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REGISTERED NUMBER: 04217426 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

Code A Weld Holdings Limited

Code A Weld Holdings Limited (Registered number: 04217426)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Code A Weld Holdings Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: D A Millington
P Barry
R L Rostas
A Gould
C Slocombe





SECRETARY: D A Millington





REGISTERED OFFICE: Unit 1&2 Fourth Avenue
Midsomer Norton
Radstock
BA3 4XE





REGISTERED NUMBER: 04217426 (England and Wales)

Code A Weld Holdings Limited (Registered number: 04217426)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 654,529 530,895
Investments 6 102 102
654,631 530,997

CURRENT ASSETS
Debtors 7 987,713 539,095
Cash at bank and in hand 298,426 48,328
1,286,139 587,423
CREDITORS
Amounts falling due within one year 8 713,960 333,145
NET CURRENT ASSETS 572,179 254,278
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,226,810

785,275

PROVISIONS FOR LIABILITIES 18,275 26,506
NET ASSETS 1,208,535 758,769

CAPITAL AND RESERVES
Called up share capital 10 12 12
Retained earnings 1,208,523 758,757
SHAREHOLDERS' FUNDS 1,208,535 758,769

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 August 2024 and were signed on its behalf by:





D A Millington - Director


Code A Weld Holdings Limited (Registered number: 04217426)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Code A Weld Holdings 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.

The company's functional and presentation currency is pounds 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.

Goodwill
Goodwill recognised as a result of the acquisition of a business is fully amortised.

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.
Improvements to property - 10% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Code A Weld Holdings Limited (Registered number: 04217426)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Leases
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the profit and loss account so as to produce a constant periodic rate of interest on the remaining balance of the liability.

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 35 (2022 - 31 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 9,996
AMORTISATION
At 1 January 2023
and 31 December 2023 9,996
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

Code A Weld Holdings Limited (Registered number: 04217426)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2023 105,109 381,128 98,672 414,003 998,912
Additions - 45,771 22,648 261,271 329,690
Disposals - - - (86,864 ) (86,864 )
At 31 December 2023 105,109 426,899 121,320 588,410 1,241,738
DEPRECIATION
At 1 January 2023 52,419 258,430 66,680 90,488 468,017
Charge for year 10,511 31,143 10,917 97,929 150,500
Eliminated on disposal - - - (31,308 ) (31,308 )
At 31 December 2023 62,930 289,573 77,597 157,109 587,209
NET BOOK VALUE
At 31 December 2023 42,179 137,326 43,723 431,301 654,529
At 31 December 2022 52,690 122,698 31,992 323,515 530,895

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 102
NET BOOK VALUE
At 31 December 2023 102
At 31 December 2022 102

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 606,329 427,751
Amounts owed by group undertakings 337,346 83,249
Other debtors 9,675 8,516
Tax 24 24
Prepayments 34,339 19,555
987,713 539,095

Code A Weld Holdings Limited (Registered number: 04217426)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 78,015 20,414
Amounts owed to group undertakings 360,540 152,996
Tax (33,378 ) (47,610 )
Social security and other taxes 31,998 23,687
VAT 124,823 80,195
Other creditors 105,292 87,398
Accrued expenses 46,670 16,065
713,960 333,145

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 15,722 14,594
Between one and five years 58,092 1,265
73,814 15,859

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
12 Ordinary 1 12 12

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Andrew Botham (Senior Statutory Auditor)
for and on behalf of Botham Accounting Limited

12. CONTINGENT LIABILITIES

As at 31 December 2023, the total liabilities of other group members secured by a fixed and floating charge over the assets of the company was £686,315,118 (2022 - £509,807,481).

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
D A Millington
Balance outstanding at start of year - 173
Amounts repaid - -
Amounts written off - (173 )
Amounts waived - -
Balance outstanding at end of year - -

Code A Weld Holdings Limited (Registered number: 04217426)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

14. ULTIMATE CONTROLLING PARTY

The company's immediate parent company is Code A Weld Group Limited, a company incorporated in the England and Wales. Copies of the parent company's financial statements can be obtained from Companies House.

The ultimate parent undertaking and controlling party is TIC Holdco Limited, a company registered in England and Wales. The consolidated accounts of TIC Holdco Limited, in which the company is included, are available to the public and may be obtained from Companies House. The directors are of the opinion that Peter Dubens is qualified as the ultimate controlling party of TIC Holdco Limited exercising his control through voting rights with a controlling percentage of >50%.