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REGISTERED NUMBER: 07966652 (England and Wales)

































Group Strategic Report,

Report of the Director and

Consolidated Financial Statements

For The Year Ended

29 April 2024

for

R TINDALL (FABRICATORS) HOLDINGS LTD

R TINDALL (FABRICATORS) HOLDINGS LTD (REGISTERED NUMBER: 07966652)






Contents of the Consolidated Financial Statements
For The Year Ended 29 April 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Director 4

Statement of Director's Responsibilities 6

Report of the Independent Auditors 7

Consolidated Profit and Loss Account 11

Consolidated Other Comprehensive Income 12

Consolidated Balance Sheet 13

Company Balance Sheet 14

Consolidated Statement of Changes in Equity 15

Company Statement of Changes in Equity 16

Consolidated Cash Flow Statement 17

Notes to the Consolidated Cash Flow Statement 18

Notes to the Consolidated Financial Statements 20


R TINDALL (FABRICATORS) HOLDINGS LTD

Company Information
For The Year Ended 29 April 2024







DIRECTOR: J B Yearn



SECRETARY:



REGISTERED OFFICE: 8 Eastway
Sale
Cheshire
M33 4DX



REGISTERED NUMBER: 07966652 (England and Wales)



SENIOR STATUTORY AUDITOR: Steven John Collings FCCA



AUDITORS: Leavitt Walmsley Associates Limited
Chartered Certified Accountants and
Statutory Auditors
8 Eastway
Sale
Cheshire
M33 4DX

R TINDALL (FABRICATORS) HOLDINGS LTD (REGISTERED NUMBER: 07966652)

Group Strategic Report
For The Year Ended 29 April 2024

The director presents his strategic report of the company and the group for the year ended 29 April 2024.

The principal activity of the group during the year was that of the supplier of bespoke pre-fabricated sprinkler pipe and mechanical pipework serving the commercial fire and mechanical services industry.

The principal activity of the company is that of a holding company.

REVIEW OF BUSINESS
The group has delivered good results both financially and operationally and the director is satisfied with the results for the year ended 29 April 2024.

Group turnover for the year saw a reduction of just under 8% at £12.9m (2023: £14m). This is due to the subsidiary seeing a reduction in its sales volume in the year.

Despite an overall reduction in group turnover, gross profit margin increased from 19% in 2023 to 21% in 2024 which is encouraging. This is due to cost and selling prices being closely monitored throughout the year to ensure the company's profitability continues to enable it to meet its day-to-day obligations and to remain competitive within the industry.

Administrative expenses have reduced by some 8% which has been largely due to a reduction in payroll costs and legal fees. The company strives to reduce administrative costs as far as possible to ensure profit margins are sustained and these are closely monitored by the director on a regular basis.

The increase in gross profit margin and reduction in administrative costs has seen pre-tax profits increasing to £705k (2023: £581k). It is anticipated that the forthcoming financial year will report similar levels of profit.

During the year, the group acquired the 10% non-controlling interest. This will enable the group to continue with its growth strategy and reinvest additional profits into the business to contribute to this growth.

Group cash reserves have seen a reduction despite an increase in overall profitability. This is primarily due to additional expenditure being incurred in respect of the acquisition of the non-controlling interest and an increase in trade debtors and stock, meaning cash is tied up in other areas of working capital. Sound treasury and cash management ensures that the group continues to maintain cash reserves at an acceptable level to give it sufficient headroom for any unexpected cash outflows that may arise during the course of a financial year.

The group has a strong balance sheet at the year end with net assets of £2.2m (2023: £2.2m). While trade debtors have seen an increase by just under 3%, this is not considered significant.

The group has built on its reputation as one of the market leaders in the industry and will continue this strategy to ensure its customer base receives the highest level of service expected.

The group has continued to invest in plant and machinery to help improve efficiencies which includes enhancing processes across the group through innovation and technology. Labour capacity has increased as the director continues to drive the business forward and improve the group's market share.

PRINCIPAL RISKS AND UNCERTAINTIES
The group's principal risks and uncertainties include:

- Increasing costs due to economic and political issues
- Project programme delay
- Challenges in expanding the workforce due to labour shortages

A principal risk faced by the group relates to a highly competitive tendering market, volatile inflation in the supply chain costs and changes in regulation and government planning. The director manages these risks by ensuring continued investment in the business with the use of innovation and technology in the production process which contributes to increased efficiencies across the group.


R TINDALL (FABRICATORS) HOLDINGS LTD (REGISTERED NUMBER: 07966652)

Group Strategic Report
For The Year Ended 29 April 2024

KEY PERFORMANCE INDICATORS
The director has monitored the progress of the group with reference to certain financial key performance indicators as follows:

Revenue £13m (2023: £14m)
Gross profit £2.7m (2023: £2.8m)
Operating profit £781k (2023: £499k)
Profit before tax £705k (2023: £506k)
Net current assets £613m (2023: £825m)
Free cash flow £131k (2023: £150k)

Key performance indicators (KPIs) include group revenue, gross profit and operating profit. These KPIs are selected as 'key' on the basis that the group is driven by gross margins on contracts undertaken by the subsidiary and the director strives to keep margins as high as possible to preserve profitability to enable the group to meet its day-to-day obligations. Operating profit is also a KPI on the grounds that it is an indicator of business performance, whereas group profit before tax may include exceptional items.

