3 false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 01435732 2023-04-01 2024-03-31 01435732 2024-03-31 01435732 2023-03-31 01435732 2022-04-01 2023-03-31 01435732 2023-03-31 01435732 core:LandBuildings core:LongLeaseholdAssets 2023-04-01 2024-03-31 01435732 core:PlantMachinery 2023-04-01 2024-03-31 01435732 core:FurnitureFittings 2023-04-01 2024-03-31 01435732 core:MotorVehicles 2023-04-01 2024-03-31 01435732 bus:Director6 2023-04-01 2024-03-31 01435732 core:LandBuildings 2023-03-31 01435732 core:PlantMachinery 2023-03-31 01435732 core:FurnitureFittings 2023-03-31 01435732 core:MotorVehicles 2023-03-31 01435732 core:LandBuildings 2024-03-31 01435732 core:PlantMachinery 2024-03-31 01435732 core:FurnitureFittings 2024-03-31 01435732 core:MotorVehicles 2024-03-31 01435732 core:LandBuildings 2023-04-01 2024-03-31 01435732 core:WithinOneYear 2024-03-31 01435732 core:WithinOneYear 2023-03-31 01435732 core:ShareCapital 2024-03-31 01435732 core:ShareCapital 2023-03-31 01435732 core:RetainedEarningsAccumulatedLosses 2024-03-31 01435732 core:RetainedEarningsAccumulatedLosses 2023-03-31 01435732 core:LandBuildings 2023-03-31 01435732 core:PlantMachinery 2023-03-31 01435732 core:FurnitureFittings 2023-03-31 01435732 core:MotorVehicles 2023-03-31 01435732 bus:SmallEntities 2023-04-01 2024-03-31 01435732 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 01435732 bus:FullAccounts 2023-04-01 2024-03-31 01435732 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 01435732 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31
COMPANY REGISTRATION NUMBER: 01435732
BLAZON FABRICATIONS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 March 2024
BLAZON FABRICATIONS LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
Contents
Pages
Statement of financial position
1 to 2
Notes to the financial statements
3 to 7
BLAZON FABRICATIONS LIMITED
STATEMENT OF FINANCIAL POSITION
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
30,259
39,454
Current assets
Debtors
6
1,380,362
734,326
Cash at bank and in hand
790,133
462,705
------------
------------
2,170,495
1,197,031
Creditors: amounts falling due within one year
7
1,602,555
1,195,902
------------
------------
Net current assets
567,940
1,129
---------
--------
Total assets less current liabilities
598,199
40,583
Provisions
Taxation including deferred tax
6,648
6,101
---------
--------
Net assets
591,551
34,482
---------
--------
Capital and reserves
Called up share capital
27,000
27,000
Profit and loss account
564,551
7,482
---------
--------
Shareholders funds
591,551
34,482
---------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 March 2024 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
BLAZON FABRICATIONS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 5 September 2024 , and are signed on behalf of the board by:
Mr J Burfield
Director
Company registration number: 01435732
BLAZON FABRICATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit F2 Northfleet Industrial Estate, Lower Road, Northfleet, Kent, DA11 9SW.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through the statement of comprehensive income. The financial statements are prepared in sterling, which is the functional currency of the entity.
Debtors
Debtors are initially recorded at fair value and are assessed for impairment at each reporting date. If any impairments exist the debtors are remeasured to the present value of the expected future cash inflows.
Creditors
Creditors are initially recorded at fair value and are then remeasured to the present value of the expected future cash outflows.
Statement of cash flows
The company has taken advantage of the small companies exemptions and not prepared a statement of cash flows.
Judgements and key sources of estimation uncertainty
There are no significant estimates or assumptions made that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
Revenue recognition
Revenue refers to the amounts earned from the Company's principal activity; that of sheet metal fabrication. The revenue shown in the income statement represents amount invoiced during the year, exclusive of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in the statement of comprehensive income.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold property
-
7% straight line
Plant & machinery
-
15% straight line
Fixtures & fittings
-
15% straight line
Motor vehicles
-
20% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in the statement of comprehensive income unless the provision was originally recognised as part of the cost of an asset.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
5. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 April 2023
55,148
30,395
39,983
30,500
156,026
Additions
1,051
1,051
--------
--------
--------
--------
---------
At 31 March 2024
55,148
30,395
41,034
30,500
157,077
--------
--------
--------
--------
---------
Depreciation
At 1 April 2023
47,801
12,018
36,133
20,620
116,572
Charge for the year
3,677
3,510
1,083
1,976
10,246
--------
--------
--------
--------
---------
At 31 March 2024
51,478
15,528
37,216
22,596
126,818
--------
--------
--------
--------
---------
Carrying amount
At 31 March 2024
3,670
14,867
3,818
7,904
30,259
--------
--------
--------
--------
---------
At 31 March 2023
7,347
18,377
3,850
9,880
39,454
--------
--------
--------
--------
---------
6. Debtors
2024
2023
£
£
Trade debtors
1,289,029
676,224
Other debtors
91,333
58,102
------------
---------
1,380,362
734,326
------------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
271,308
91,280
Amounts owed to group undertakings and undertakings in which the company has a participating interest
1,123,063
1,075,063
Corporation tax
188,817
Social security and other taxes
11,105
4,384
Other creditors
8,262
25,175
------------
------------
1,602,555
1,195,902
------------
------------
8. Directors' advances, credits and guarantees
During the year, the company made interest-free advances to a director amounting to £10,000 (2023: £0). These were repayable on demand.
9. Ultimate parent company
The ultimate parent company is Blazon Holdings Limited.