AD Metal Fabrications (Livingston) Ltd SC363470 false 2023-08-01 2024-07-31 2024-07-31 The principal activity of the company is that of general blacksmiths including metal fabrication and design. Digita Accounts Production Advanced 6.30.9574.0 true true SC363470 2023-08-01 2024-07-31 SC363470 2024-07-31 SC363470 bus:OrdinaryShareClass1 2024-07-31 SC363470 core:CurrentFinancialInstruments 2024-07-31 SC363470 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 SC363470 core:Non-currentFinancialInstruments core:AfterOneYear 2024-07-31 SC363470 core:BetweenTwoFiveYears 2024-07-31 SC363470 core:WithinOneYear 2024-07-31 SC363470 core:MotorVehicles 2024-07-31 SC363470 core:OtherPropertyPlantEquipment 2024-07-31 SC363470 bus:SmallEntities 2023-08-01 2024-07-31 SC363470 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 SC363470 bus:FilletedAccounts 2023-08-01 2024-07-31 SC363470 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 SC363470 bus:RegisteredOffice 2023-08-01 2024-07-31 SC363470 bus:Director1 2023-08-01 2024-07-31 SC363470 bus:OrdinaryShareClass1 2023-08-01 2024-07-31 SC363470 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 SC363470 bus:Agent1 2023-08-01 2024-07-31 SC363470 core:MotorVehicles 2023-08-01 2024-07-31 SC363470 core:OtherPropertyPlantEquipment 2023-08-01 2024-07-31 SC363470 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-08-01 2024-07-31 SC363470 countries:Scotland 2023-08-01 2024-07-31 SC363470 2023-07-31 SC363470 core:MotorVehicles 2023-07-31 SC363470 core:OtherPropertyPlantEquipment 2023-07-31 SC363470 2022-08-01 2023-07-31 SC363470 2023-07-31 SC363470 bus:OrdinaryShareClass1 2023-07-31 SC363470 core:CurrentFinancialInstruments 2023-07-31 SC363470 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 SC363470 core:Non-currentFinancialInstruments core:AfterOneYear 2023-07-31 SC363470 core:BetweenTwoFiveYears 2023-07-31 SC363470 core:WithinOneYear 2023-07-31 SC363470 core:MotorVehicles 2023-07-31 SC363470 core:OtherPropertyPlantEquipment 2023-07-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: SC363470

AD Metal Fabrications (Livingston) Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

AD Metal Fabrications (Livingston) Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 10

 

AD Metal Fabrications (Livingston) Ltd

Company Information

Director

Mr A I Dunleavie

Registered office

 

Arygll House
Quarrywood Court
Livingston
West Lothian
EH54 6AX

Accountants

Glen Drummond Ltd
Chartered Accountants
Argyll House
Quarrywood Court
Livingston
West Lothian
EH54 6AX

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
AD Metal Fabrications (Livingston) Ltd
for the Year Ended 31 July 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of AD Metal Fabrications (Livingston) Ltd for the year ended 31 July 2024 as set out on pages 3 to 10 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 of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of AD Metal Fabrications (Livingston) Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of AD Metal Fabrications (Livingston) Ltd and state those matters that we have agreed to state to the Board of Directors of AD Metal Fabrications (Livingston) Ltd, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than AD Metal Fabrications (Livingston) Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that AD Metal Fabrications (Livingston) Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of AD Metal Fabrications (Livingston) Ltd. You consider that AD Metal Fabrications (Livingston) Ltd 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 accounts of AD Metal Fabrications (Livingston) Ltd. 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 accounts.

......................................

Glen Drummond Ltd
Chartered Accountants
Argyll House
Quarrywood Court
Livingston
West Lothian
EH54 6AX

7 February 2025

 

AD Metal Fabrications (Livingston) Ltd

(Registration number: SC363470)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

555

966

Current assets

 

Stocks

5

993

662

Debtors

6

88,481

46,931

Cash at bank and in hand

 

13,668

33,592

 

103,142

81,185

Creditors: Amounts falling due within one year

7

(86,500)

(69,525)

Net current assets

 

16,642

11,660

Total assets less current liabilities

 

17,197

12,626

Creditors: Amounts falling due after more than one year

7

(6,201)

(12,222)

Provisions for liabilities

(138)

(242)

Net assets

 

10,858

162

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

10,758

62

Shareholders' funds

 

10,858

162

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

AD Metal Fabrications (Livingston) Ltd

(Registration number: SC363470)
Balance Sheet as at 31 July 2024

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 7 February 2025
 

.........................................
Mr A I Dunleavie
Director

 

AD Metal Fabrications (Livingston) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Arygll House
Quarrywood Court
Livingston
West Lothian
EH54 6AX

These financial statements were authorised for issue by the director on 7 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. There were no material departures from that standard.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency of the financial statements is the Pound Sterling (£).

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration derived from that of general blacksmiths including metal fabrication and design. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

 

AD Metal Fabrications (Livingston) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

At the balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Expenditure of £500 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the profit and loss account in the period it is incurred.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance

Other property, plant and equipment

20% on cost

 

AD Metal Fabrications (Livingston) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

 

AD Metal Fabrications (Livingston) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year was 5 (2023 - 6).

4

Tangible assets

Motor vehicles
 £

Other property, plant and equipment
£

Total
£

Cost or valuation

At 1 August 2023

2,454

4,423

6,877

At 31 July 2024

2,454

4,423

6,877

Depreciation

At 1 August 2023

2,168

3,743

5,911

Charge for the year

71

340

411

At 31 July 2024

2,239

4,083

6,322

Carrying amount

At 31 July 2024

215

340

555

At 31 July 2023

286

680

966

5

Stocks

2024
£

2023
£

Stock

993

662

6

Debtors

2024
£

2023
£

Trade debtors

78,090

39,459

Prepayments

2,519

2,519

Other debtors

7,872

4,953

88,481

46,931

 

AD Metal Fabrications (Livingston) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

6,132

5,917

Trade creditors

 

41,760

33,256

Taxation and social security

 

29,079

25,098

Accruals and deferred income

 

1,379

1,506

Other creditors

 

8,150

3,748

 

86,500

69,525

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

6,201

12,222

The bank loan is supported by a 100% guarantee from the UK government.

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

9

Related party transactions

The company operates a loan account with the director, Mr A I Dunleavie.
During the year, the director advanced loans to the company of £6,480. At the year end, the balance due to the director was £8,112 (2023 - £1,632). This loan is unsecured, interest free and has no fixed repayment terms.

 

 

AD Metal Fabrications (Livingston) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

10

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

2,952

3,242

Later than one year and not later than five years

2,525

5,261

5,477

8,503

The amount of non-cancellable operating lease payments recognised as an expense during the year was £3,026 (2023 - £3,242).