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REGISTERED NUMBER: 04355554 (England and Wales)


















FOLBIGG FABRICATIONS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






FOLBIGG FABRICATIONS LIMITED (REGISTERED NUMBER: 04355554)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FOLBIGG FABRICATIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: S R Hunt





SECRETARY: S M Hunt





REGISTERED OFFICE: Elfed House
Oak Tree Court
Cardiff Gate Business Park
CARDIFF
CF23 8RS





REGISTERED NUMBER: 04355554 (England and Wales)





ACCOUNTANTS: MHA (trading name of MacIntyre Hudson LLP)
Limited liability partnership in England & Wales
Registered number OC312313
Elfed House
Oak Tree Court
Cardiff Gate Business Park
CARDIFF
County of Cardiff
CF23 8RS

FOLBIGG FABRICATIONS LIMITED (REGISTERED NUMBER: 04355554)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 209,593 205,316

CURRENT ASSETS
Stocks 7,200 6,000
Debtors 5 1,059,905 1,026,995
Cash at bank and in hand 166,204 108,177
1,233,309 1,141,172
CREDITORS
Amounts falling due within one year 6 (120,409 ) (116,043 )
NET CURRENT ASSETS 1,112,900 1,025,129
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,322,493

1,230,445

PROVISIONS FOR LIABILITIES (91,987 ) (82,313 )
NET ASSETS 1,230,506 1,148,132

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 1,230,406 1,148,032
SHAREHOLDERS' FUNDS 1,230,506 1,148,132

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 Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 September 2024 and were signed by:





S R Hunt - Director


FOLBIGG FABRICATIONS LIMITED (REGISTERED NUMBER: 04355554)

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


1. STATUTORY INFORMATION

Folbigg 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.

The company's functional and presentational currency in the financial statements is Sterling (£), rounded to the nearest pound.

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

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.

There have been no material departures from Financial Reporting Standard 102 1A, other than that noted below in respect of stock.

Turnover
Turnover is comprised of amounts billed and billable in respect of the manufacturing of metal structures during the year, excluding value added tax. Turnover has been reduced by a provision for expected remedial works for sales made in the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 33% on cost
Motor vehicles - 25% on reducing balance

Stocks
The value of stock has been estimated by the director.

Non-derivative financial instruments
Non-derivative financial instruments comprise trade debtors, cash, trade and other creditors. Basic financial instruments are recognised at amortised cost.

Current taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantively enacted at the balance sheet date.

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.

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.

FOLBIGG FABRICATIONS LIMITED (REGISTERED NUMBER: 04355554)

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


2. ACCOUNTING POLICIES - continued

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

Unbilled work
Work done at the balance sheet date which has not been billed, has been recognised as turnover. Turnover recognised in this manner is based on an assessment of the fair value of the work completed at the balance sheet date as a proportion of the total value of the engagement. Provision is made against unbilled amounts on those engagements where the right to receive payment is contingent on factors outside the control of the company. Unbilled revenue is included in debtors.

Government grants
Grants received towards capital expenditure are treated as deferred income and are amortised to the profit and loss account in line with the depreciation of the asset to which it relates.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 12 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2023 268,382 4,648 123,198 396,228
Additions 9,857 739 24,740 35,336
Disposals - - (9,390 ) (9,390 )
At 31 March 2024 278,239 5,387 138,548 422,174
DEPRECIATION
At 1 April 2023 114,928 800 75,184 190,912
Charge for year 15,817 1,696 12,571 30,084
Eliminated on disposal - - (8,415 ) (8,415 )
At 31 March 2024 130,745 2,496 79,340 212,581
NET BOOK VALUE
At 31 March 2024 147,494 2,891 59,208 209,593
At 31 March 2023 153,454 3,848 48,014 205,316

5. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 188,915 176,664
Amounts to be billed 9,839 11,953
Director's current account 102,376 102,356
Prepayments and accrued income 6,392 4,619
307,522 295,592

FOLBIGG FABRICATIONS LIMITED (REGISTERED NUMBER: 04355554)

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


5. DEBTORS - continued
2024 2023
£    £   
Amounts falling due after more than one year:
Related party loan 723,206 702,226
Other debtors 29,177 29,177
752,383 731,403

Aggregate amounts 1,059,905 1,026,995

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 45,659 60,593
Corporation tax 30,188 7,315
Social security and other taxes 5,159 12,148
VAT 18,467 12,360
Other creditors 1,247 2,770
Accruals and deferred income 8,678 8,623
Deferred government grants 11,011 12,234
120,409 116,043

7. CALLED UP SHARE CAPITAL

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

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
S R Hunt
Balance outstanding at start of year 102,356 100,311
Amounts advanced 32,020 32,045
Amounts repaid (32,000 ) (30,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 102,376 102,356

There are no fixed repayment terms and interest has been charged on the balance at a commercial rate.