Silverfin false false 30/04/2024 01/05/2023 30/04/2024 P R Christopher 12/06/2020 17 October 2024 The principal activity of the Company during the financial year was a design, fabrication and installation company. 08804490 2024-04-30 08804490 bus:Director1 2024-04-30 08804490 2023-04-30 08804490 core:CurrentFinancialInstruments 2024-04-30 08804490 core:CurrentFinancialInstruments 2023-04-30 08804490 core:Non-currentFinancialInstruments 2024-04-30 08804490 core:Non-currentFinancialInstruments 2023-04-30 08804490 core:ShareCapital 2024-04-30 08804490 core:ShareCapital 2023-04-30 08804490 core:RetainedEarningsAccumulatedLosses 2024-04-30 08804490 core:RetainedEarningsAccumulatedLosses 2023-04-30 08804490 core:PlantMachinery 2023-04-30 08804490 core:Vehicles 2023-04-30 08804490 core:OfficeEquipment 2023-04-30 08804490 core:PlantMachinery 2024-04-30 08804490 core:Vehicles 2024-04-30 08804490 core:OfficeEquipment 2024-04-30 08804490 2023-05-01 2024-04-30 08804490 bus:FilletedAccounts 2023-05-01 2024-04-30 08804490 bus:SmallEntities 2023-05-01 2024-04-30 08804490 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 08804490 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 08804490 bus:Director1 2023-05-01 2024-04-30 08804490 core:PlantMachinery 2023-05-01 2024-04-30 08804490 core:Vehicles 2023-05-01 2024-04-30 08804490 core:OfficeEquipment 2023-05-01 2024-04-30 08804490 2022-05-01 2023-04-30 08804490 core:Non-currentFinancialInstruments 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Company No: 08804490 (England and Wales)

CASTLETECH FABRICATIONS LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

CASTLETECH FABRICATIONS LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

CASTLETECH FABRICATIONS LIMITED

BALANCE SHEET

As at 30 April 2024
CASTLETECH FABRICATIONS LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 77,475 30,395
77,475 30,395
Current assets
Stocks 4 0 46,883
Debtors 5 344,468 419,798
Cash at bank and in hand 167,468 97,848
511,936 564,529
Creditors: amounts falling due within one year 6 ( 315,115) ( 280,338)
Net current assets 196,821 284,191
Total assets less current liabilities 274,296 314,586
Creditors: amounts falling due after more than one year 7 ( 10,833) ( 20,833)
Provision for liabilities ( 12,005) 0
Net assets 251,458 293,753
Capital and reserves
Called-up share capital 1,000 1,000
Profit and loss account 250,458 292,753
Total shareholder's funds 251,458 293,753

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Castletech Fabrications Limited (registered number: 08804490) were approved and authorised for issue by the Director on 17 October 2024. They were signed on its behalf by:

P R Christopher
Director
CASTLETECH FABRICATIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
CASTLETECH FABRICATIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Castletech Fabrications Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Turnover from the supply of services represents the value of services provided
under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws

Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a basis over its expected useful life, as follows:

Plant and machinery 15 % reducing balance
Vehicles 20 % reducing balance
Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 5 3

3. Tangible assets

Plant and machinery Vehicles Office equipment Total
£ £ £ £
Cost
At 01 May 2023 14,532 40,130 13,013 67,675
Additions 50,313 0 3,950 54,263
At 30 April 2024 64,845 40,130 16,963 121,938
Accumulated depreciation
At 01 May 2023 8,682 20,268 8,330 37,280
Charge for the financial year 1,528 3,973 1,682 7,183
At 30 April 2024 10,210 24,241 10,012 44,463
Net book value
At 30 April 2024 54,635 15,889 6,951 77,475
At 30 April 2023 5,850 19,862 4,683 30,395

4. Stocks

2024 2023
£ £
Work in progress (secured) 0 46,883

5. Debtors

2024 2023
£ £
Trade debtors 182,362 311,412
Other debtors 162,106 108,386
344,468 419,798

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,000 10,000
Trade creditors 138,180 132,516
Taxation and social security 15,957 24,869
Other creditors 150,978 112,953
315,115 280,338

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 10,833 20,833

There are no amounts included above in respect of which any security has been given by the small entity.

8. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Advanced to director 121,061 75,679

Interest @ 2.25 % was charged on the overdrawn director's loan account,