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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
Page
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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
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SWEL Weldfab Limited Statement of financial position as at 31 January 2025
2025 
2024 
Notes
£ 
£ 
Called up share capital not paid
- 
(2)
Fixed assets
Tangible assets
49,696 
21,959 
Current assets
Inventories
- 
8,000 
Debtors
59,550 
123,778 
Cash at bank and in hand
183,051 
129,187 
242,601 
260,965 
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 
Capital and reserves
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
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SWEL Weldfab Limited Notes to the Accounts for the year ended 31 January 2025
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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:
Plant & machinery
20%
Motor vehicles
20%
Fixtures & fittings
20%
Computer equipment
20%
Turnover
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.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Leased assets
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.
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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 
Depreciation
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 
Net book value
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 
5
Debtors
2025 
2024 
£ 
£ 
Amounts falling due within one year
Trade debtors
107,327 
171,555 
Other debtors
(47,777)
(47,777)
59,550 
123,778 
6
Creditors: amounts falling due within one year
2025 
2024 
£ 
£ 
Bank loans and overdrafts
6,014 
6,031 
VAT
15,385 
26,136 
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 
Accruals
19,400 
- 
168,265 
170,632 
7
Creditors: amounts falling due after more than one year
2025 
2024 
£ 
£ 
Bank loans
3,000 
9,000 
Barclays (COVID) Bounce Back loan taken over ten years
8
Share capital
2025 
2024 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
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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).
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