Non-financial KPIs
The non-financial KPI which the director focuses on is the average number of employees in the subsidiary to ensure there is sufficient capacity to meet customers' demands.

Average number of employees: 60 (2023: 53).

FUTURE DEVELOPMENTS
The group will continue to strive to deliver exceptional service to its customers through continuing to invest in innovative and technological advances to create efficiencies in the manufacturing process. Management are looking to further develop relations with its key customer base during the forthcoming financial year to enable growth in the market.

FINANCIAL INSTRUMENTS AND RISK MANAGEMENT
The group's principal financial assets are cash balances, amounts owed by group undertakings and amounts owed by the director. The credit risk associated with amounts owed by group undertakings and amounts owed by the director is linked to recoverability. The director manages this risk by ensuring adequate resources are available at subsidiary level to enable the balances to be repaid on demand. Similarly, the director is able to repay balances due to the subsidiary on demand.

The director constantly monitors cash flow and considers the group is in a strong position in terms of its ability to manage cash flow and liquidity risks.

ON BEHALF OF THE BOARD:





J B Yearn - Director


23 January 2025

R TINDALL (FABRICATORS) HOLDINGS LTD (REGISTERED NUMBER: 07966652)

Report of the Director
For The Year Ended 29 April 2024

The director presents his report with the financial statements of the company and the group for the year ended 29 April 2024.

DIVIDENDS
Interim dividends amounting to £120,000 were paid throughout the year. The director recommends that no final dividend be paid.

DIRECTOR
J B Yearn held office during the whole of the period from 30 April 2023 to the date of this report.

FINANCIAL INSTRUMENTS
The group uses financial instruments. These include bank loans, finance leases, an invoice discounting facility, cash and various items, such as trade and sundry debtors and creditors that arise directly from its operations.

The existence of these financial instruments exposes the group to a number of financial risks, which are described in more detail below:

Liquidity risk
The group seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs and to invest cash safely and profitably. Short-term flexibility is achieved by an invoice discounting facility.

Interest rate risk
The group finances its operations through a mixture of retained profits, bank loans and finance leases. The interest rate exposure of the financial assets and liabilities of the group as at 29 April 2024 is shown below. The table includes trade debtors, trade creditors and the director's current account balance which do not attract interest and are therefore subject to fair value interest rate risk.

Fixed Floating Zero Total
Financial assets £    £    £    £   
Cash - 131 - 131
Trade and other debtors - - 3,086 3,086
Director's current account - - 202 202

Financial liabilities
Invoice discounting account - 448 - 448
Trade and other creditors - - 3,399 3,399
Accruals - - 246 246
Bank loan - 783 - 783
Finance leases 450 - - 450

Credit risk
The group's principal financial assets are cash deposits and trade debtors. The credit risk associated with cash is linked to the impact of potential non-recoverability of trade debtors. The director manages this risk through a detailed customer approval and acceptance process.

GOING CONCERN
As at 29 April 2024, the group had cash of £131k and access to an invoice discounting facility. It also had a strong forward order book.

The uncertainty as to the future impact on the group of external factors has been considered as part of the group's adoption of the going concern basis. The director has completed an assessment as to the potential impact to the group in the event of certain downside scenarios, including a significant deterioration in revenues and productivity.

The director is confident that the group has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the director continues to adopt the going concern basis in preparing the financial statements.

DISCLOSURE IN THE STRATEGIC REPORT
The group has chosen in accordance with the Companies Act 2006, s414C(11) to set out in the group's strategic report information required by The Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch 7 to be contained in the director's report. It has done so in respect of future developments and financial instruments and risk management.

R TINDALL (FABRICATORS) HOLDINGS LTD (REGISTERED NUMBER: 07966652)

Report of the Director
For The Year Ended 29 April 2024


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
The auditors, Leavitt Walmsley Associates Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





J B Yearn - Director


23 January 2025

R TINDALL (FABRICATORS) HOLDINGS LTD (REGISTERED NUMBER: 07966652)

Statement of Director's Responsibilities
For The Year Ended 29 April 2024

The director is responsible for preparing the Group Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the director is required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Report of the Independent Auditors to the Members of
R Tindall (Fabricators) Holdings Ltd

Opinion
We have audited the financial statements of R Tindall (Fabricators) Holdings Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 29 April 2024 which comprise the Consolidated Profit and Loss Account, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 29 April 2024 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Group Strategic Report, the Report of the Director and the Statement of Director's Responsibilities, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
R Tindall (Fabricators) Holdings Ltd


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page six, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the group or the parent company or to cease operations, or has no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
R Tindall (Fabricators) Holdings Ltd


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We gained an understanding of the legal and regulatory framework applicable to the group and the industry in which it operates, and considered the risk of acts by the group which were contrary to applicable laws and regulations, including fraud. We designed our audit procedures to respond to the assessed risks, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve more sophisticated and deliberate concealment, such as through forgery or intentional misrepresentations or via collusion. We recognised the risks arising from fraud could arise from two sources:

- manipulation of weaknesses in the system of internal control; and
- management override of the system of internal control.

