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REGISTERED NUMBER: 02888263 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Structural Fabrications Limited

Structural Fabrications Limited (Registered number: 02888263)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Structural Fabrications Limited

Company Information
for the Year Ended 31 January 2024







DIRECTOR: S S Kang





SECRETARY: S S Kang





REGISTERED OFFICE: 2 Castings Road
Sir Francis Ley Industrial Park South
Derby
DE23 8YL





REGISTERED NUMBER: 02888263 (England and Wales)





ACCOUNTANTS: Bates Weston LLP
Chartered Accountants
The Mills
Canal Street
Derby
DE1 2RJ

Structural Fabrications Limited (Registered number: 02888263)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 133,753 141,839
133,753 141,839

CURRENT ASSETS
Stocks 2,500 20,000
Debtors 6 763,890 1,199,026
Cash at bank 122,115 120,583
888,505 1,339,609
CREDITORS
Amounts falling due within one year 7 780,304 1,298,096
NET CURRENT ASSETS 108,201 41,513
TOTAL ASSETS LESS CURRENT
LIABILITIES

241,954

183,352

CREDITORS
Amounts falling due after more than one
year

8

(97,561

)

(145,407

)

PROVISIONS FOR LIABILITIES (31,857 ) (31,857 )
NET ASSETS 112,536 6,088

CAPITAL AND RESERVES
Called up share capital 586 586
Share premium 2,482 2,482
Retained earnings 109,468 3,020
SHAREHOLDERS' FUNDS 112,536 6,088

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

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

Structural Fabrications Limited (Registered number: 02888263)

Balance Sheet - continued
31 January 2024


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 15 October 2024 and were signed by:





S S Kang - Director


Structural Fabrications Limited (Registered number: 02888263)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Structural 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 represents net invoiced sales of goods and services, excluding value added tax, including, where applicable, relevant costs and overheads plus attributable profit to date recoverable on contracts.

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 leasehold property- over the period of the lease
Plant and machinery- 25% on reducing balance
Fixtures and fittings- 15% on reducing balance
Motor vehicles- 25% on reducing balance
Computer equipment- 15% on reducing balance

Deferred tax
Provision is made at current rates for taxation deferred in respect of all timing differences.

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 29 (2023 - 28 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 18,005
AMORTISATION
At 1 February 2023
and 31 January 2024 18,005
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 -

Structural Fabrications Limited (Registered number: 02888263)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

5. TANGIBLE FIXED ASSETS
Improvements
to Fixtures
leasehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 February 2023 81,698 326,790 54,806
Additions - 574 -
At 31 January 2024 81,698 327,364 54,806
DEPRECIATION
At 1 February 2023 45,384 310,546 49,701
Charge for year 4,085 4,134 767
At 31 January 2024 49,469 314,680 50,468
NET BOOK VALUE
At 31 January 2024 32,229 12,684 4,338
At 31 January 2023 36,314 16,244 5,105

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 February 2023 174,279 115,412 752,985
Additions 21,995 - 22,569
At 31 January 2024 196,274 115,412 775,554
DEPRECIATION
At 1 February 2023 125,403 80,112 611,146
Charge for year 16,377 5,292 30,655
At 31 January 2024 141,780 85,404 641,801
NET BOOK VALUE
At 31 January 2024 54,494 30,008 133,753
At 31 January 2023 48,876 35,300 141,839


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 436,209 406,866
Amounts owed by group undertakings 56 155,632
Amounts recoverable on contract 250,000 565,000
Other debtors 36,115 32,265
Owed by related parties 5,362 4,155
Tax - 6,017
Prepayments and accrued income 36,148 29,091
763,890 1,199,026

Structural Fabrications Limited (Registered number: 02888263)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 133,572 411,455
Hire purchase contracts 9,901 4,935
Trade creditors 267,717 343,563
Tax 63,000 24,984
Social security and other taxes 261,174 470,747
Accruals and deferred income 44,940 42,412
780,304 1,298,096

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 56,000 56,004
Bank loans - 2-5 years 23,334 79,325
Hire purchase contracts 18,227 10,078
97,561 145,407

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 77,572 355,451
Bank loans 135,334 191,333
Hire purchase contracts 28,128 15,013
241,034 561,797

Debts are secured on the assets to which they relate.