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COMPANY REGISTRATION NUMBER: 04297273
TATTON FABRICATIONS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 October 2024
TATTON FABRICATIONS LIMITED
STATEMENT OF FINANCIAL POSITION
31 October 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
115,611
76,409
Current assets
Stocks
7,000
12,000
Debtors
6
197,410
137,393
Cash at bank and in hand
430,033
427,368
-----------
-----------
634,443
576,761
Creditors: amounts falling due within one year
7
122,513
133,444
-----------
-----------
Net current assets
511,930
443,317
-----------
-----------
Total assets less current liabilities
627,541
519,726
Provisions
Taxation including deferred tax
27,887
13,566
-----------
-----------
Net assets
599,654
506,160
-----------
-----------
TATTON FABRICATIONS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 October 2024
2024
2023
Note
£
£
£
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
598,654
505,160
-----------
-----------
Shareholders funds
599,654
506,160
-----------
-----------
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 income and retained earnings has not been delivered.
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 28 February 2025 , and are signed on behalf of the board by:
P J Tatton
Director
Company registration number: 04297273
TATTON FABRICATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 OCTOBER 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Poplar Farm, Digby Fen, Billinghay, Lincolnshire, LN4 4DT.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Revenue recognition
The turnover shown in the profit and loss account represents the value of all goods sold during the period, less returns received, at selling price exclusive of Value Added Tax. Sales are recognised at the point at which the company has fulfilled its contractual obligations and the risks and rewards attaching to the product, such as obsolescence, have been transferred to the customer.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold Improv'ts
-
10% straight line
Tools and Equipment
-
25% reducing balance
Fixtures and Fittings
-
25% reducing balance
Motor Vehicles
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
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 stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
A financial asset or a financial liability is recognised only when the entity 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. Other financial instruments, including derivatives, are initially recognised at fair value, with any subsequent changes to fair value recognised in profit or loss.
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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 10 (2023: 10 ).
5. Tangible assets
Leasehold Improv'ts
Tools and Equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 November 2023
17,278
108,548
13,226
93,444
232,496
Additions
9,562
3,893
50,885
64,340
---------
-----------
---------
-----------
-----------
At 31 October 2024
17,278
118,110
17,119
144,329
296,836
---------
-----------
---------
-----------
-----------
Depreciation
At 1 November 2023
16,097
77,988
10,537
51,465
156,087
Charge for the year
346
9,275
1,161
14,356
25,138
---------
-----------
---------
-----------
-----------
At 31 October 2024
16,443
87,263
11,698
65,821
181,225
---------
-----------
---------
-----------
-----------
Carrying amount
At 31 October 2024
835
30,847
5,421
78,508
115,611
---------
-----------
---------
-----------
-----------
At 31 October 2023
1,181
30,560
2,689
41,979
76,409
---------
-----------
---------
-----------
-----------
6. Debtors
2024
2023
£
£
Trade debtors
172,480
117,076
Other debtors
24,930
20,317
-----------
-----------
197,410
137,393
-----------
-----------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
55,125
42,459
Corporation tax
53,628
51,602
Social security and other taxes
8,270
4,828
Other creditors
5,490
34,555
-----------
-----------
122,513
133,444
-----------
-----------
8. Directors' advances, credits and guarantees
During the year the company made cash advances to S L Tatton. Interest has been charged on all advances made at 2.25% and the balance owed to the company at the year end was £17,478.
9. Controlling party
The company was under the control of the directors throughout the current and previous year.