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Registration number: 10475991

Unitised Fabrications Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

Unitised Fabrications Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Unitised Fabrications Limited

Company Information

Directors

Daniel Thomas Muirhead

Derek Muirhead

Stephanie Green

Registered office

Deepdale Holdings
Queens Meadow Business Park
Hartlepool
TS25 5TE

Accountants

Barkess & Co
Stockton Business Centre
70-74 Brunswick Street
Stockton on Tees
TS18 1DW

 

Unitised Fabrications Limited

(Registration number: 10475991)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

48,932

47,249

Current assets

 

Debtors

5

344,656

289,112

Cash at bank and in hand

 

108,795

116,798

 

453,451

405,910

Creditors: Amounts falling due within one year

6

(242,563)

(213,837)

Net current assets

 

210,888

192,073

Total assets less current liabilities

 

259,820

239,322

Creditors: Amounts falling due after more than one year

6

(15,000)

(25,000)

Provisions for liabilities

(12,233)

(3,038)

Net assets

 

232,587

211,284

Capital and reserves

 

Called up share capital

7

100

1

Retained earnings

232,487

211,283

Shareholders' funds

 

232,587

211,284

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 August 2024 and signed on its behalf by:
 

 

Unitised Fabrications Limited

(Registration number: 10475991)
Balance Sheet as at 30 November 2023

.........................................
Derek Muirhead
Director

 

Unitised Fabrications Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Deepdale Holdings
Queens Meadow Business Park
Hartlepool
TS25 5TE
England

These financial statements were authorised for issue by the Board on 28 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

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

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Unitised Fabrications Limited

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

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & machinery

25% reducing balance

Fixtures, fittings & equipment

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Unitised Fabrications Limited

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 22 (2022 - 19).

 

Unitised Fabrications Limited

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

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 December 2022

19,154

64,349

83,503

Additions

2,940

15,055

17,995

At 30 November 2023

22,094

79,404

101,498

Depreciation

At 1 December 2022

8,452

27,802

36,254

Charge for the year

3,412

12,900

16,312

At 30 November 2023

11,864

40,702

52,566

Carrying amount

At 30 November 2023

10,230

38,702

48,932

At 30 November 2022

10,702

36,547

47,249

5

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

187,557

61,696

Amounts owed by related parties

10

79,532

143,745

Prepayments

 

5,950

9,906

Other debtors

 

71,617

73,765

   

344,656

289,112

6

Creditors

Creditors: amounts falling due within one year

 

Unitised Fabrications Limited

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

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

10,000

10,000

Trade creditors

 

160,305

101,386

Taxation and social security

 

27,475

87,886

Accruals and deferred income

 

39,236

10,000

Other creditors

 

5,547

4,565

 

242,563

213,837

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

15,000

25,000

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

100

100

1

1

       

8

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

15,000

25,000

Current loans and borrowings

2023
£

2022
£

Bank borrowings

10,000

10,000

Bank borrowings

 

Unitised Fabrications Limited

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

BoS Bounce Back Loan is denominated in GBP with a nominal interest rate of 2.5%, and the final instalment is due on 6 May 2025. The carrying amount at year end is £25,000 (2022 - £35,000).

9

Dividends

2023

2022

£

£

 

 

10

Related party transactions

Transactions with directors

2023

At 1 December 2022
£

Advances to director
£

At 30 November 2023
£

Derek Muirhead

Director's Current account

222

55,282

55,504

2022

At 1 December 2021
£

Advances to director
£

At 30 November 2022
£

Derek Muirhead

Director's Current account

-

222

222

Summary of transactions with associates

Integrated Modular Patitions Limited

The company has a current account balance that is owed by its associate.

An interest free current account repayable on demand.

Income and receivables from related parties

2023

Parent
£

Transfers under finance arrangements (including loans and equity contributions)

102,443

Amounts receivable from related party

102,443

 

Unitised Fabrications Limited

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

2022

Parent
£

Transfers under finance arrangements (including loans and equity contributions)

296,812

Amounts receivable from related party

296,812

Expenditure with and payables to related parties

2023

Parent
£

Rendering of services

480,000

Leases

72,000

552,000

Amounts payable to related party

552,000

2022

Parent
£

Transfers under finance arrangements (including loans and equity contributions)

164,545

Amounts payable to related party

164,545

Loans to related parties

2023

Parent
£

Associates
£

Total
£

At start of period

132,267

11,478

143,745

Advanced

-

2,240

2,240

Repaid

(46,454)

-

(46,454)

At end of period

85,813

13,718

99,531

2022

Parent
£

Associates
£

Total
£

At start of period

-

11,478

11,478

Advanced

296,812

-

296,812

Repaid

(164,545)

-

(164,545)

At end of period

132,267

11,478

143,745

11

Parent and ultimate parent undertaking

Unitised Fabrications Limited is a wholly owned subsidiary of Deepdale Holdings Limited

 The company's immediate parent is Deepdale Holdings Limited, incorporated in England.

 The most senior parent entity producing publicly available financial statements is Deepdale Holdings Limited. These financial statements are available upon request from Companies House

 The ultimate controlling party is Derek Muirhead.