We focussed on laws and regulations which could give rise to a material misstatement in the consolidated financial statements, including (but not limited to), the Companies Act 2006, Health and Safety and UK tax law. Our tests included agreeing the consolidated financial statement disclosures to underlying supporting documentation, enquiries with management and reviews of correspondence. We paid particular attention to legal correspondence which may indicate a breach of laws and regulations. We also considered the audit work carried out on consolidated subsidiaries to identify any breach of laws and regulations.

We performed audit procedures to detect non-compliance which may have a material impact on the consolidated financial statements which included reviewing consolidated financial statement disclosures and inspecting correspondence with tax authorities.

The most significant laws and regulations are those in relation to Health and Safety. We performed audit procedures to inquire of management and those charged with governance as to whether the group is compliant with these laws and regulations and reviewing any notices published by the Health and Safety Executive. We also made inquiries with those charged with governance to identify any live and material claims or disputes with sub-contractors or customers within consolidated subsidiaries.

The audit engagement team identified the risk of management override of internal controls where the consolidated financial statements were most susceptible to material misstatement due to fraud. Audit procedures performed included (but were not limited to) testing manual journal entries and other adjustments and evaluating the business rationale in relation to significant, unusual transactions and transactions entered into outside the ordinary course of business, and assessing whether the judgements made in making accounting estimates indicate management bias.

There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the consolidated financial statements, the less likely we would become aware of it.

During the course of our audit, we did not identify any key audit matters relating to irregularities, including fraud.

As in all our audits, we addressed the risk of management override of internal controls (as noted above), including testing journals and evaluating whether there was evidence of bias by the director which represented a risk of material misstatement due to fraud.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
R Tindall (Fabricators) Holdings Ltd


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Steven John Collings FCCA (Senior Statutory Auditor)
for and on behalf of Leavitt Walmsley Associates Limited
Chartered Certified Accountants and
Statutory Auditors
8 Eastway
Sale
Cheshire
M33 4DX

23 January 2025

R TINDALL (FABRICATORS) HOLDINGS LTD (REGISTERED NUMBER: 07966652)

Consolidated
Profit and Loss Account
For The Year Ended 29 April 2024

29.4.24 29.4.23
Notes £    £   

TURNOVER 3 12,828,999 13,925,080

Cost of sales 10,127,141 11,321,475
GROSS PROFIT 2,701,858 2,603,605

Administrative expenses 1,921,158 2,104,599
780,700 499,006

Other operating income - 81,574
OPERATING PROFIT 5 780,700 580,580


Interest payable and similar expenses 6 75,927 74,845
PROFIT BEFORE TAXATION 704,773 505,735

Tax on profit 7 209,515 156,945
PROFIT FOR THE FINANCIAL YEAR 495,258 348,790
Profit attributable to:
Owners of the parent 495,258 318,408
Non-controlling interests - 30,382
495,258 348,790

R TINDALL (FABRICATORS) HOLDINGS LTD (REGISTERED NUMBER: 07966652)

Consolidated
Other Comprehensive Income
For The Year Ended 29 April 2024

29.4.24 29.4.23
Notes £    £   

PROFIT FOR THE YEAR 495,258 348,790


OTHER COMPREHENSIVE INCOME
Change in ownership (74,796 ) -
Income tax relating to other comprehensive
income

-

-
OTHER COMPREHENSIVE INCOME FOR
THE YEAR, NET OF INCOME TAX

(74,796

)

-
TOTAL COMPREHENSIVE INCOME FOR THE
YEAR

420,462

348,790

Total comprehensive income attributable to:
Owners of the parent 697,416 318,408
Non-controlling interests (276,954 ) 30,382
420,462 348,790

R TINDALL (FABRICATORS) HOLDINGS LTD (REGISTERED NUMBER: 07966652)

Consolidated Balance Sheet
29 April 2024

29.4.24 29.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 10 1,693,314 1,575,538
Investments 11 238 238
Investment property 12 1,035,493 1,056,626
2,729,045 2,632,402

CURRENT ASSETS
Stocks 13 1,718,560 1,090,383
Debtors 14 3,507,503 3,279,626
Cash at bank 131,285 150,385
5,357,348 4,520,394
CREDITORS
Amounts falling due within one year 15 4,743,952 3,695,429
NET CURRENT ASSETS 613,396 824,965
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,342,441

3,457,367

CREDITORS
Amounts falling due after more than one year 16 (859,147 ) (1,033,216 )

PROVISIONS FOR LIABILITIES 20 (286,975 ) (251,340 )
NET ASSETS 2,196,319 2,172,811

CAPITAL AND RESERVES
Called up share capital 21 18 18
Capital redemption reserve 22 232 232
Other reserves 22 987 1,000
Retained earnings 22 2,195,082 1,894,607
SHAREHOLDERS' FUNDS 2,196,319 1,895,857

NON-CONTROLLING INTERESTS - 276,954
TOTAL EQUITY 2,196,319 2,172,811

The financial statements were approved by the director and authorised for issue on 23 January 2025 and were signed by:





J B Yearn - Director


R TINDALL (FABRICATORS) HOLDINGS LTD (REGISTERED NUMBER: 07966652)

Company Balance Sheet
29 April 2024

29.4.24 29.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 10 98,181 111,809
Investments 11 351,988 238
Investment property 12 1,035,493 1,056,626
1,485,662 1,168,673

