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REGISTERED NUMBER: SC371844 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Nufab Engineering Limited

Nufab Engineering Limited (Registered number: SC371844)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Nufab Engineering Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: W Ferguson
A Tomkinson





REGISTERED OFFICE: 14A Rowantree Avenue
Newhouse Industrial Estate
Newhouse
Motherwell
ML1 5SG





REGISTERED NUMBER: SC371844 (Scotland)





ACCOUNTANTS: MRA Business Services Limited
Chartered Accountants
2 & 6 Wellgatehead
Lanark
Lanarkshire
ML11 9AA

Nufab Engineering Limited (Registered number: SC371844)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 496,666 488,219

CURRENT ASSETS
Stocks 64,500 64,200
Debtors 5 530,517 565,397
Cash at bank 523,533 515,311
1,118,550 1,144,908
CREDITORS
Amounts falling due within one year 6 355,076 470,514
NET CURRENT ASSETS 763,474 674,394
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,260,140

1,162,613

CREDITORS
Amounts falling due after more than one year 7 33,843 32,308
NET ASSETS 1,226,297 1,130,305

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,226,197 1,130,205
SHAREHOLDERS' FUNDS 1,226,297 1,130,305

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 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 October 2024 and were signed on its behalf by:




W Ferguson - Director



A Tomkinson - Director


Nufab Engineering Limited (Registered number: SC371844)

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

1. STATUTORY INFORMATION

Nufab Engineering Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

These financial statements for the year ended 31 January 2017 are the first financial statements that comply with FRS102 Section1A small entities. The date of transition is 1 February 2016.

Significant judgements and estimates
In preparing these financial statements, management have not been required to make significant judgements or estimates outwith the stated accounting policies.

Changes in accounting policies
The transition to FRS102 Section 1A small entities has resulted in a small number of changes in accounting policies to those used previously however this has no impact on opening equity and profit for the comparative accounting period.

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

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 etc - at variable rates 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.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2023 - 32 ) .

Nufab Engineering Limited (Registered number: SC371844)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023 940,684
Additions 53,199
At 31 January 2024 993,883
DEPRECIATION
At 1 February 2023 452,465
Charge for year 44,752
At 31 January 2024 497,217
NET BOOK VALUE
At 31 January 2024 496,666
At 31 January 2023 488,219

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 517,140 564,607
Other debtors 13,377 790
530,517 565,397

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 10,811 10,884
Hire purchase contracts 9,324 42,924
Trade creditors 200,238 211,644
Taxation and social security 115,034 161,845
Other creditors 19,669 43,217
355,076 470,514

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans 13,641 23,288
Hire purchase contracts 20,202 9,020
33,843 32,308