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REGISTERED NUMBER: 04974461 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

Yorkshire Laser and Fabrications Limited

Yorkshire Laser and Fabrications Limited (Registered number: 04974461)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Yorkshire Laser and Fabrications Limited

Company Information
for the Year Ended 30 November 2023







DIRECTORS: G Orford
M Orford
Mrs C Scott
J Miller





SECRETARY: G Orford





REGISTERED OFFICE: Unit 1 New Court
Mildred Sylvester Way
Normanton
Wakefield
West Yorkshire
WF6 1TA





REGISTERED NUMBER: 04974461 (England and Wales)





ACCOUNTANTS: Charles Stewart & Co Limited
3 Park Square
Leeds
LS1 2NE

Yorkshire Laser and Fabrications Limited (Registered number: 04974461)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,654,697 2,925,170

CURRENT ASSETS
Stocks 579,720 811,350
Debtors 5 1,395,582 1,399,545
Cash at bank and in hand 502,224 562,882
2,477,526 2,773,777
CREDITORS
Amounts falling due within one year 6 1,571,491 1,937,175
NET CURRENT ASSETS 906,035 836,602
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,560,732

3,761,772

CREDITORS
Amounts falling due after more than one
year

7

(978,795

)

(1,346,262

)

PROVISIONS FOR LIABILITIES 9 (593,325 ) (489,670 )
NET ASSETS 1,988,612 1,925,840

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 1,988,512 1,925,740
SHAREHOLDERS' FUNDS 1,988,612 1,925,840

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 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.

Yorkshire Laser and Fabrications Limited (Registered number: 04974461)

Balance Sheet - continued
30 November 2023


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 29 November 2024 and were signed on its behalf by:





M Orford - Director


Yorkshire Laser and Fabrications Limited (Registered number: 04974461)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Yorkshire Laser and 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.

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.
Improvements to property - No depreciation charge
Plant and machinery - 50% on cost, 10% on cost and 5% on cost
Motor vehicles - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads including an allowance for attributable profit accrued to date.

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.

Yorkshire Laser and Fabrications Limited (Registered number: 04974461)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

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.

Amounts recoverable on contracts
Amounts recoverable on contracts represents revenue receivable from customers on contracts in progress at the balance-sheet date. The valuation of amounts recoverable on contracts is adjusted to take up profit to date in accordance with the accounting policy for profit recognition.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 50 (2022 - 50 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 December 2022 40,000 4,350,383 189,633 4,580,016
Additions - 38,776 39,495 78,271
Disposals - - (18,295 ) (18,295 )
At 30 November 2023 40,000 4,389,159 210,833 4,639,992
DEPRECIATION
At 1 December 2022 - 1,590,481 64,365 1,654,846
Charge for year - 317,360 31,384 348,744
Eliminated on disposal - - (18,295 ) (18,295 )
At 30 November 2023 - 1,907,841 77,454 1,985,295
NET BOOK VALUE
At 30 November 2023 40,000 2,481,318 133,379 2,654,697
At 30 November 2022 40,000 2,759,902 125,268 2,925,170

Yorkshire Laser and Fabrications Limited (Registered number: 04974461)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 December 2022 2,194,841 189,633 2,384,474
Additions 25,396 39,495 64,891
Disposals - (18,295 ) (18,295 )
At 30 November 2023 2,220,237 210,833 2,431,070
DEPRECIATION
At 1 December 2022 512,494 64,365 576,859
Charge for year 223,944 31,384 255,328
Eliminated on disposal - (18,295 ) (18,295 )
At 30 November 2023 736,438 77,454 813,892
NET BOOK VALUE
At 30 November 2023 1,483,799 133,379 1,617,178
At 30 November 2022 1,682,347 125,268 1,807,615

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 1,166,708 1,295,558
Taxation 81,521 65,159
Prepayments 40,986 38,828
Amount due from group undertaking 106,367 -
1,395,582 1,399,545

Included in trade debtors are debts against which an invoice discounting loan has been advanced These trade debts act as security against the sum so advanced and disclosed in note 9 to the financial statements.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Hire purchase contracts 369,144 354,374
Trade creditors 477,191 497,373
Corporation tax 2 3,156
Social security and other taxes 115,066 114,503
Other creditors and accruals 94,865 120,023
Invoice discounting loan 515,223 847,746
1,571,491 1,937,175

Included in creditors - amounts falling due within one year is an amount due to the debt financiers totalling £515,223 (2022: £847,746). This sum is secured against approved trade debtors disclosed in note 8 to the financial statements.

Yorkshire Laser and Fabrications Limited (Registered number: 04974461)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Bank loan 111,970 159,091
Hire purchase contracts 866,825 1,187,171
978,795 1,346,262

The bank loan represents a loan under HM Government Coronavirus Business Interruption Loan Scheme.

8. SECURED DEBTS

The following secured debts are included within creditors:

30.11.23 30.11.22
£    £   
Hire purchase contracts 1,235,969 1,541,545
Bank loan 111,970 159,091
Invoice discounting loan 515,223 847,746
1,863,162 2,548,382

The hire purchase creditors are secured on the assets to which they relate.
The invoice discounting loan is secured against approved trade debtors.
The bank loan is secured under the general debenture held over the company's assets.

9. PROVISIONS FOR LIABILITIES
30.11.23 30.11.22
£    £   
Deferred tax 593,325 489,670

Deferred
tax
£   
Balance at 1 December 2022 489,670
Provided during year 103,655
Balance at 30 November 2023 593,325

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.23 30.11.22
value: £    £   
100 Ordinary £1 100 100

Yorkshire Laser and Fabrications Limited (Registered number: 04974461)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

11. RESERVES
Retained
earnings
£   

At 1 December 2022 1,925,740
Profit for the year 62,772
At 30 November 2023 1,988,512

12. RELATED PARTY DISCLOSURES

During the year the company paid rents totalling £54,000 (2022: £54,148) to YLF Property Limited.

During the year the company paid insurance of £2,860 (2022: £3,431) to YLF Property Limited.

Included in trade creditors is an amount due to YLF Property Limited of £13,900 (2022: £11,306).

At 30 November 2023 the company was owed £106,367 (2022: £Nil) by YLF Property Limited.

YLF Property Limited is the parent undertaking of the company.

13. ULTIMATE CONTROL

The company is under the ultimate control of the directors, G E Orford and M Orford.

14. ULTIMATE PARENT UNDERTAKING

The ultimate parent undertaking is YLF Property Limited.