IRIS Accounts Productionv24.3.2.4602859297Board of Directors1.7.2330.6.2430.6.24falsetruefalsefalsefalsetruefalseOrdinary1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh028592972023-06-30028592972024-06-30028592972023-07-012024-06-30028592972022-06-30028592972022-07-012023-06-30028592972023-06-3002859297ns15:EnglandWales2023-07-012024-06-3002859297ns14:PoundSterling2023-07-012024-06-3002859297ns10:Director12023-07-012024-06-3002859297ns10:PrivateLimitedCompanyLtd2023-07-012024-06-3002859297ns10:SmallEntities2023-07-012024-06-3002859297ns10:AuditExemptWithAccountantsReport2023-07-012024-06-3002859297ns10:SmallCompaniesRegimeForDirectorsReport2023-07-012024-06-3002859297ns10:SmallCompaniesRegimeForAccounts2023-07-012024-06-3002859297ns10:AbridgedAccounts2023-07-012024-06-300285929712023-07-012024-06-3002859297ns10:OrdinaryShareClass12023-07-012024-06-3002859297ns10:Director22023-07-012024-06-3002859297ns10:Director32023-07-012024-06-3002859297ns10:Director42023-07-012024-06-3002859297ns10:Director62023-07-012024-06-3002859297ns10:Director72023-07-012024-06-3002859297ns10:Director82023-07-012024-06-3002859297ns10:RegisteredOffice2023-07-012024-06-3002859297ns5:CurrentFinancialInstruments2024-06-3002859297ns5:CurrentFinancialInstruments2023-06-3002859297ns5:Non-currentFinancialInstruments2024-06-3002859297ns5:Non-currentFinancialInstruments2023-06-3002859297ns5:ShareCapital2024-06-3002859297ns5:ShareCapital2023-06-3002859297ns5:RetainedEarningsAccumulatedLosses2024-06-3002859297ns5:RetainedEarningsAccumulatedLosses2023-06-3002859297ns5:NetGoodwill2023-07-012024-06-3002859297ns5:IntangibleAssetsOtherThanGoodwill2023-07-012024-06-3002859297ns5:WithinOneYearns5:CurrentFinancialInstruments2024-06-3002859297ns5:WithinOneYearns5:CurrentFinancialInstruments2023-06-3002859297ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-06-3002859297ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-06-3002859297ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-06-3002859297ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-06-3002859297ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2024-06-3002859297ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2023-06-3002859297ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-06-3002859297ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-06-3002859297ns5:HirePurchaseContracts2024-06-3002859297ns5:HirePurchaseContracts2023-06-3002859297ns5:WithinOneYear2024-06-3002859297ns5:WithinOneYear2023-06-3002859297ns5:BetweenOneFiveYears2024-06-3002859297ns5:BetweenOneFiveYears2023-06-3002859297ns5:AllPeriods2024-06-3002859297ns5:AllPeriods2023-06-3002859297ns5:Secured2024-06-3002859297ns5:Secured2023-06-3002859297ns5:DeferredTaxation2023-06-3002859297ns5:DeferredTaxation2024-06-3002859297ns10:OrdinaryShareClass12024-06-30

REGISTERED NUMBER: 02859297 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2024


FOR



TOTAL FABRICATIONS LIMITED


TOTAL FABRICATIONS LIMITED (REGISTERED NUMBER: 02859297)



CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2024











Page




Company Information  

1




Statement of Directors' Responsibilities  

2




Independent Chartered Certified Accountants' Assurance Report  

3




Abridged Balance Sheet  

5




Notes to the Financial Statements  

7





TOTAL FABRICATIONS LIMITED



COMPANY INFORMATION

FOR THE YEAR ENDED 30TH JUNE 2024









DIRECTORS:

Mr C P N Cronin


Mrs K L Cronin


Mr D G Willis ACA


Mr W I Goh


Mr I R Hall


Mr N M Tranter


Mr M J Powell




REGISTERED OFFICE:

