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REGISTERED NUMBER: 04465639 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 April 2024

for

A.S.G. Fabrications Limited

A.S.G. Fabrications Limited (Registered number: 04465639)






Contents of the Financial Statements
for the year ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Accountants' Report 8

A.S.G. Fabrications Limited

Company Information
for the year ended 30 April 2024







DIRECTORS: A Johnson
S J Hoult
J S Kirk
Mrs C Johnson





SECRETARY: A Johnson





REGISTERED OFFICE: Unit 1a
Greenhill Mills
Grange Road
Batley
West Yorkshire
WF17 6LH





REGISTERED NUMBER: 04465639 (England and Wales)





ACCOUNTANTS: Beaumonts
8 Navigation Court
Calder Park
Wakefield
West Yorkshire
WF2 7BJ

A.S.G. Fabrications Limited (Registered number: 04465639)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 7,162
Tangible assets 5 172,611 119,175
Investments 6 1,000 1,000
173,611 127,337

CURRENT ASSETS
Stocks 155,777 163,566
Debtors 7 1,036,367 886,014
Cash at bank and in hand 405,900 178,696
1,598,044 1,228,276
CREDITORS
Amounts falling due within one year 8 1,285,889 1,009,254
NET CURRENT ASSETS 312,155 219,022
TOTAL ASSETS LESS CURRENT
LIABILITIES

485,766

346,359

CREDITORS
Amounts falling due after more than one
year

9

(39,463

)

-

PROVISIONS FOR LIABILITIES (27,798 ) (27,193 )
NET ASSETS 418,505 319,166

CAPITAL AND RESERVES
Called up share capital 3,000 3,000
Revaluation reserve 10 38,383 42,205
Capital redemption reserve 10 1,000 1,000
Retained earnings 10 376,122 272,961
418,505 319,166

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

A.S.G. Fabrications Limited (Registered number: 04465639)

Balance Sheet - continued
30 April 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 January 2025 and were signed on its behalf by:





A Johnson - Director


A.S.G. Fabrications Limited (Registered number: 04465639)

Notes to the Financial Statements
for the year ended 30 April 2024

1. STATUTORY INFORMATION

A.S.G. 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.

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 as modified by the revaluation of certain assets.

Preparation of consolidated financial statements
The financial statements contain information about A.S.G. Fabrications Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable relating to the period, excluding discounts, rebates and value added tax for the provision of mild and stainless steel products and design, manufacture and installation of steel fabrications.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on reducing balance
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets are held at open market value at the balance sheet date. Any increase or decrease in revaluation is transferred to the revaluation reserve and a deferred tax provision is recognised in respect of the increase.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at 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 and finished goods include labour and attributable overheads.

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.


A.S.G. Fabrications Limited (Registered number: 04465639)

Notes to the Financial Statements - continued
for the year ended 30 April 2024

2. ACCOUNTING POLICIES - continued
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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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 the profit and loss account as incurred.

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.

Government grants
Government grants of a revenue nature which do not have performance conditions attached are recognised as income in full in the period in which entitlement has been satisfied.

Long term contracts
Long term contracts are those which are material to the activity of the period. Attributable profit is recognised once the outcome of a long term contract can be assessed with reasonable certainty. Immediate provision is made for all foreseeable losses if a contract is assessed as unprofitable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2023 - 27 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 May 2023 7,162
Reclassification/transfer (7,162 )
At 30 April 2024 -
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 7,162

A.S.G. Fabrications Limited (Registered number: 04465639)

Notes to the Financial Statements - continued
for the year ended 30 April 2024

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 May 2023 4,998 123,823 40,042 - 168,863
Additions - 11,016 3,245 56,000 70,261
At 30 April 2024 4,998 134,839 43,287 56,000 239,124
DEPRECIATION
At 1 May 2023 1,705 38,011 9,972 - 49,688
Charge for year 315 8,890 2,953 4,667 16,825
At 30 April 2024 2,020 46,901 12,925 4,667 66,513
NET BOOK VALUE
At 30 April 2024 2,978 87,938 30,362 51,333 172,611
At 30 April 2023 3,293 85,812 30,070 - 119,175

The directors consider the carrying value of the company's tangible fixed assets at 30 April 2024 to be representative of their market value, based upon a previous professional review carried out on an open market basis. The assets have been depreciated in line with the company's accounting policy since this date.

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 May 2023
and 30 April 2024 1,000
NET BOOK VALUE
At 30 April 2024 1,000
At 30 April 2023 1,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 915,602 803,106
Other debtors 120,765 82,908
1,036,367 886,014

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts - 27,803
Finance leases 8,968 -
Trade creditors 360,529 561,472
Taxation and social security 68,838 152,105
Other creditors 847,554 267,874
1,285,889 1,009,254

A.S.G. Fabrications Limited (Registered number: 04465639)

Notes to the Financial Statements - continued
for the year ended 30 April 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.4.24 30.4.23
£    £   
Finance leases 39,463 -

10. RESERVES
Capital
Retained Revaluation redemption
earnings reserve reserve Totals
£    £    £    £   

At 1 May 2023 272,961 42,205 1,000 316,166
Profit for the year 359,339 359,339
Dividends (260,000 ) (260,000 )
Transfer 3,822 (3,822 ) - -
At 30 April 2024 376,122 38,383 1,000 415,505

11. OTHER FINANCIAL COMMITMENTS

The total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £2,533 (2023 - £15,270).

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

30.4.24 30.4.23
£    £   
A Johnson
Balance outstanding at start of year 1,024 1,024
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,024 1,024

Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
A.S.G. Fabrications Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of A.S.G. Fabrications Limited for the year ended 30 April 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of A.S.G. Fabrications Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of A.S.G. Fabrications Limited and state those matters that we have agreed to state to the Board of Directors of A.S.G. Fabrications Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than A.S.G. Fabrications Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that A.S.G. Fabrications Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of A.S.G. Fabrications Limited. You consider that A.S.G. Fabrications Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of A.S.G. Fabrications Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Beaumonts
8 Navigation Court
Calder Park
Wakefield
West Yorkshire
WF2 7BJ


30 January 2025