CURRENT ASSETS
Debtors 14 270,281 146,557
Cash at bank 40,496 101,747
310,777 248,304
CREDITORS
Amounts falling due within one year 15 345,998 102,427
NET CURRENT (LIABILITIES)/ASSETS (35,221 ) 145,877
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,450,441

1,314,550

CREDITORS
Amounts falling due after more than one year 16 (631,331 ) (658,398 )

PROVISIONS FOR LIABILITIES 20 (11,729 ) (11,634 )
NET ASSETS 807,381 644,518

CAPITAL AND RESERVES
Called up share capital 21 18 18
Capital redemption reserve 22 232 232
Retained earnings 22 807,131 644,268
SHAREHOLDERS' FUNDS 807,381 644,518

Company's profit for the financial year 282,863 174,969

The financial statements were approved by the director and authorised for issue on 23 January 2025 and were signed by:





J B Yearn - Director


R TINDALL (FABRICATORS) HOLDINGS LTD (REGISTERED NUMBER: 07966652)

Consolidated Statement of Changes in Equity
For The Year Ended 29 April 2024

Called up Capital
share Retained redemption
capital earnings reserve
£    £    £   
Balance at 30 April 2022 18 1,769,119 232

Changes in equity
Dividends - (192,920 ) -
Total comprehensive income - 318,408 -
Balance at 29 April 2023 18 1,894,607 232

Changes in equity
Dividends - (120,000 ) -
Total comprehensive income - 420,475 -
Balance at 29 April 2024 18 2,195,082 232
Other Non-controlling Total
reserves Total interests equity
£    £    £    £   
Balance at 30 April 2022 1,000 1,770,369 246,572 2,016,941

Changes in equity
Dividends - (192,920 ) - (192,920 )
Total comprehensive income - 318,408 30,382 348,790
Balance at 29 April 2023 1,000 1,895,857 276,954 2,172,811

Changes in equity
Dividends - (120,000 ) - (120,000 )
Total comprehensive income (13 ) 420,462 (276,954 ) 143,508
Balance at 29 April 2024 987 2,196,319 - 2,196,319

R TINDALL (FABRICATORS) HOLDINGS LTD (REGISTERED NUMBER: 07966652)

Company Statement of Changes in Equity
For The Year Ended 29 April 2024

Called up Capital
share Retained redemption Total
capital earnings reserve equity
£    £    £    £   
Balance at 30 April 2022 18 589,299 232 589,549

Changes in equity
Dividends - (120,000 ) - (120,000 )
Total comprehensive income - 174,969 - 174,969
Balance at 29 April 2023 18 644,268 232 644,518

Changes in equity
Dividends - (120,000 ) - (120,000 )
Total comprehensive income - 282,863 - 282,863
Balance at 29 April 2024 18 807,131 232 807,381

R TINDALL (FABRICATORS) HOLDINGS LTD (REGISTERED NUMBER: 07966652)

Consolidated Cash Flow Statement
For The Year Ended 29 April 2024

29.4.24 29.4.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,334,686 233,192
Interest paid (59,780 ) (54,707 )
Interest element of hire purchase payments
paid

(16,147

)

(20,138

)
Tax paid (13,452 ) -
Net cash from operating activities 1,245,307 158,347

Cash flows from investing activities
Purchase of tangible fixed assets (336,475 ) (260,655 )
Purchase of investment property - (1,056,626 )
Sale of tangible fixed assets 42,888 32,829
Acquisition of non-controlling interest (351,751 ) -
Net cash from investing activities (645,338 ) (1,284,452 )

Cash flows from financing activities
New loans in year - 991,204
Loan repayments in year (80,372 ) (311,335 )
Capital repayments in year (152,965 ) (76,231 )
Amount introduced by directors 122,009 120,000
Amount withdrawn by directors (214,362 ) (230,019 )
Equity dividends paid (120,000 ) (192,920 )
Net cash from financing activities (445,690 ) 300,699

Increase/(decrease) in cash and cash equivalents 154,279 (825,406 )
Cash and cash equivalents at beginning of
year

2

(471,357

)

354,049

Cash and cash equivalents at end of year 2 (317,078 ) (471,357 )

R TINDALL (FABRICATORS) HOLDINGS LTD (REGISTERED NUMBER: 07966652)

Notes to the Consolidated Cash Flow Statement
For The Year Ended 29 April 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
29.4.24 29.4.23
£    £   
Profit before taxation 704,773 505,735
Depreciation charges 267,343 230,197
Loss/(profit) on disposal of fixed assets 13,631 (2,975 )
Loan arrangement fee reallocated (5,750 ) -
Finance costs 75,927 74,845
1,055,924 807,802
Increase in stocks (628,177 ) (636,828 )
(Increase)/decrease in trade and other debtors (105,777 ) 361,090
Increase/(decrease) in trade and other creditors 1,012,716 (298,872 )
Cash generated from operations 1,334,686 233,192

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 29 April 2024
29.4.24 30.4.23
£    £   
Cash and cash equivalents 131,285 150,385
Bank overdrafts (448,363 ) (621,742 )
(317,078 ) (471,357 )
Year ended 29 April 2023
29.4.23 30.4.22
£    £   
Cash and cash equivalents 150,385 584,989
Bank overdrafts (621,742 ) (230,940 )
(471,357 ) 354,049