Units 3 & 4


Kingston Industrial Estate


81 - 86 Glover Street


BIRMINGHAM


West Midlands


B9 4EN




REGISTERED NUMBER:

02859297 (England and Wales)




ACCOUNTANTS:

Michael Heaven & Associates Limited


Chartered Certified Accountants


47 Calthorpe Road


Edgbaston


BIRMINGHAM


B15 1TH




BANKERS:

Lloyds Bank PLC


134 New Street


BIRMINGHAM


B2 4QZ




INCORPORATED:

5th October 1993


TOTAL FABRICATIONS LIMITED (REGISTERED NUMBER: 02859297)



STATEMENT OF DIRECTORS' RESPONSIBILITIES

FOR THE YEAR ENDED 30TH JUNE 2024



The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.    


The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.


Company law requires the directors to prepare financial statements for each financial year.  Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.  In preparing these financial statements, the directors are required to:


-

select suitable accounting policies and then apply them consistently;

-

make judgements and accounting estimates that are reasonable and prudent;

-

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.


The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.



ON BEHALF OF THE BOARD:






Mr D G Willis ACA - Director


17th February 2025




TOTAL FABRICATIONS LIMITED (REGISTERED NUMBER: 02859297)



ABRIDGED BALANCE SHEET

30TH JUNE 2024



30/6/24

30/6/23



Notes

£   

£   

£   

£   


FIXED ASSETS

Intangible assets

4

-


-



Tangible assets

5

293,713


399,719



293,713


399,719




CURRENT ASSETS

Stocks

561,519


584,284



Debtors

572,048


829,910



Cash at bank and in hand

544,909


616,302



1,678,476


2,030,496



CREDITORS

Amounts falling due within one year

850,114


948,557



NET CURRENT ASSETS

828,362


1,081,939



TOTAL ASSETS LESS CURRENT

LIABILITIES

1,122,075


1,481,658




CREDITORS

Amounts falling due after more than one

year

(110,201

)

(198,089

)



PROVISIONS FOR LIABILITIES

9

(73,428

)

(99,930

)


NET ASSETS

938,446


1,183,639




CAPITAL AND RESERVES

Called up share capital

10

1,000


1,000



Retained earnings

937,446


1,182,639



SHAREHOLDERS' FUNDS

938,446


1,183,639




TOTAL FABRICATIONS LIMITED (REGISTERED NUMBER: 02859297)



ABRIDGED BALANCE SHEET - continued

30TH JUNE 2024



The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2024.  


The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2024 in accordance with Section 476 of the Companies Act 2006.  


The directors acknowledge their 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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.  


All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30th June 2024 in accordance with Section 444(2A) of the Companies Act 2006.  


In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.


The financial statements were approved by the Board of Directors and authorised for issue on 17th February 2025 and were signed on its behalf by:






Mr D G Willis ACA - Director



TOTAL FABRICATIONS LIMITED (REGISTERED NUMBER: 02859297)



NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2024



1.

STATUTORY INFORMATION



Total Fabrications Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.


2.

ACCOUNTING POLICIES



Basis of preparing the financial statements


These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.    



Turnover


Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.



Where a contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total expected consideration at completion.



Where payments are received from customers in advance of invoices for services provided, the amounts are recorded as payments on account and included as part of creditors due within one year.



Goodwill


Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.  



Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.


Tangible fixed assets

Depreciation of fixed assets is calculated to write off their cost or valuation less any residual value over their estimated useful lives as follows:-

Plant and machinery - 10%/20% straight line


Stocks


Stock and work in progress is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. A relevant proportion of production overheads according to the stage of manufacture is added to work in progress and finished goods.


TOTAL FABRICATIONS LIMITED (REGISTERED NUMBER: 02859297)



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30TH JUNE 2024



2.

ACCOUNTING POLICIES - continued



Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.


Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.


Research and development

Expenditure on research and development is written off in the year in which it is incurred.



Foreign currencies

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction.

At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.


