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REGISTERED NUMBER: 09165914 (England and Wales)


































Unaudited Financial Statements

for the Year Ended 31 August 2024

for

NORTH EAST FABRICATION LIMITED

NORTH EAST FABRICATION LIMITED (REGISTERED NUMBER: 09165914)






Contents of the Financial Statements
for the year ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NORTH EAST FABRICATION LIMITED

Company Information
for the year ended 31 August 2024







DIRECTORS: A Duffy
Mrs R Duffy





SECRETARY: Mrs R Duffy





REGISTERED OFFICE: Kensington House
3 Kensington
Bishop Auckland
Co. Durham
DL14 6HX





REGISTERED NUMBER: 09165914 (England and Wales)





ACCOUNTANTS: Mitchells Grievson Limited
Kensington House
3 Kensington
Bishop Auckland
Co. Durham
DL14 6HX

NORTH EAST FABRICATION LIMITED (REGISTERED NUMBER: 09165914)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 41,885 51,071

CURRENT ASSETS
Debtors 5 113,012 24,636
Cash at bank and in hand 9,910 14,153
122,922 38,789
CREDITORS
Amounts falling due within one year 6 82,870 38,815
NET CURRENT ASSETS/(LIABILITIES) 40,052 (26 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

81,937

51,045

CREDITORS
Amounts falling due after more than one
year

7

50,711

47,115
NET ASSETS 31,226 3,930

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 31,224 3,928
31,226 3,930

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

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

NORTH EAST FABRICATION LIMITED (REGISTERED NUMBER: 09165914)

Balance Sheet - continued
31 August 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 November 2024 and were signed on its behalf by:





A Duffy - Director


NORTH EAST FABRICATION LIMITED (REGISTERED NUMBER: 09165914)

Notes to the Financial Statements
for the year ended 31 August 2024

1. STATUTORY INFORMATION

North East Fabrication 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 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on cost
Computer equipment - 20% on cost

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 5 (2023 - 5 ) .

NORTH EAST FABRICATION LIMITED (REGISTERED NUMBER: 09165914)

Notes to the Financial Statements - continued
for the year ended 31 August 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 September 2023 72,179 - 927 73,106
Additions 4,431 783 - 5,214
At 31 August 2024 76,610 783 927 78,320
DEPRECIATION
At 1 September 2023 21,552 - 483 22,035
Charge for year 14,226 64 110 14,400
At 31 August 2024 35,778 64 593 36,435
NET BOOK VALUE
At 31 August 2024 40,832 719 334 41,885
At 31 August 2023 50,627 - 444 51,071

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 September 2023
and 31 August 2024 58,794
DEPRECIATION
At 1 September 2023 14,699
Charge for year 11,759
At 31 August 2024 26,458
NET BOOK VALUE
At 31 August 2024 32,336
At 31 August 2023 44,095

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 102,817 18,085
Other debtors 10,195 6,551
113,012 24,636

NORTH EAST FABRICATION LIMITED (REGISTERED NUMBER: 09165914)

Notes to the Financial Statements - continued
for the year ended 31 August 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 12,102 5,400
Hire purchase contracts 8,230 9,914
Trade creditors 12,385 2,402
Taxation and social security 46,169 16,780
Other creditors 3,984 4,319
82,870 38,815

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 28,483 11,373
Hire purchase contracts 22,228 35,742
50,711 47,115

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 30,458 45,656

The hire purchase contracts are secured on the assets to which they relate.