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REGISTERED NUMBER: 06566293 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

B W Fabrications Limited

B W Fabrications Limited (Registered number: 06566293)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


B W Fabrications Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: R G Burns





REGISTERED OFFICE: Suite 5 Corum 2
Corum Office Park
Crown Way
Warmley
Bristol
BS30 8FJ





REGISTERED NUMBER: 06566293 (England and Wales)





ACCOUNTANTS: Verinder Powell Associates Ltd
Suite 5 Corum 2
Corum Office Park
Crown Way
Warmley
Bristol
BS30 8FJ

B W Fabrications Limited (Registered number: 06566293)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 323,440 163,223
323,440 163,223

CURRENT ASSETS
Stocks 6 29,754 22,809
Debtors 7 432,241 344,558
Cash at bank and in hand 268,390 227,791
730,385 595,158
CREDITORS
Amounts falling due within one year 8 664,459 473,490
NET CURRENT ASSETS 65,926 121,668
TOTAL ASSETS LESS CURRENT LIABILITIES 389,366 284,891

CREDITORS
Amounts falling due after more than one
year

9

(194,327

)

(153,960

)

PROVISIONS FOR LIABILITIES (53,055 ) (27,527 )
NET ASSETS 141,984 103,404

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 141,982 103,402
141,984 103,404

B W Fabrications Limited (Registered number: 06566293)

Balance Sheet - continued
31 March 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 October 2024 and were signed by:





R G Burns - Director


B W Fabrications Limited (Registered number: 06566293)

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

1. STATUTORY INFORMATION

B W 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 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.

There have been no material departures from the Financial Reporting Standard 102 1A.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
The turnover shown in the profit and loss account represents rent receivable and income from the sale of stock properties during the year, net of VAT. Turnover arises from income received under operating lease agreements through the letting of investment properties and the disposal of properties developed for sale.

The company recognises revenue revenue when:
- the amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity;
- the entity retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the services provided;
- the cost incurred or to be incurred in respect of the transaction can be reliably measured;
- all of the significant risks and rewards of ownership have been transferred to the customer; and
- specific criteria have been met for each of the company's activities.

Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date.

B W Fabrications Limited (Registered number: 06566293)

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

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold improvements - 10% Straight line
Plant and machinery - 25% Reducing balance
Furniture, fittings and equipment - 25% Reducing balance
Motor vehicles - 25% Straight line

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method. The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately 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.

B W Fabrications Limited (Registered number: 06566293)

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

2. ACCOUNTING POLICIES - continued

Amortisation
Amortisation was provided on intangible assets so as to write off the cost, less any estimated residual
value, over their useful life and these assets are now fully amortised.

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.

Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 169,469
AMORTISATION
At 1 April 2023
and 31 March 2024 169,469
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

B W Fabrications Limited (Registered number: 06566293)

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

5. TANGIBLE FIXED ASSETS
Furniture,
fittings
Leasehold Plant and and Motor
improvements machinery equipment vehicles Totals
£    £    £    £    £   
COST
At 1 April 2023 15,956 179,997 40,005 158,102 394,060
Additions - 214,156 - - 214,156
Disposals - (33,751 ) - (23,555 ) (57,306 )
At 31 March 2024 15,956 360,402 40,005 134,547 550,910
DEPRECIATION
At 1 April 2023 14,732 100,165 30,570 85,370 230,837
Charge for year 249 21,626 2,358 24,559 48,792
Eliminated on disposal - (28,604 ) - (23,555 ) (52,159 )
At 31 March 2024 14,981 93,187 32,928 86,374 227,470
NET BOOK VALUE
At 31 March 2024 975 267,215 7,077 48,173 323,440
At 31 March 2023 1,224 79,832 9,435 72,732 163,223

6. STOCKS
31.3.24 31.3.23
£    £   
Work in progress 8,633 6,383
Finished goods and goods for resale 21,121 16,426
29,754 22,809

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 406,410 319,406
Other debtors 25,831 25,152
432,241 344,558

B W Fabrications Limited (Registered number: 06566293)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 45,000 45,000
Hire purchase contracts 62,621 22,929
Trade creditors 330,618 186,488
Amounts owed to group undertakings 7,632 8,000
Taxation and social security 39,372 53,524
Other creditors 179,216 157,549
664,459 473,490

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 56,250 101,250
Hire purchase contracts 138,077 52,710
194,327 153,960

Included in bank loans is a balance of £101,250 (2023 - £146,250) which is guaranteed by the government and unsecured.

10. SECURED DEBTS

Obligations under finance lease contracts of £200,698 (2023 - £75,639) are secured on the assets to which they relate.

11. OFF BALANCE SHEET COMMITMENTS

At the year end the company had future minimum lease payments due under non-cancellable operating leases totalling £283,083 (2023 - £322,583).

12. PENSION COMMITMENTS

The entity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the entity in an independently administered fund. Contributions totalling £995 (2023 - £806) were payable to the fund at the reporting date.

B W Fabrications Limited (Registered number: 06566293)

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

13. RELATED PARTY DISCLOSURES

Loans from related parties



Key
management


Total
2024 £ £
At start of period 16,304 16,304
Advanced 5,704 5,704
Repaid - -
At end of period 22,008 22,008


Key
management


Total
2023 £ £
At start of the period 10,080 10,080
Advanced 6,224 6,224
Repaid - -
At end of period 16,304 16,304

The loans from key management are interest free and repayable on demand.

14. ULTIMATE CONTROLLING PARTY

The company's immediate parent is BWF Services Ltd, a company incorporated in England and Wales.

The ultimate controlling party is R G Burns.