Registered number
11468573
Central Fabrications Midlands Limited
Filleted Accounts
31 July 2024
Central Fabrications Midlands Limited
Registered number: 11468573
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £ £ £
Fixed assets
Tangible assets 4 683,443 972,597
Current assets
Stocks 726,564 1,370,179
Debtors 5 2,100,175 2,274,724
Cash at bank and in hand 148,034 9,694
2,974,773 3,654,597
Creditors: amounts falling due within one year 6 (3,170,612) (3,955,392)
Net current liabilities (195,839) (300,795)
Total assets less current liabilities 487,604 671,802
Creditors: amounts falling due after more than one year 7 (176,994) (420,453)
Provisions for liabilities (13,400) -
Net assets 297,210 251,349
Capital and reserves
Called up share capital 9 100 100
Profit and loss account 297,110 251,249
Shareholders' funds 297,210 251,349
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M T Chawner
Director
Approved by the board on 20 November 2024
Central Fabrications Midlands Limited
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

The accounts are presented in Sterling which is the functional currency of the company and rounded to the nearest £.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% reducing balance and 25% straight line
Motor vehicles 20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 64 72
3 Intangible fixed assets £
Goodwill:
Cost
At 1 August 2023 8,000
Disposals (8,000)
At 31 July 2024 -
Amortisation
At 1 August 2023 8,000
On disposals (8,000)
At 31 July 2024 -
Net book value
At 31 July 2024 -
At 31 July 2023 -
4 Tangible fixed assets
Plant and machinery Motor vehicles Total
£ £ £
Cost
At 1 August 2023 1,200,778 238,696 1,439,474
Additions 19,866 10,025 29,891
Disposals (301,550) - (301,550)
At 31 July 2024 919,094 248,721 1,167,815
Depreciation
At 1 August 2023 385,410 81,467 466,877
Charge for the year 99,953 33,451 133,404
On disposals (115,909) - (115,909)
At 31 July 2024 369,454 114,918 484,372
Net book value
At 31 July 2024 549,640 133,803 683,443
At 31 July 2023 815,368 157,229 972,597
5 Debtors 2024 2023
£ £
Trade debtors (Factored debt £1,295,390) 1,475,464 1,980,201
Prepayments and accrued income 113,225 80,340
Other debtors 511,486 214,183
2,100,175 2,274,724
6 Creditors: amounts falling due within one year 2024 2023
£ £
Factoring loan 1,030,326 1,561,661
Obligations under finance lease and hire purchase contracts 182,296 190,060
Trade creditors 1,063,978 1,399,190
Taxation and social security costs 550,897 299,221
Accruals and deferred income 7,975 23,314
Other creditors 335,140 481,946
3,170,612 3,955,392
7 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 176,994 420,453
8 Loans 2024 2023
£ £
Creditors include:
Secured factoring loan 1,038,002 1,561,661
The factoring loan is secured by a fixed and floating charge over all assets of the company.
9 Share capital 2024 2023
£ £
Allotted, called up and fully paid:
Ordinary shares 100 100
10 Other information
Central Fabrications Midlands Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:
Wallows Lane
Walsall
West Midlands
WS1 4AG
Its registered number is: 11468573
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