,151,980

CREDITORS
Amounts falling due after more than one
year

9

(45,372

)

(53,951

)

PROVISIONS FOR LIABILITIES 10 (128,185 ) (84,251 )
NET ASSETS 2,499,037 2,013,778

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 2,498,937 2,013,678
SHAREHOLDERS' FUNDS 2,499,037 2,013,778

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

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.

WELCH FENCING LIMITED (REGISTERED NUMBER: 11222861)

BALANCE SHEET - continued
30 NOVEMBER 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 March 2024 and were signed on its behalf by:





N M Welch - Director


WELCH FENCING LIMITED (REGISTERED NUMBER: 11222861)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

Welch Fencing 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 20% 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 Income Statement, 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.

WELCH FENCING LIMITED (REGISTERED NUMBER: 11222861)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 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 39 (2022 - 41 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 117,000
AMORTISATION
At 1 December 2022 46,800
Charge for year 11,700
At 30 November 2023 58,500
NET BOOK VALUE
At 30 November 2023 58,500
At 30 November 2022 70,200

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 December 2022 5,666 167,674 733,272 17,049 923,661
Additions - 9,256 275,185 - 284,441
Disposals - - (105,107 ) - (105,107 )
At 30 November 2023 5,666 176,930 903,350 17,049 1,102,995
DEPRECIATION
At 1 December 2022 - 52,930 327,403 15,603 395,936
Charge for year - 17,298 96,830 991 115,119
Eliminated on disposal - - (15,766 ) - (15,766 )
At 30 November 2023 - 70,228 408,467 16,594 495,289
NET BOOK VALUE
At 30 November 2023 5,666 106,702 494,883 455 607,706
At 30 November 2022 5,666 114,744 405,869 1,446 527,725

6. STOCKS
30/11/23 30/11/22
£    £   
Stocks 45,000 95,000

WELCH FENCING LIMITED (REGISTERED NUMBER: 11222861)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/11/23 30/11/22
£    £   
Trade debtors 345,503 281,929
Directors' current accounts 10,805 -
Prepayments and accrued income 17,751 17,059
374,059 298,988

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/11/23 30/11/22
£    £   
Hire purchase contracts 46,023 83,759
Trade creditors 249,968 427,124
Tax 175,551 129,057
Social security and other taxes 31,399 30,998
VAT 120,408 72,235
Directors' current accounts - 7
Accrued expenses 99,469 26,673
722,818 769,853

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30/11/23 30/11/22
£    £   
Hire purchase contracts 45,372 53,951

10. PROVISIONS FOR LIABILITIES
30/11/23 30/11/22
£    £   
Deferred tax 128,185 84,251

Deferred
tax
£   
Balance at 1 December 2022 84,251
Charge to Income Statement during year 43,934
Balance at 30 November 2023 128,185

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30/11/23 30/11/22
value: £    £   
100 Ordinary £1 100 100

WELCH FENCING LIMITED (REGISTERED NUMBER: 11222861)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2023 and 30 November 2022:

30/11/23 30/11/22
£    £   
N M Welch
Balance outstanding at start of year (7 ) (2,044 )
Amounts advanced 151,162 168,678
Amounts repaid (140,350 ) (166,641 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 10,805 (7 )