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REGISTERED NUMBER: SC492280 (Scotland)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

T & M Fabrication and Engineering Ltd

T & M Fabrication and Engineering Ltd (Registered number: SC492280)






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

Chartered Accountants' Report 7

T & M Fabrication and Engineering Ltd

Company Information
for the Year Ended 30 November 2023







DIRECTOR: P Troiano





REGISTERED OFFICE: 9 Lenziemill Road
Lenziemill Industrial Estate
Cumbernauld
G67 2RL





REGISTERED NUMBER: SC492280 (Scotland)





ACCOUNTANTS: Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA

T & M Fabrication and Engineering Ltd (Registered number: SC492280)

Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 24,605 12,912

CURRENT ASSETS
Stocks 1,458 1,403
Debtors 6 57,122 28,623
Cash at bank 10,050 13,363
68,630 43,389
CREDITORS
Amounts falling due within one year 7 38,674 16,515
NET CURRENT ASSETS 29,956 26,874
TOTAL ASSETS LESS CURRENT
LIABILITIES

54,561

39,786

CREDITORS
Amounts falling due after more than one
year

8

(8,579

)

-

PROVISIONS FOR LIABILITIES (6,151 ) (2,250 )
NET ASSETS 39,831 37,536

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 39,731 37,436
SHAREHOLDERS' FUNDS 39,831 37,536

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 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.

T & M Fabrication and Engineering Ltd (Registered number: SC492280)

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 director and authorised for issue on 22 August 2024 and were signed by:





P Troiano - Director


T & M Fabrication and Engineering Ltd (Registered number: SC492280)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

T & M Fabrication and Engineering Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis.

Turnover & revenue recognition
Turnover is derived from work done and services supplied by the company as a fabrication and engineering contractor.

Turnover therefore represents the value of work done and services supplied, net of discounts and excluding value added tax, and is recognised at the point that the company obtains the right to consideration.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and Straight line over 4 years

At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Expenditure of £1,000 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the profit and loss account in the period it is incurred.

Stocks
Stocks are valued at the lower of cost and expected selling price less costs to complete, after making due allowance for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

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.


T & M Fabrication and Engineering Ltd (Registered number: SC492280)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

3. 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2022 38,376
Additions 22,198
Disposals (10,750 )
At 30 November 2023 49,824
DEPRECIATION
At 1 December 2022 25,464
Charge for year 8,593
Eliminated on disposal (8,838 )
At 30 November 2023 25,219
NET BOOK VALUE
At 30 November 2023 24,605
At 30 November 2022 12,912

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 57,122 28,623

T & M Fabrication and Engineering Ltd (Registered number: SC492280)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 3,813 -
Trade creditors 19,422 4,340
Taxation and social security 15,115 11,698
Other creditors 324 477
38,674 16,515

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 8,579 -

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 12,392 -

Hire purchase contracts are secured against the assets to which they relate.

10. RELATED PARTY DISCLOSURES

The company has been advanced funds by the director. At the year end the company owed the director £172 (2022 - £351). This balance is unsecured, interest free and has no fixed repayment terms.

11. POST BALANCE SHEET EVENTS

On 11 December 2023 the company purchased 50 of its own shares for £11,000.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
T & M Fabrication and Engineering Ltd

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of T & M Fabrication and Engineering Ltd for the year ended 30 November 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the director of T & M Fabrication and Engineering Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of T & M Fabrication and Engineering Ltd and state those matters that we have agreed to state to the director of T & M Fabrication and Engineering Ltd in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that T & M Fabrication and Engineering Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of T & M Fabrication and Engineering Ltd. You consider that T & M Fabrication and Engineering Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of T & M Fabrication and Engineering Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA


22 August 2024