Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 December 2021 false 1 April 2023 31 March 2024 31 March 2024 09892654 M Collins G Thompson iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09892654 2023-03-31 09892654 2024-03-31 09892654 2023-04-01 2024-03-31 09892654 frs-core:CurrentFinancialInstruments 2024-03-31 09892654 frs-core:Non-currentFinancialInstruments 2024-03-31 09892654 frs-core:FurnitureFittings 2024-03-31 09892654 frs-core:FurnitureFittings 2023-04-01 2024-03-31 09892654 frs-core:FurnitureFittings 2023-03-31 09892654 frs-core:MotorVehicles 2024-03-31 09892654 frs-core:MotorVehicles 2023-04-01 2024-03-31 09892654 frs-core:MotorVehicles 2023-03-31 09892654 frs-core:PlantMachinery 2024-03-31 09892654 frs-core:PlantMachinery 2023-04-01 2024-03-31 09892654 frs-core:PlantMachinery 2023-03-31 09892654 frs-core:ShareCapital 2024-03-31 09892654 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 09892654 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09892654 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 09892654 frs-bus:SmallEntities 2023-04-01 2024-03-31 09892654 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 09892654 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 09892654 frs-bus:Director1 2023-04-01 2024-03-31 09892654 frs-bus:Director2 2023-04-01 2024-03-31 09892654 frs-countries:EnglandWales 2023-04-01 2024-03-31 09892654 2021-11-30 09892654 2023-03-31 09892654 2021-12-01 2023-03-31 09892654 frs-core:CurrentFinancialInstruments 2023-03-31 09892654 frs-core:Non-currentFinancialInstruments 2023-03-31 09892654 frs-core:ShareCapital 2023-03-31 09892654 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 09892654
Fabricated & Machined Solutions Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Hancock & Hastings Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09892654
31 March 2024 31 March 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 84,067 73,485
84,067 73,485
CURRENT ASSETS
Stocks 5 58,343 63,020
Debtors 6 243,865 184,743
Cash at bank and in hand 339,931 313,849
642,139 561,612
Creditors: Amounts Falling Due Within One Year 7 (195,462 ) (218,606 )
NET CURRENT ASSETS (LIABILITIES) 446,677 343,006
TOTAL ASSETS LESS CURRENT LIABILITIES 530,744 416,491
Creditors: Amounts Falling Due After More Than One Year 8 (24,464 ) (31,666 )
NET ASSETS 506,280 384,825
CAPITAL AND RESERVES
Called up share capital 9 105 105
Profit and Loss Account 506,175 384,720
SHAREHOLDERS' FUNDS 506,280 384,825
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Page 2
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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
M Collins
Director
19/09/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Fabricated & Machined Solutions Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09892654 . The registered office is Unit 4 Blackburn Road, Houghton Regis, Dunstable, LU5 5BQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% RB
Motor Vehicles 25% RB
Fixtures & Fittings 25% RB
2.4. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 4)
6 4
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4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 April 2023 180,596 13,058 15,163 208,817
Additions 35,275 3,329 - 38,604
As at 31 March 2024 215,871 16,387 15,163 247,421
Depreciation
As at 1 April 2023 117,556 8,536 9,240 135,332
Provided during the period 24,579 1,987 1,456 28,022
As at 31 March 2024 142,135 10,523 10,696 163,354
Net Book Value
As at 31 March 2024 73,736 5,864 4,467 84,067
As at 1 April 2023 63,040 4,522 5,923 73,485
5. Stocks
31 March 2024 31 March 2023
£ £
Stock 35,694 27,672
Work in progress 22,649 35,348
58,343 63,020
6. Debtors
31 March 2024 31 March 2023
£ £
Due within one year
Trade debtors 243,865 182,360
Other debtors - 2,383
243,865 184,743
7. Creditors: Amounts Falling Due Within One Year
31 March 2024 31 March 2023
£ £
Trade creditors 44,197 39,631
Corporation tax 59,471 68,783
Other taxes and social security 3,269 1,878
VAT 44,508 36,771
Net wages - 2,811
Other creditors 736 72
Accruals and deferred income 30,883 29,279
Directors' loan accounts 12,398 39,381
195,462 218,606
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8. Creditors: Amounts Falling Due After More Than One Year
31 March 2024 31 March 2023
£ £
Bank loans 24,464 31,666
9. Share Capital
31 March 2024 31 March 2023
£ £
Allotted, Called up and fully paid 105 105
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