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WARD'S WELDING & FABRICATIONS
LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST JANUARY 2024






WARD'S WELDING & FABRICATIONS
LIMITED (REGISTERED NUMBER: 04113011)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Accountants' Report 8

WARD'S WELDING & FABRICATIONS
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JANUARY 2024







DIRECTORS: S R Ward
K Ward



SECRETARY: K Ward



REGISTERED OFFICE: First Floor, Woburn Court
2 Railton Road
Woburn Rd Ind Est
Kempston
Bedfordshire
MK42 7PN



REGISTERED NUMBER: 04113011 (England and Wales)



ACCOUNTANTS: HW Bedford Limited
Trading as Haines Watts
First Floor, Woburn Court
2 Railton Road
Woburn Rd Ind Est
Kempston
Bedfordshire
MK42 7PN



BANKERS: National Westminister Bank
Cranfield University
College Road
Wharley End
Cranfield
Bedfordshire
MK43 0SR

WARD'S WELDING & FABRICATIONS
LIMITED (REGISTERED NUMBER: 04113011)

BALANCE SHEET
31ST JANUARY 2024

31/1/24 31/1/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 358,567 151,909

CURRENT ASSETS
Stocks 15,000 15,000
Debtors 5 183,130 367,222
Cash at bank and in hand 227,439 162,105
425,569 544,327
CREDITORS
Amounts falling due within one year 6 221,400 201,932
NET CURRENT ASSETS 204,169 342,395
TOTAL ASSETS LESS CURRENT
LIABILITIES

562,736

494,304

CREDITORS
Amounts falling due after more than one
year

7

(13,950

)

(24,111

)

PROVISIONS FOR LIABILITIES (47,895 ) (33,020 )
NET ASSETS 500,891 437,173

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 500,791 437,073
SHAREHOLDERS' FUNDS 500,891 437,173

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2024 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.

WARD'S WELDING & FABRICATIONS
LIMITED (REGISTERED NUMBER: 04113011)

BALANCE SHEET - continued
31ST JANUARY 2024


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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4th September 2024 and were signed on its behalf by:





K Ward - Director


WARD'S WELDING & FABRICATIONS
LIMITED (REGISTERED NUMBER: 04113011)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2024

1. STATUTORY INFORMATION

Ward's Welding & Fabrications 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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - straight line over lease term
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss, 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.


WARD'S WELDING & FABRICATIONS
LIMITED (REGISTERED NUMBER: 04113011)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024

2. 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 12 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1st February 2023 28,774 244,501 26,562
Additions 176,017 58,416 4,517
At 31st January 2024 204,791 302,917 31,079
DEPRECIATION
At 1st February 2023 - 150,417 16,375
Charge for year 5,558 19,048 2,030
At 31st January 2024 5,558 169,465 18,405
NET BOOK VALUE
At 31st January 2024 199,233 133,452 12,674
At 31st January 2023 28,774 94,084 10,187

WARD'S WELDING & FABRICATIONS
LIMITED (REGISTERED NUMBER: 04113011)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st February 2023 113,698 39,653 453,188
Additions - - 238,950
At 31st January 2024 113,698 39,653 692,138
DEPRECIATION
At 1st February 2023 96,218 38,269 301,279
Charge for year 4,371 1,285 32,292
At 31st January 2024 100,589 39,554 333,571
NET BOOK VALUE
At 31st January 2024 13,109 99 358,567
At 31st January 2023 17,480 1,384 151,909

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/1/24 31/1/23
£    £   
Trade debtors 168,238 158,888
Amounts owed by group undertakings 6,708 118,591
Amounts recoverable on contract 5,625 84,403
Other debtors 1,228 393
Prepayments 1,331 4,947
183,130 367,222

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/1/24 31/1/23
£    £   
Bank loans and overdrafts 10,162 9,911
Trade creditors 103,521 98,113
Corporation tax 53,606 53,543
Social security and other taxes 5,503 4,533
VAT 33,745 27,060
Other creditors 11,363 5,272
Accruals and deferred income 3,500 3,500
221,400 201,932

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/1/24 31/1/23
£    £   
Bank loans - 2-5 years 13,950 24,111

WARD'S WELDING & FABRICATIONS
LIMITED (REGISTERED NUMBER: 04113011)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S R Ward.

9. ULTIMATE PARENT COMPANY

The ultimate parent company at the balance sheet date was Wards Holding Limited. Their registered office is First Floor, Woburn Court, 2 Railton Road, Bedford, Bedfordshire MK42 7PN.

Copies of the financial statements of Wards Holding Limited are available from Companies House.

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
WARD'S WELDING & FABRICATIONS
LIMITED

The following reproduces the text of the report prepared for the directors 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 Statement of Comprehensive Income and certain other primary statements and the Report of the Directors 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 Ward's Welding & Fabrications Limited for the year ended 31st January 2024 which comprise the Statement of Comprehensive Income, 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 the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Ward's Welding & Fabrications Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Ward's Welding & Fabrications Limited and state those matters that we have agreed to state to the Board of Directors of Ward's Welding & Fabrications Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ward's Welding & Fabrications Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Ward's Welding & Fabrications Limited 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 Ward's Welding & Fabrications Limited. You consider that Ward's Welding & Fabrications Limited 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 Ward's Welding & Fabrications Limited. 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.






HW Bedford Limited
Trading as Haines Watts
First Floor, Woburn Court
2 Railton Road
Woburn Rd Ind Est
Kempston
Bedfordshire
MK42 7PN


4th September 2024