2 01/06/2023 31/05/2024 2024-05-31 false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2023-06-01 Sage Accounts Production 24.0 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP 11352390 2023-06-01 2024-05-31 11352390 2024-05-31 11352390 2023-05-31 11352390 2022-06-01 2023-05-31 11352390 2023-05-31 11352390 2022-05-31 11352390 bus:Director1 2023-06-01 2024-05-31 11352390 core:WithinOneYear 2024-05-31 11352390 core:WithinOneYear 2023-05-31 11352390 core:AfterOneYear 2024-05-31 11352390 core:AfterOneYear 2023-05-31 11352390 core:ShareCapital 2024-05-31 11352390 core:ShareCapital 2023-05-31 11352390 core:RetainedEarningsAccumulatedLosses 2024-05-31 11352390 core:RetainedEarningsAccumulatedLosses 2023-05-31 11352390 bus:Director1 2023-05-31 11352390 bus:Director1 2024-05-31 11352390 bus:Director1 2023-05-31 11352390 bus:Director1 2022-06-01 2023-05-31 11352390 bus:SmallEntities 2023-06-01 2024-05-31 11352390 bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 11352390 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 11352390 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 11352390 bus:FullAccounts 2023-06-01 2024-05-31
Company registration number: 11352390
Huddersfield Fabrications Ltd
Unaudited filleted financial statements
31 May 2024
Huddersfield Fabrications Ltd
Contents
Statement of financial position
Notes to the financial statements
Huddersfield Fabrications Ltd
Statement of financial position
31 May 2024
2024 2023
Note £ £ £ £
Current assets
Stocks 33,667 27,607
Debtors 5 28,418 37,308
Cash at bank and in hand 11,018 66,217
_______ _______
73,103 131,132
Creditors: amounts falling due
within one year 6 ( 59,017) ( 93,472)
_______ _______
Net current assets 14,086 37,660
_______ _______
Total assets less current liabilities 14,086 37,660
Creditors: amounts falling due
after more than one year 7 ( 11,000) ( 17,000)
_______ _______
Net assets 3,086 20,660
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account 3,084 20,658
_______ _______
Shareholder funds 3,086 20,660
_______ _______
For the year ending 31 May 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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 06 January 2025 , and are signed on behalf of the board by:
Mr Philip Keogh
Director
Company registration number: 11352390
Huddersfield Fabrications Ltd
Notes to the financial statements
Year ended 31 May 2024
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Huddersfield Fabrications Ltd, Starch Hall Barn, Gallows Lane, Ribchester, Preston, PR3 3XX.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.
When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Debtors
2024 2023
£ £
Trade debtors 12,878 12,206
Other debtors 15,540 25,102
_______ _______
28,418 37,308
_______ _______
6. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 6,000 6,000
Trade creditors 46,146 77,726
Corporation tax 5,192 1,312
Social security and other taxes - 5,680
Other creditors 1,679 2,754
_______ _______
59,017 93,472
_______ _______
7. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 11,000 17,000
_______ _______
.
8. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Mr Philip Keogh ( 152) ( 117) ( 269)
_______ _______ _______
2023
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Mr Philip Keogh - ( 152) ( 152)
_______ _______ _______
Credits on directors' accounts are provided to the company unsecured, interest free and are repayable on demand.