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Registration number: 03858795

Allmet Fabrications Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2024

 

Allmet Fabrications Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Allmet Fabrications Limited

Company Information

Directors

PN Wood

SP Rowe

RK Brooks

Registered office

Unit 3, Oldfield Court
Oldfield Business Park
Fenton
Stoke on Trent
Staffordshire
ST4 3ES

 

Allmet Fabrications Limited

(Registration number: 03858795)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

56,419

55,743

Current assets

 

Stocks

6

13,370

11,855

Debtors

7

897,176

208,964

Cash at bank and in hand

 

316,881

730,491

 

1,227,427

951,310

Creditors: Amounts falling due within one year

8

(211,831)

(228,336)

Net current assets

 

1,015,596

722,974

Total assets less current liabilities

 

1,072,015

778,717

Provisions for liabilities

(13,935)

(13,935)

Net assets

 

1,058,080

764,782

Capital and reserves

 

Called up share capital

9

150,050

150,050

Retained earnings

908,030

614,732

Shareholders' funds

 

1,058,080

764,782

For the financial 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 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.

Approved and authorised by the Board on 11 March 2025 and signed on its behalf by:
 

.........................................
PN Wood
Director

.........................................
SP Rowe
Director

.........................................
RK Brooks
Director

     
 

Allmet Fabrications Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 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:
Unit 3, Oldfield Court
Oldfield Business Park
Fenton
Stoke on Trent
Staffordshire
ST4 3ES

These financial statements were authorised for issue by the Board on 11 March 2025.

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.

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.

Tax

The tax expense for the period comprises current 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.

 

Allmet Fabrications Limited

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

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

15% straight line basis

Fixtures and fittings

5% straight line basis

Office equipment

15% straight line basis

Motor vehicles

25% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

 

Allmet Fabrications Limited

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 13 (2023 - 12).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

17,384

13,817

 

Allmet Fabrications Limited

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

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 November 2023

51,642

57,282

260,608

369,532

Additions

5,457

11,200

1,404

18,061

Disposals

-

(7,900)

-

(7,900)

At 31 October 2024

57,099

60,582

262,012

379,693

Depreciation

At 1 November 2023

37,377

57,282

219,131

313,790

Charge for the year

2,748

2,800

11,836

17,384

Eliminated on disposal

-

(7,900)

-

(7,900)

At 31 October 2024

40,125

52,182

230,967

323,274

Carrying amount

At 31 October 2024

16,974

8,400

31,045

56,419

At 31 October 2023

14,265

1

41,477

55,743

6

Stocks

2024
£

2023
£

Raw materials and consumables

4,720

4,660

Work in progress

8,650

7,195

13,370

11,855

7

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

250,436

153,253

Amounts owed by related parties

10

636,394

-

Prepayments

 

10,346

9,951

Other debtors

 

-

45,760

   

897,176

208,964

8

Creditors

Creditors: amounts falling due within one year

 

Allmet Fabrications Limited

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

2024
£

2023
£

Due within one year

Trade creditors

97,888

108,639

Taxation and social security

95,955

112,631

Accruals and deferred income

11,378

5,984

Other creditors

6,610

1,082

211,831

228,336

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

50

50

50

50

Preference shares of £1 each

150,000

150,000

150,000

150,000

150,050

150,050

150,050

150,050

10

Related party transactions

 

Allmet Fabrications Limited

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

Loans to related parties

2024

Parent
£

Total
£

Advanced

636,394

636,394

At end of period

636,394

636,394

11

Parent and ultimate parent undertaking

The company's immediate parent is Allmet Group Limited, incorporated in England.

  These financial statements are available upon request from Unit 3 Oldfields Court, Oldfields Business Park, Fenton, Stoke on Trent, ST4 3ES