R TINDALL (FABRICATORS) HOLDINGS LTD (REGISTERED NUMBER: 07966652)

Notes to the Consolidated Cash Flow Statement
For The Year Ended 29 April 2024

3. ANALYSIS OF CHANGES IN NET DEBT

Other
non-cash
At 30.4.23 Cash flow changes At 29.4.24
£    £    £    £   
Net cash
Cash at bank
and in hand 150,385 (19,100 ) 131,285
Bank overdrafts (621,742 ) 173,379 (448,363 )
(471,357 ) 154,279 (317,078 )
Debt
Finance leases (373,168 ) 152,965 - (304,232 )
Debts falling due
within 1 year (85,371 ) (945 ) - (86,316 )
Debts falling due
after 1 year (783,398 ) 87,067 - (696,331 )
(1,241,937 ) 239,087 - (1,086,879 )
Total (1,713,294 ) 393,366 - (1,403,957 )

4. MAJOR NON-CASH TRANSACTIONS

The company has acquired tangible assets under finance leases. £84,029 (2023: £291,204) has been capitalised as the cost of the asset, being the fair value of the cost of the assets.

R TINDALL (FABRICATORS) HOLDINGS LTD (REGISTERED NUMBER: 07966652)

Notes to the Consolidated Financial Statements
For The Year Ended 29 April 2024

1. STATUTORY INFORMATION

R Tindall (Fabricators) Holdings Ltd 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 General 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 the provisions of FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

These consolidated financial statements consolidate the results of R Tindall (Fabricators) Holdings Limited and its subsidiary undertaking drawn up to 29 April 2024.

The individual accounts of R Tindall (Fabricators) Holdings Ltd have adopted the following disclosure exemptions:

- the requirement to prepare a statement of cash flows and related notes; and
- the requirement to disclose related party transactions with wholly owned subsidiaries.

The following principal accounting policies have been applied:

Going concern
As at 29 April 2024, the group had free cash reserves amounting to £131k and also had a strong order book.

The uncertainty as to the future impact on the group of external factors has been considered as part of the group's adoption of the going concern basis of accounting. The director has completed an assessment as to the potential impact to the group in the event of certain downside scenarios, including a significant deterioration in revenues and productivity.

At the time of approving these consolidated financial statements, the director has a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus, the director continues to adopt the going concern basis of accounting in preparing these consolidated financial statements for the following reasons:

- the group currently meets its day-to-day working capital requirements through its cash balances;
- cash balances are monitored on a daily basis and are deemed to be more than adequate;
- the group's borrowing facilities have been renewed; and
- the director considers the group has sufficient resources to continue in operational existence for the foreseeable future.

Basis of consolidation
The consolidated financial statements consist of the financial statements of the parent company, R Tindall (Fabricators) Holdings Ltd, together with all entities controlled by the parent company (its subsidiaries) that are material.

Group reconstructions
Group reconstructions are accounted for using the merger method of accounting. Under the merger method of accounting, the carrying amount of assets and liabilities of the parties to the combination are brought into the consolidated financial statements at book value (with appropriate adjustments, where necessary, to achieve uniformity of accounting policies). The results and cash flows of all the combining entities are brought into the financial statements of the group from the beginning of the financial year in which the combination occurred.

All financial statements are made up to 29 April each year. All intra-group balances and transactions as well as unrealised gains and losses between group members are eliminated on consolidation.

Business combinations
For business combinations which do not meet the criteria to apply merger accounting, the purchase method of accounting is used.

R TINDALL (FABRICATORS) HOLDINGS LTD (REGISTERED NUMBER: 07966652)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 29 April 2024

2. ACCOUNTING POLICIES - continued

Significant judgements and estimates
The preparation of the consolidated financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the year end date and amounts reported for revenue and expenses during the year. However, the nature of the estimation is such that actual outcomes could differ from those estimates. The following judgements have the most effect on amounts recognised in the consolidated financial statements:

Work in progress
The group has work in progress in existence at the reporting date. The nature of this work in progress introduces judgement and uncertainty into its valuation.

Trade debtors
The likelihood of collection of trade debtors also requires judgement to be applied. The group makes an assessment at the reporting date as to whether a provision for specific bad debts is necessary through a detailed review of individual customer balances.

Turnover
Group turnover is recognised to the extent that it is probable that the economic benefits will flow to the group and the amount of revenue can be reliably measured. Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, VAT and other sales taxes.

Turnover in respect of the sale of goods is recognised on dispatch of the goods, which the group considers to be the point at which the group transfers the significant risks and rewards of ownership of the goods to the customer. The group retains legal title of the goods until the customer pays, but this does not constitute a retention of the significant risks and rewards of ownership.

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 - 25% on cost
Plant and machinery - 25% on reducing balance and Straight line over 20 years
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on cost and 25% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs which are directly attributable in bringing the asset to its location and condition so that it is capable of operating in the manner intended by management.

Residual values used in the calculation of depreciable amount are the expected amounts which would currently be obtained from disposal of assets, after deducting the estimated costs of disposal, if the assets were already of the age and in the condition expected at the end of their useful lives.

Profits and losses on the disposal of fixed assets are included in the calculation of profit for the period.

