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REGISTERED NUMBER: 03923158 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

ADMIRAL WELDING LIMITED

ADMIRAL WELDING LIMITED (REGISTERED NUMBER: 03923158)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ADMIRAL WELDING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: A V Follett





SECRETARY: Tayler Bradshaw Limited





REGISTERED OFFICE: Cambridge House
16 High Street
Saffron Walden
Essex
CB10 1AX





REGISTERED NUMBER: 03923158 (England and Wales)





ACCOUNTANTS: Tayler Bradshaw
Cambridge House
16 High Street
Saffron Walden
Essex
CB10 1AX

ADMIRAL WELDING LIMITED (REGISTERED NUMBER: 03923158)

BALANCE SHEET
29 FEBRUARY 2024

29/2/24 28/2/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 40,096 37,227

CURRENT ASSETS
Stocks 75,000 73,500
Debtors 5 643,458 480,108
Cash at bank and in hand 23,965 46,870
742,423 600,478
CREDITORS
Amounts falling due within one year 6 611,059 514,556
NET CURRENT ASSETS 131,364 85,922
TOTAL ASSETS LESS CURRENT LIABILITIES 171,460 123,149

CREDITORS
Amounts falling due after more than one
year

7

(15,004

)

(20,247

)

PROVISIONS FOR LIABILITIES (3,073 ) (1,912 )
NET ASSETS 153,383 100,990

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 153,381 100,988
SHAREHOLDERS' FUNDS 153,383 100,990

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

ADMIRAL WELDING LIMITED (REGISTERED NUMBER: 03923158)

BALANCE SHEET - continued
29 FEBRUARY 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 director and authorised for issue on 25 November 2024 and were signed by:





A V Follett - Director


ADMIRAL WELDING LIMITED (REGISTERED NUMBER: 03923158)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Admiral Welding 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 etc - 25% 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.

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.

ADMIRAL WELDING LIMITED (REGISTERED NUMBER: 03923158)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

2. ACCOUNTING POLICIES - continued

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 10 (2023 - 13 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023 190,943
Additions 15,007
At 29 February 2024 205,950
DEPRECIATION
At 1 March 2023 153,716
Charge for year 12,138
At 29 February 2024 165,854
NET BOOK VALUE
At 29 February 2024 40,096
At 28 February 2023 37,227

ADMIRAL WELDING LIMITED (REGISTERED NUMBER: 03923158)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 March 2023 33,033
Additions 12,665
At 29 February 2024 45,698
DEPRECIATION
At 1 March 2023 5,505
Charge for year 9,521
At 29 February 2024 15,026
NET BOOK VALUE
At 29 February 2024 30,672
At 28 February 2023 27,528

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
£    £   
Trade debtors 603,453 335,658
Other debtors 40,005 144,450
643,458 480,108

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
£    £   
Bank loans and overdrafts 2,697 3,386
Hire purchase contracts 10,118 6,270
Trade creditors 252,131 226,810
Taxation and social security 37,718 31,437
Other creditors 308,395 246,653
611,059 514,556

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
29/2/24 28/2/23
£    £   
Bank loans - 2,697
Hire purchase contracts 15,004 17,550
15,004 20,247