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REGISTERED NUMBER: 04270320 (England and Wales)















Abridged Unaudited Financial Statements for the Year Ended 31 March 2024

for

Complete Welding Services Limited

Complete Welding Services Limited (Registered number: 04270320)






Contents of the Financial Statements
for the year ended 31 March 2024




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Complete Welding Services Limited

Company Information
for the year ended 31 March 2024







DIRECTORS: C Evans
A L Evans





SECRETARY: A L Evans





REGISTERED OFFICE: Unit A, Drury Lane
Chadderton
Oldham
OL9 8EU





REGISTERED NUMBER: 04270320 (England and Wales)





ACCOUNTANTS: S & A Buckley Limited
22 Silverthorne Close
Stalybridge
Cheshire
SK15 2DQ

Complete Welding Services Limited (Registered number: 04270320)

Abridged Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 257,471 141,375
257,471 141,375

CURRENT ASSETS
Stocks 360,526 328,809
Debtors 577,712 535,675
Cash at bank and in hand 124,951 106,170
1,063,189 970,654
CREDITORS
Amounts falling due within one year 650,058 555,637
NET CURRENT ASSETS 413,131 415,017
TOTAL ASSETS LESS CURRENT
LIABILITIES

670,602

556,392

CREDITORS
Amounts falling due after more than one year (123,447 ) (36,000 )

PROVISIONS FOR LIABILITIES (43,323 ) (16,868 )
NET ASSETS 503,832 503,524

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 503,732 503,424
SHAREHOLDERS' FUNDS 503,832 503,524

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 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.

Complete Welding Services Limited (Registered number: 04270320)

Abridged Statement of Financial Position - continued
31 March 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 Statement of Income and Retained Earnings and an abridged Statement of Financial Position for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2024 and were signed on its behalf by:





C Evans - Director


Complete Welding Services Limited (Registered number: 04270320)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

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

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.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of 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 etc - 25% on reducing balance and 20% on reducing balance

Stocks
Stocks 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 Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Complete Welding Services Limited (Registered number: 04270320)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

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.

Government grants
Government grants on capital expenditure are credited to a deferral account and are released to revenue over the expected useful life of the relevant asset by equal annual instalments. Grants of a revenue nature are credited to income in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023
and 31 March 2024 22,544
AMORTISATION
At 1 April 2023
and 31 March 2024 22,544
NET BOOK VALUE

At 31 March 2024 -
At 31 March 2023 -

Complete Welding Services Limited (Registered number: 04270320)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 431,900
Additions 211,756
Disposals (30,023 )
At 31 March 2024 613,633
DEPRECIATION
At 1 April 2023 290,525
Charge for year 81,557
Eliminated on disposal (15,920 )
At 31 March 2024 356,162
NET BOOK VALUE
At 31 March 2024 257,471
At 31 March 2023 141,375

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

Totals
£   
COST
At 1 April 2023 101,090
Additions 165,941
Transfer to ownership (19,185 )
At 31 March 2024 247,846
DEPRECIATION
At 1 April 2023 38,345
Charge for year 57,171
Transfer to ownership (14,632 )
At 31 March 2024 80,884
NET BOOK VALUE
At 31 March 2024 166,962
At 31 March 2023 62,745

Complete Welding Services Limited (Registered number: 04270320)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

6. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 167,015 54,848
Invoice discounting facility 23,753 170,606
190,768 225,454

The invoice discounting facility is secured against the company's book debts.

7. RELATED PARTY DISCLOSURES

During the year, total dividends of £150,000 (2023 - £132,000) were paid to the directors .

Included in debtors due in less than one year is an interest free, unsecured loan of £5,771 (2023: £8,080) to Mr C Evans, a director of the company. This loan was repaid in April 2024.


8. ULTIMATE CONTROLLING PARTY

The controlling party is Mr C and Mrs A L Evans.