Company Registration No. 12435836 (England and Wales)
SWEL Weldfab Limited
Unaudited accounts
for the year ended 31 January 2025
SWEL Weldfab Limited
Unaudited accounts
Contents
SWEL Weldfab Limited
Company Information
for the year ended 31 January 2025
Directors
Neale Patterson
Patricia Welsh
Company Number
12435836 (England and Wales)
Registered Office
UNIT 3 SHELLEY ROAD
PRESERVING WORKS
NEWCASTLE UPON TYNE
TYNE AND WEAR
NE15 9RT
ENGLAND
Accountants
Payroll Simple Limited
1 Broadway
Lemington
Newcastle upon Tyne
NE15 7JY
SWEL Weldfab Limited
Statement of financial position
as at 31 January 2025
Called up share capital not paid
-
(2)
Tangible assets
49,696
21,959
Cash at bank and in hand
183,051
129,187
Creditors: amounts falling due within one year
(168,265)
(170,632)
Net current assets
74,336
90,333
Total assets less current liabilities
124,032
112,290
Creditors: amounts falling due after more than one year
(3,000)
(9,000)
Net assets
121,032
103,290
Called up share capital
2
2
Profit and loss account
121,030
103,288
Shareholders' funds
121,032
103,290
For the year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 11 February 2025 and were signed on its behalf by
Neale Patterson
Director
Company Registration No. 12435836
SWEL Weldfab Limited
Notes to the Accounts
for the year ended 31 January 2025
SWEL Weldfab Limited is a private company, limited by shares, registered in England and Wales, registration number 12435836. The registered office and principal place of business is UNIT 3 SHELLEY ROAD, PRESERVING WORKS, NEWCASTLE UPON TYNE, TYNE AND WEAR, NE15 9RT, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Expenditure on research and development is written off in the year in which it is incurred.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
SWEL Weldfab Limited
Notes to the Accounts
for the year ended 31 January 2025
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 February 2024
38,292
-
440
2,105
40,837
Additions
11,300
19,995
961
3,874
36,130
At 31 January 2025
49,592
19,995
1,401
5,979
76,967
At 1 February 2024
17,597
-
181
1,100
18,878
Charge for the year
5,468
1,999
196
730
8,393
At 31 January 2025
23,065
1,999
377
1,830
27,271
At 31 January 2025
26,527
17,996
1,024
4,149
49,696
At 31 January 2024
20,695
-
259
1,005
21,959
Amounts falling due within one year
Trade debtors
107,327
171,555
Other debtors
(47,777)
(47,777)
6
Creditors: amounts falling due within one year
2025
2024
Bank loans and overdrafts
6,014
6,031
Obligations under finance leases and hire purchase contracts
16,919
3,394
Trade creditors
93,926
120,873
Taxes and social security
16,621
14,198
7
Creditors: amounts falling due after more than one year
2025
2024
Barclays (COVID) Bounce Back loan taken over ten years
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
SWEL Weldfab Limited
Notes to the Accounts
for the year ended 31 January 2025
9
Average number of employees
During the year the average number of employees was 13 (2024: 13).