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REGISTERED NUMBER: 04486335 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

WELDRITE STRUCTURES LIMITED

WELDRITE STRUCTURES LIMITED (REGISTERED NUMBER: 04486335)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Balance sheet 1

Notes to the financial statements 2


WELDRITE STRUCTURES LIMITED (REGISTERED NUMBER: 04486335)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 260,459 91,714

Current assets
Stocks 516,689 430,755
Debtors 5 1,106,380 1,492,809
Cash at bank and in hand 650,008 82,904
2,273,077 2,006,468
Creditors
Amounts falling due within one year 6 1,577,877 1,294,426
Net current assets 695,200 712,042
Total assets less current liabilities 955,659 803,756

Creditors
Amounts falling due after more than one year 7 (154,253 ) (114,497 )

Provisions for liabilities 10 (32,730 ) (15,499 )
Net assets 768,676 673,760

Capital and reserves
Called up share capital 11 100 100
Retained earnings 768,576 673,660
Shareholders' funds 768,676 673,760

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

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

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 director and authorised for issue on 9 September 2024 and were signed by:




Mr S C Dyke - Director


WELDRITE STRUCTURES LIMITED (REGISTERED NUMBER: 04486335)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. Statutory information

Weldrite Structures Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 04486335. The registered office is and business address is Construction House, 1a Allens Lane, Hamworthy, Poole, Dorset, BH16 5DG.

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.

Turnover
Turnover represents amounts receivable, excluding value added tax, in respect of goods and services provided in the ordinary course of business. Turnover is recognised as soon as the goods or services have been provided to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stock and Work In Progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

WELDRITE STRUCTURES LIMITED (REGISTERED NUMBER: 04486335)

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


2. Accounting policies - continued

Financial instruments
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

Group accounts
The financial statements present information about the company as an individual undertaking and not about its group. The company and its parent comprise a small-sized group. The group has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

3. Employees and directors

The average number of employees during the year was 26 (2023 - 26 ) .

4. Tangible fixed assets
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
Cost
At 1 April 2023 55,073 43,336 206,493 304,902
Additions 76,567 6,608 110,629 193,804
Disposals - (639 ) - (639 )
At 31 March 2024 131,640 49,305 317,122 498,067
Depreciation
At 1 April 2023 41,392 18,608 153,188 213,188
Charge for year 5,889 4,619 14,008 24,516
Eliminated on disposal - (96 ) - (96 )
At 31 March 2024 47,281 23,131 167,196 237,608
Net book value
At 31 March 2024 84,359 26,174 149,926 260,459
At 31 March 2023 13,681 24,728 53,305 91,714

WELDRITE STRUCTURES LIMITED (REGISTERED NUMBER: 04486335)

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


4. Tangible fixed assets - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
Cost
At 1 April 2023 - 69,300 69,300
Additions 54,900 110,629 165,529
At 31 March 2024 54,900 179,929 234,829
Depreciation
At 1 April 2023 - 30,539 30,539
Charge for year 587 10,372 10,959
At 31 March 2024 587 40,911 41,498
Net book value
At 31 March 2024 54,313 139,018 193,331
At 31 March 2023 - 38,761 38,761

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 954,636 1,316,879
Amounts owed by group undertakings 31,454 2,978
Other debtors 7,300 -
Tax 9,025 2,391
VAT 55,989 99,231
Prepayments and accrued income 47,976 71,330
1,106,380 1,492,809

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 36,364 36,364
Hire purchase contracts (see note 8) 54,410 12,300
Trade creditors 1,092,622 1,190,069
Amounts owed to group undertakings - 330
Tax 6,937 -
Social security and other taxes 35,264 34,409
Pension owing 4,554 4,598
Other creditors 16,495 10,377
Accruals and deferred income 331,231 5,979
1,577,877 1,294,426

WELDRITE STRUCTURES LIMITED (REGISTERED NUMBER: 04486335)

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


7. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans - 1-2 years 36,364 36,364
Bank loans - 2-5 years 6,061 42,424
Hire purchase contracts (see note 8) 111,828 35,709
154,253 114,497

8. Leasing agreements

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 54,410 12,300
Between one and five years 111,828 35,709
166,238 48,009

Non-cancellable operating leases
2024 2023
£    £   
Within one year 46,333 44,333
Between one and five years 40,000 86,333
86,333 130,666

9. Secured debts

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 166,238 48,009

All amounts due to, or to become due to, Lloyds Bank PLC are secured against all the assets of the company, by way of a debenture dated 27 May 2014.

Amounts falling due under hire purchase agreements are secured against the assets to which they relate.

10. Provisions for liabilities
2024 2023
£    £   
Deferred tax 32,730 15,499

WELDRITE STRUCTURES LIMITED (REGISTERED NUMBER: 04486335)

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


10. Provisions for liabilities - continued

Deferred
tax
£   
Balance at 1 April 2023 15,499
Charge to Income statement during year 17,231
Balance at 31 March 2024 32,730

11. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

12. Ultimate controlling party

The company is under the control of the director, Mr S Dyke, and his wife, by virtue of their combined 100% holding of the issued share capital of the parent company, Weldrite Group Ltd.