The director assesses the group's tangible assets for evidence of impairment at each reporting date. Where there are indicators of impairment, the director calculates recoverable amount of the asset(s) and compares this with the carrying amount. If recoverable amount is lower than carrying amount, the asset is written down to recoverable amount by way of an impairment loss which is recognised in profit or loss for the period. Impairment losses are reversed when there is evidence that the reasons giving rise to the original impairment have ceased to apply. Impairment losses are reversed through profit and loss but only to the extent that the reversal does not increase the carrying amount of the asset to the amount which would have been stated, net of depreciation, had no impairment loss been recognised.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

After initial recognition, investments in subsidiary undertakings are measured at cost less impairment.

R TINDALL (FABRICATORS) HOLDINGS LTD (REGISTERED NUMBER: 07966652)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 29 April 2024

2. ACCOUNTING POLICIES - continued

Investment property
Investment property is a property owned by the group which is rented out to the subsidiary. The group applies the accounting policy choice in FRS 102, para 16.4A(b) to apply the cost model in FRS 102, Section 17 'Property, Plant and Equipment' and measure the investment property at cost less accumulated depreciation less any accumulated impairment losses.

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, freight, irrecoverable taxes and costs of conversion and other directly attributable costs which are incurred by the entity in bringing the stock to its present location and condition. The cost methodology employed by the entity is the first-in first-out method.

R TINDALL (FABRICATORS) HOLDINGS LTD (REGISTERED NUMBER: 07966652)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 29 April 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The group has elected to apply (where applicable) the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the group becomes party to the contractual provisions of the instrument.

Financial assets are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other debtors, amounts owed by the director and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently measured at amortised cost using the effective interest rate, unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Impairment of financial assets
Financial assets, other than those held at fair value through profit or loss, are assessed for indicators of impairment at each balance sheet date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to a third party that is able to sell the asset in its entirety to an unrelated party.

Classification of financial liabilities
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 group after deducting all its liabilities.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, bank loans, finance leases and accruals are initially recognised at transaction price unless the arrangement constitutes a financing arrangement, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities
Financial liabilities are derecognised when, and only when, the group's contractual obligations are discharged, cancelled or they expire.

Equity instruments
Equity instruments issued by the group are recorded at the fair value of the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.


R TINDALL (FABRICATORS) HOLDINGS LTD (REGISTERED NUMBER: 07966652)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 29 April 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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. Deferred tax is calculated using timing difference plus approach.

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 the profit and loss account using the effective interest method under Section 11 of FRS 102 ‘Basic Financial Instruments’. The capital element of the liability is presented in the balance sheet as a liability and split between the portion falling due within one year and the portion falling due after more than one year.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year with an associated expense in profit or loss.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

An analysis of turnover by class of business is given below:

29.4.24 29.4.23
£    £   
Fabrication 12,828,999 13,889,124
Other - 35,956
12,828,999 13,925,080

4. EMPLOYEES AND DIRECTORS
29.4.24 29.4.23
£    £   
Wages and salaries 2,197,295 2,475,602
Social security costs 203,108 219,979
Other pension costs 61,672 64,270
2,462,075 2,759,851

R TINDALL (FABRICATORS) HOLDINGS LTD (REGISTERED NUMBER: 07966652)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 29 April 2024

4. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
29.4.24 29.4.23

Management 2 2
Production 41 53
Administration 17 18
60 73

29.4.24 29.4.23
£    £   
Director's remuneration 113,326 97,323
Director's pension contributions to money purchase schemes 1,170 2,154

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 1 1

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

29.4.24 29.4.23
£    £   
Hire of plant and machinery 59,525 130,644
Depreciation - owned assets 197,894 161,176
Depreciation - assets on hire purchase contracts 69,448 69,020
Loss/(profit) on disposal of fixed assets 13,631 (2,975 )
Auditor's remuneration 17,970 17,000
Consultancy fees 18,937 119,889

6. INTEREST PAYABLE AND SIMILAR EXPENSES
29.4.24 29.4.23
£    £   
Bank interest - 2
Bank loan interest 59,780 54,705
Hire purchase 16,147 20,138
75,927 74,845

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
29.4.24 29.4.23
£    £   
Current tax:
UK corporation tax 173,880 8,472

Deferred tax 35,635 148,473
Tax on profit 209,515 156,945

R TINDALL (FABRICATORS) HOLDINGS LTD (REGISTERED NUMBER: 07966652)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 29 April 2024

7. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

29.4.24 29.4.23
£    £   
Profit before tax 704,773 505,735
Profit multiplied by the standard rate of corporation tax in the UK of 25 %
(2023 - 19 %)

176,193

96,090

Effects of:
Expenses not deductible for tax purposes 19,636 9,575
Income not taxable for tax purposes - (565 )
Capital allowances in excess of depreciation (6,713 ) (4,177 )
Utilisation of tax losses (15,854 ) (90,842 )
Adjustments to tax charge in respect of previous periods 1,776 (1,777 )
Deferred tax movement 35,635 148,472
Effect of change in tax rate - 254
Marginal rate relief (1,158 ) (85 )
Total tax charge 209,515 156,945

Tax effects relating to effects of other comprehensive income

29.4.24
Gross Tax Net
£    £    £   
Change in ownership (74,796 ) - (74,796 )

8. INDIVIDUAL PROFIT AND LOSS ACCOUNT

As permitted by Section 408 of the Companies Act 2006, the Profit and Loss Account of the parent company is not presented as part of these financial statements.


