SC Fabrications (Norwich) Limited 04721608 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is that of fabricators and crane assisted haulage. Digita Accounts Production Advanced 6.30.9574.0 true 04721608 2023-09-01 2024-08-31 04721608 2024-08-31 04721608 bus:OrdinaryShareClass1 2024-08-31 04721608 core:RetainedEarningsAccumulatedLosses 2024-08-31 04721608 core:ShareCapital 2024-08-31 04721608 core:CurrentFinancialInstruments 2024-08-31 04721608 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 04721608 core:Non-currentFinancialInstruments 2024-08-31 04721608 core:Non-currentFinancialInstruments core:AfterOneYear 2024-08-31 04721608 core:Goodwill 2024-08-31 04721608 core:FurnitureFittingsToolsEquipment 2024-08-31 04721608 core:MotorVehicles 2024-08-31 04721608 core:OtherPropertyPlantEquipment 2024-08-31 04721608 bus:SmallEntities 2023-09-01 2024-08-31 04721608 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 04721608 bus:FilletedAccounts 2023-09-01 2024-08-31 04721608 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 04721608 bus:RegisteredOffice 2023-09-01 2024-08-31 04721608 bus:Director1 2023-09-01 2024-08-31 04721608 bus:Director3 2023-09-01 2024-08-31 04721608 bus:OrdinaryShareClass1 2023-09-01 2024-08-31 04721608 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 04721608 core:Goodwill 2023-09-01 2024-08-31 04721608 core:FurnitureFittings 2023-09-01 2024-08-31 04721608 core:FurnitureFittingsToolsEquipment 2023-09-01 2024-08-31 04721608 core:MotorVehicles 2023-09-01 2024-08-31 04721608 core:OtherPropertyPlantEquipment 2023-09-01 2024-08-31 04721608 core:PlantMachinery 2023-09-01 2024-08-31 04721608 countries:EnglandWales 2023-09-01 2024-08-31 04721608 2023-08-31 04721608 core:Goodwill 2023-08-31 04721608 core:FurnitureFittingsToolsEquipment 2023-08-31 04721608 core:MotorVehicles 2023-08-31 04721608 core:OtherPropertyPlantEquipment 2023-08-31 04721608 2022-09-01 2023-08-31 04721608 2023-08-31 04721608 bus:OrdinaryShareClass1 2023-08-31 04721608 core:RetainedEarningsAccumulatedLosses 2023-08-31 04721608 core:ShareCapital 2023-08-31 04721608 core:CurrentFinancialInstruments 2023-08-31 04721608 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 04721608 core:Non-currentFinancialInstruments 2023-08-31 04721608 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-31 04721608 core:Goodwill 2023-08-31 04721608 core:FurnitureFittingsToolsEquipment 2023-08-31 04721608 core:MotorVehicles 2023-08-31 04721608 core:OtherPropertyPlantEquipment 2023-08-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04721608

SC Fabrications (Norwich) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

SC Fabrications (Norwich) Limited

Contents


 

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

SC Fabrications (Norwich) Limited

Registration number: 04721608

Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

1

1

Tangible assets

5

426,970

398,370

 

426,971

398,371

Current assets

 

Stocks

6

15,000

13,000

Debtors

7

218,718

255,777

Cash at bank and in hand

 

181,093

89,253

 

414,811

358,030

Creditors: Amounts falling due within one year

8

(263,866)

(254,898)

Net current assets

 

150,945

103,132

Total assets less current liabilities

 

577,916

501,503

Creditors: Amounts falling due after more than one year

8

(120,486)

(172,944)

Provisions for liabilities

(106,743)

(99,593)

Net assets

 

350,687

228,966

Capital and reserves

 

Called up share capital

9

3

3

Retained earnings

350,684

228,963

Shareholders' funds

 

350,687

228,966



The director's statements required by sections 475 (2) and (3) are shown on the following page which forms part of this Balance Sheet.

 

SC Fabrications (Norwich) Limited

Registration number: 04721608

Balance Sheet as at 31 August 2024 (continued)

For the financial year ending 31 August 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 5 March 2025 and signed on its behalf by:
 

S G Copland
Director

S S Copland
Director

 
     

 

SC Fabrications (Norwich) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Stalland Common
Great Ellingham
Norfolk
NR17 1JF
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

SC Fabrications (Norwich) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

2

Accounting policies (continued)

Government grants

Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets. Government grants in relation to expenditure are credited when the expenditure is charged to profit and loss.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Fixtures, fittings and equipment

25% reducing balance

Motor vehicles

25% reducing balance

Furniture and fittings

25% reducing balance

 

SC Fabrications (Norwich) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

2

Accounting policies (continued)

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

SC Fabrications (Norwich) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 11 (2023 - 11).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 September 2023

30,218

30,218

At 31 August 2024

30,218

30,218

Amortisation

At 1 September 2023

30,217

30,217

At 31 August 2024

30,217

30,217

Carrying amount

At 31 August 2024

1

1

At 31 August 2023

1

1

 

SC Fabrications (Norwich) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 September 2023

79,778

974,367

260,227

1,314,372

Additions

7,330

201,260

20,500

229,090

Disposals

-

(198,574)

(21,750)

(220,324)

At 31 August 2024

87,108

977,053

258,977

1,323,138

Depreciation

At 1 September 2023

75,865

633,641

206,496

916,002

Charge for the year

2,812

121,585

17,935

142,332

Eliminated on disposal

-

(142,925)

(19,241)

(162,166)

At 31 August 2024

78,677

612,301

205,190

896,168

Carrying amount

At 31 August 2024

8,431

364,752

53,787

426,970

At 31 August 2023

3,913

340,726

53,731

398,370

Leased assets

6

Stocks

2024
£

2023
£

Other inventories

15,000

13,000

 

SC Fabrications (Norwich) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

7

Debtors

Current

2024
£

2023
£

Trade debtors

149,172

252,707

Prepayments

69,546

3,070

 

218,718

255,777

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

10

86,488

87,614

Trade creditors

 

14,416

28,366

Directors' loan accounts

761

8,484

Taxation and social security

 

134,382

101,707

Other creditors

 

27,819

28,727

 

263,866

254,898

Due after one year

 

Loans and borrowings

10

120,486

172,944

 

SC Fabrications (Norwich) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

3

3

3

3

       

10

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

12,474

22,354

HP and finance lease liabilities

108,012

150,590

120,486

172,944

2024
£

2023
£

Current loans and borrowings

Bank borrowings

10,648

10,648

HP and finance lease liabilities

75,840

76,966

86,488

87,614