REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 |
FOR |
DORSET FORGE & FABRICATION LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 |
FOR |
DORSET FORGE & FABRICATION LTD |
DORSET FORGE & FABRICATION LTD (REGISTERED NUMBER: 08667959) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2024 |
Page |
Balance sheet | 1 |
Notes to the financial statements | 2 |
DORSET FORGE & FABRICATION LTD (REGISTERED NUMBER: 08667959) |
BALANCE SHEET |
31 AUGUST 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Current assets |
Stocks |
Debtors | 5 |
Cash at bank |
Creditors |
Amounts falling due within one year | 6 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities |
Provisions for liabilities | 7 |
Net assets |
Capital and reserves |
Called up share capital | 8 |
Retained earnings |
Shareholders' funds |
The director acknowledges his 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. |
The financial statements were approved by the director and authorised for issue on |
DORSET FORGE & FABRICATION LTD (REGISTERED NUMBER: 08667959) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2024 |
1. | Statutory information |
Dorset Forge & Fabrication Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 08667959. The registered office is 7 & 8 Church Street, Wimborne, Dorset, BH21 1JH and business address is Morven, Sackmore Lane, Marnhull, Sturminster Newton, Dorset, DT10 1PJ. |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover represents income receivable from forge and fabrication of steel, net of VAT and trade discounts. |
Tangible fixed assets |
Plant and machinery | - |
Motor vehicles | - |
Computer equipment | - |
Stocks |
Stock and Work In Progress are valued at the lower of cost and net realisable value. |
Taxation |
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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. |
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset. |
Financial instruments |
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities. |
At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate. |
3. | Employees and directors |
The average number of employees during the year was |
DORSET FORGE & FABRICATION LTD (REGISTERED NUMBER: 08667959) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2024 |
4. | Tangible fixed assets |
Plant and | Motor | Computer |
machinery | vehicles | equipment | Totals |
£ | £ | £ | £ |
Cost |
At 1 September 2023 |
Additions |
At 31 August 2024 |
Depreciation |
At 1 September 2023 |
Charge for year |
At 31 August 2024 |
Net book value |
At 31 August 2024 |
At 31 August 2023 |
5. | Debtors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade debtors |
VAT |
Prepayments |
6. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Tax |
VAT | - | 3,381 |
Directors' current accounts | 16,509 | 22,565 |
Accruals and deferred income |
7. | Provisions for liabilities |
2024 | 2023 |
£ | £ |
Deferred tax | 1,070 | 1,212 |
Deferred |
tax |
£ |
Balance at 1 September 2023 |
Credit to Income statement during year | ( |
) |
Balance at 31 August 2024 |
DORSET FORGE & FABRICATION LTD (REGISTERED NUMBER: 08667959) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2024 |
8. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary A | £1 | 75 | 75 |
Ordinary B | £1 | 25 | 25 |
100 | 100 |
9. | Ultimate controlling party |
The company is controlled by the director, Mr C Hannam, by virtue of his 75% ownership of the issued voting share capital. |