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REGISTERED NUMBER: 05353811 (England and Wales)















ABRIDGED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

S. SCHOFIELD STEEL FABRICATIONS LIMITED

S. SCHOFIELD STEEL FABRICATIONS LIMITED (REGISTERED NUMBER: 05353811)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 8

S. SCHOFIELD STEEL FABRICATIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: Mr S F Schofield





REGISTERED OFFICE: 17 Victoria Road East
Thornton Cleveleys
Lancashire
FY5 5HT





REGISTERED NUMBER: 05353811 (England and Wales)





ACCOUNTANTS: Miller Roskell Limited
Chartered Certified Accountants
17 Victoria Road East
Thornton Cleveleys
Lancashire
FY5 5HT

S. SCHOFIELD STEEL FABRICATIONS LIMITED (REGISTERED NUMBER: 05353811)

ABRIDGED BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 476,467 371,622
476,467 371,622

CURRENT ASSETS
Stocks 175,200 107,654
Debtors 177,819 235,964
Cash at bank 378,316 193,057
731,335 536,675
CREDITORS
Amounts falling due within one year 282,334 191,873
NET CURRENT ASSETS 449,001 344,802
TOTAL ASSETS LESS CURRENT
LIABILITIES

925,468

716,424

CREDITORS
Amounts falling due after more than one
year

(13,774

)

(33,108

)

PROVISIONS FOR LIABILITIES (94,338 ) (63,294 )
NET ASSETS 817,356 620,022

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 817,256 619,922
SHAREHOLDERS' FUNDS 817,356 620,022

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

S. SCHOFIELD STEEL FABRICATIONS LIMITED (REGISTERED NUMBER: 05353811)

ABRIDGED BALANCE SHEET - continued
29 FEBRUARY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 29 February 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 September 2024 and were signed by:





Mr S F Schofield - Director


S. SCHOFIELD STEEL FABRICATIONS LIMITED (REGISTERED NUMBER: 05353811)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

S. Schofield Steel 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.

Turnover
Turnover is the amount receivable for the provision of goods and services falling within the company's ordinary activities, excluding value added tax.

Turnover from the provision of goods is recognised when the risks and rewards of ownership of goods have been transferred to the customer. The risks and rewards of ownership of goods are deemed to have been transferred when the goods are shipped to, or are picked up by, the customer.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 25% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks 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.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


S. SCHOFIELD STEEL FABRICATIONS LIMITED (REGISTERED NUMBER: 05353811)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 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
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.

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 10 (2023 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2023
and 29 February 2024 25,000
AMORTISATION
At 1 March 2023
and 29 February 2024 25,000
NET BOOK VALUE

At 29 February 2024 -
At 28 February 2023 -

S. SCHOFIELD STEEL FABRICATIONS LIMITED (REGISTERED NUMBER: 05353811)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2023 589,707
Additions 322,579
Disposals (168,148 )
At 29 February 2024 744,138
DEPRECIATION
At 1 March 2023 218,085
Charge for year 77,387
Eliminated on disposal (27,801 )
At 29 February 2024 267,671
NET BOOK VALUE
At 29 February 2024 476,467
At 28 February 2023 371,622

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 March 2023 85,000
Additions 27,771
Transfer to ownership (31,000 )
At 29 February 2024 81,771
DEPRECIATION
At 1 March 2023 25,928
Charge for year 17,368
Transfer to ownership (17,772 )
At 29 February 2024 25,524
NET BOOK VALUE
At 29 February 2024 56,247
At 28 February 2023 59,072

S. SCHOFIELD STEEL FABRICATIONS LIMITED (REGISTERED NUMBER: 05353811)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

6. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 February 2024 and 28 February 2023:

2024 2023
£    £   
Mr S F Schofield
Balance outstanding at start of year 32,678 63,748
Amounts advanced 48,552 32,678
Amounts repaid (32,678 ) (63,748 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 48,552 32,678

7. RELATED PARTY DISCLOSURES

The director operated a loan account with the company. The balance owed to the director at 29 February 2024 was £(48,552) (2023 - £(32,678)).

8. ULTIMATE CONTROLLING PARTY

Ultimate control of the company is held by Mr Schofield.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
S. SCHOFIELD STEEL FABRICATIONS LIMITED

The following reproduces the text of the report prepared for the director 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 Abridged Income Statement and certain other primary statements and the Report of the Director 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 S. Schofield Steel Fabrications Limited for the year ended 29 February 2024 which comprise the Abridged Income Statement, Abridged Balance Sheet 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of S. Schofield Steel Fabrications Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of S. Schofield Steel Fabrications Limited and state those matters that we have agreed to state to the director of S. Schofield Steel Fabrications Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that S. Schofield Steel 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 S. Schofield Steel Fabrications Limited. You consider that S. Schofield Steel 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 S. Schofield Steel 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.






Miller Roskell Limited
Chartered Certified Accountants
17 Victoria Road East
Thornton Cleveleys
Lancashire
FY5 5HT


17 September 2024