9. DIVIDENDS
29.4.24 29.4.23
£    £   
Ordinary B shares of £1 each
Interim 120,000 192,920

R TINDALL (FABRICATORS) HOLDINGS LTD (REGISTERED NUMBER: 07966652)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 29 April 2024

10. TANGIBLE FIXED ASSETS

Group
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 30 April 2023 485,882 1,645,605 86,423 109,040 2,326,950
Additions 65,803 188,132 14,540 152,029 420,504
Disposals - (15,342 ) - (71,222 ) (86,564 )
At 29 April 2024 551,685 1,818,395 100,963 189,847 2,660,890
DEPRECIATION
At 30 April 2023 115,046 563,294 33,829 39,243 751,412
Charge for year 48,675 161,424 13,315 22,795 246,209
Eliminated on disposal - (9,966 ) - (20,079 ) (30,045 )
At 29 April 2024 163,721 714,752 47,144 41,959 967,576
NET BOOK VALUE
At 29 April 2024 387,964 1,103,643 53,819 147,888 1,693,314
At 29 April 2023 370,836 1,082,311 52,594 69,797 1,575,538

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 30 April 2023 482,621 88,107 570,728
Additions - 112,029 112,029
Disposals - (50,289 ) (50,289 )
At 29 April 2024 482,621 149,847 632,468
DEPRECIATION
At 30 April 2023 65,255 22,035 87,290
Charge for year 48,262 21,186 69,448
Eliminated on disposal - (2,095 ) (2,095 )
At 29 April 2024 113,517 41,126 154,643
NET BOOK VALUE
At 29 April 2024 369,104 108,721 477,825
At 29 April 2023 417,366 66,072 483,438

R TINDALL (FABRICATORS) HOLDINGS LTD (REGISTERED NUMBER: 07966652)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 29 April 2024

10. TANGIBLE FIXED ASSETS - continued

Company
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 30 April 2023 180,377 - 180,377
Additions - 50,289 50,289
Disposals (15,342 ) (50,289 ) (65,631 )
At 29 April 2024 165,035 - 165,035
DEPRECIATION
At 30 April 2023 68,568 - 68,568
Charge for year 8,252 2,095 10,347
Eliminated on disposal (9,966 ) (2,095 ) (12,061 )
At 29 April 2024 66,854 - 66,854
NET BOOK VALUE
At 29 April 2024 98,181 - 98,181
At 29 April 2023 111,809 - 111,809

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Motor
vehicles
£   
COST
Additions 50,289
Disposals (50,289 )
At 29 April 2024 -
DEPRECIATION
Charge for year 2,095
Eliminated on disposal (2,095 )
At 29 April 2024 -
NET BOOK VALUE
At 29 April 2024 -

11. FIXED ASSET INVESTMENTS

Group
Shares in
group
undertakings
£   
COST
At 30 April 2023
and 29 April 2024 238
NET BOOK VALUE
At 29 April 2024 238
At 29 April 2023 238

R TINDALL (FABRICATORS) HOLDINGS LTD (REGISTERED NUMBER: 07966652)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 29 April 2024

11. FIXED ASSET INVESTMENTS - continued

Company
Shares in
group
undertakings
£   
COST
At 30 April 2023 238
Additions 351,750
At 29 April 2024 351,988
NET BOOK VALUE
At 29 April 2024 351,988
At 29 April 2023 238

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

R Tindall (Fabricators) Ltd
Registered office: West Point Industrial Estate, Hargreaves St, Oldham OL9 9ND
Nature of business: Fabrication engineers
%
Class of shares: holding
Ordinary 90.00
29.4.24 29.4.23
£    £   
Aggregate capital and reserves 1,740,689 1,528,295
Profit for the year 504,394 303,822

Bentley Tube Ltd
Registered office: 8 Eastway, Sale, Cheshire M33 4DX
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00


R TINDALL (FABRICATORS) HOLDINGS LTD (REGISTERED NUMBER: 07966652)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 29 April 2024

12. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 30 April 2023
and 29 April 2024 1,056,626
DEPRECIATION
Charge for year 21,133
At 29 April 2024 21,133
NET BOOK VALUE
At 29 April 2024 1,035,493
At 29 April 2023 1,056,626

Company
Total
£   
COST
At 30 April 2023
and 29 April 2024 1,056,626
DEPRECIATION
Charge for year 21,133
At 29 April 2024 21,133
NET BOOK VALUE
At 29 April 2024 1,035,493
At 29 April 2023 1,056,626

13. STOCKS

Group
29.4.24 29.4.23
£    £   
Stocks 1,116,255 344,446
Work-in-progress 602,305 745,937
1,718,560 1,090,383

R TINDALL (FABRICATORS) HOLDINGS LTD (REGISTERED NUMBER: 07966652)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 29 April 2024

14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
29.4.24 29.4.23 29.4.24 29.4.23
£    £    £    £   
Trade debtors 3,074,326 2,989,258 - -
Amounts owed by group undertakings - - 245 -
Other debtors 12,000 12,043 - 43
Directors' current accounts 201,896 109,543 201,896 109,543
Tax 72,396 42,649 68,140 36,971
Prepayments 146,885 126,133 - -
3,507,503 3,279,626 270,281 146,557