TOTAL FABRICATIONS LIMITED (REGISTERED NUMBER: 02859297)



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30TH JUNE 2024



2.

ACCOUNTING POLICIES - continued



Hire purchase and leasing commitments


A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life.



Operating lease payments are recognised as an expense on a straight line basis over the lease term.



Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.


Debtors


Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.



Creditors


Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.

EMPLOYEES AND DIRECTORS



The average number of employees during the year was 36 (2023 - 39 ) .


TOTAL FABRICATIONS LIMITED (REGISTERED NUMBER: 02859297)



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30TH JUNE 2024



4.

INTANGIBLE FIXED ASSETS


Totals

£   



COST


At 1st July 2023


and 30th June 2024

10,000




AMORTISATION


At 1st July 2023


and 30th June 2024

10,000




NET BOOK VALUE



At 30th June 2024

-




At 30th June 2023

-




5.

TANGIBLE FIXED ASSETS


Totals

£   



COST


At 1st July 2023

571,723




Disposals

(104,377

)



At 30th June 2024

467,346




DEPRECIATION


At 1st July 2023

172,004




Charge for year

55,375




Eliminated on disposal

(53,746

)



At 30th June 2024

173,633




NET BOOK VALUE


At 30th June 2024

293,713




At 30th June 2023

399,719




TOTAL FABRICATIONS LIMITED (REGISTERED NUMBER: 02859297)



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30TH JUNE 2024



5.

TANGIBLE FIXED ASSETS - continued



Fixed assets, included in the above, which are held under hire purchase contracts are as follows:



Totals

£   



COST


At 1st July 2023

483,676




Transfer to ownership

(98,500

)



At 30th June 2024

385,176




DEPRECIATION


At 1st July 2023

130,441




Charge for year

42,622




Transfer to ownership

(49,250

)



At 30th June 2024

123,813




NET BOOK VALUE


At 30th June 2024

261,363




At 30th June 2023

353,235




6.

LOANS



An analysis of the maturity of loans is given below:



30/6/24


30/6/23

£   

£   



Amounts falling due within one year or on demand:


Bank loans

43,334


40,000





Amounts falling due between one and two years:


Bank loans

36,666


40,000





Amounts falling due between two and five years:


Bank loans

-


36,667




TOTAL FABRICATIONS LIMITED (REGISTERED NUMBER: 02859297)



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30TH JUNE 2024



7.

LEASING AGREEMENTS



Minimum lease payments fall due as follows:



Hire purchase contracts



30/6/24


30/6/23


£   

£   



Net obligations repayable:


Within one year

47,887


85,405




Between one and five years

73,535


121,422



121,422


206,827





Non-cancellable operating leases




30/6/24


30/6/23

£   

£   



Within one year

9,045


6,030




Between one and five years

6,030


15,075



15,075


21,105





The total lease payments recognised as an expense during the year was £6,030.


8.

SECURED DEBTS



The following secured debts are included within creditors:



30/6/24


30/6/23

£   

£   



Bank loans

80,000


116,667





There is an all monies fixed and floating debenture given to the bank over all assets of the company. This is to cover any bank overdrafts and bank loans granted.


9.

PROVISIONS FOR LIABILITIES


30/6/24


30/6/23

£   

£   



Deferred tax

73,428


99,930




TOTAL FABRICATIONS LIMITED (REGISTERED NUMBER: 02859297)



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30TH JUNE 2024



9.

PROVISIONS FOR LIABILITIES - continued



Deferred



tax


£   



Balance at 1st July 2023

99,930




Movement

(26,502

)



Balance at 30th June 2024

73,428




Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated.

Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

A provision for annual leave accrued by employees as a result of services rendered in the current period, and which employees are entitled to carry forward and use within the next 12 months is recognised. The provision is measured at the salary cost payable for the period of absence.

10.

CALLED UP SHARE CAPITAL



Allotted and issued:


Number:

Class:

Nominal

30/6/24


30/6/23


value:

£   

£   



1,000

Share capital

£1

1,000


1,000