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
29.4.24 29.4.23 29.4.24 29.4.23
£    £    £    £   
Bank loans and overdrafts (see note 17) 534,679 707,113 26,316 25,371
Hire purchase contracts (see note 18) 141,416 123,350 - -
Trade creditors 2,955,220 2,401,841 6,000 -
Amounts owed to group undertakings - - - 991
Tax 235,616 45,441 74,299 45,443
Social security and other taxes 57,490 73,976 - -
VAT 112,093 186,363 - -
Other creditors 443,398 79,349 210,000 2,009
Accruals and deferred income 264,040 77,996 29,383 28,613
4,743,952 3,695,429 345,998 102,427

16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group Company
29.4.24 29.4.23 29.4.24 29.4.23
£    £    £    £   
Bank loans (see note 17) 696,331 783,398 631,331 658,398
Hire purchase contracts (see note 18) 162,816 249,818 - -
859,147 1,033,216 631,331 658,398

R TINDALL (FABRICATORS) HOLDINGS LTD (REGISTERED NUMBER: 07966652)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 29 April 2024

17. LOANS

An analysis of the maturity of loans is given below:

Group Company
29.4.24 29.4.23 29.4.24 29.4.23
£    £    £    £   
Amounts falling due within one year or on demand:
Bank overdrafts 448,363 621,742 - -
Bank loans 86,316 85,371 26,316 25,371
534,679 707,113 26,316 25,371
Amounts falling due between one and two years:
Bank loans - 1-2 years 60,000 60,000 - -
Amounts falling due between two and five years:
Bank loans - 2-5 years 636,331 675,000 631,331 610,000
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal - 48,398 - 48,398

18. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
29.4.24 29.4.23
£    £   
Net obligations repayable:
Within one year 141,416 123,350
Between one and five years 162,816 249,818
304,232 373,168

Group
Non-cancellable operating leases
29.4.24 29.4.23
£    £   
Within one year 132,864 110,000
Between one and five years 281,015 330,000
413,879 440,000

R TINDALL (FABRICATORS) HOLDINGS LTD (REGISTERED NUMBER: 07966652)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 29 April 2024

19. SECURED DEBTS

The following secured debts are included within creditors:

Group Company
29.4.24 29.4.23 29.4.24 29.4.23
£    £    £    £   
Bank loans - - 657,647 683,769
Hire purchase contracts 304,232 373,168 - -
304,232 373,168 657,647 683,769

Assets obtained under hire purchase contracts and finance leases are secured over the assets to which they relate.

The loan is a secured by way of a fixed and floating charge over all the property of the parent company. The charges dated 10 November 2017 and 8 December 2017 are in favour of National Westminster Bank PLC.

There is a legal charge in favour of National Westminster Bank PLC dated 10 August 2022 over the investment properties at Units 1 and 2, West Point Engineering Works.

20. PROVISIONS FOR LIABILITIES

Group Company
29.4.24 29.4.23 29.4.24 29.4.23
£    £    £    £   
Deferred tax
Tax losses carried forward - (15,854 ) - -
Deferred tax 286,975 267,194 11,729 11,634
286,975 251,340 11,729 11,634

Group
Deferred
tax
£   
Balance at 30 April 2023 251,340
Provided during year 19,781
Utilisation of tax losses 15,854
Balance at 29 April 2024 286,975

Company
Deferred
tax
£   
Balance at 30 April 2023 11,634
Provided during year 95
Accelerated capital allowances
Balance at 29 April 2024 11,729

R TINDALL (FABRICATORS) HOLDINGS LTD (REGISTERED NUMBER: 07966652)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 29 April 2024

21. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.4.24 29.4.23
value: £    £   
200 Ordinary A £1 - -
50 Ordinary B £1 18 18
18 18

Each Ordinary share has a right to vote in any circumstance and carries a right to dividends.

22. RESERVES

Group
Capital
Retained redemption Other
earnings reserve reserves Totals
£    £    £    £   

At 30 April 2023 1,894,607 232 1,000 1,895,839
Profit for the year 495,258 495,258
Dividends (120,000 ) (120,000 )
Purchase of own shares - - (13 ) (13 )
Change in ownership (74,783 ) - - (74,783 )
At 29 April 2024 2,195,082 232 987 2,196,301

Company
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 30 April 2023 644,268 232 644,500
Profit for the year 282,863 282,863
Dividends (120,000 ) (120,000 )
At 29 April 2024 807,131 232 807,363

Other reserves represent the effect of applying the merger accounting method in respect of a group reconstruction effected in 2016.

The change in ownership of £74,783 represents the difference between the consideration paid to acquire the non-controlling interest in the subsidiary undertaking and the value of the non-controlling interest at the acquisition date. As control of the subsidiary had previously been gained prior to the acquisition of the non-controlling interest, the transaction has been accounted for as an one between equity holders in their capacity as equity holders in these consolidated financial statements in accordance with FRS 102, paragraph 22.19.

23. CALLED UP SHARE CAPITAL

There is a single class of ordinary shares. There are no restrictions on the distribution of dividends and the repayment of capital.