WELDMET LIMITED

Company Registration Number:
01724649 (England and Wales)

Unaudited abridged accounts for the year ended 30 June 2024

Period of accounts

Start date: 01 July 2023

End date: 30 June 2024

WELDMET LIMITED

Contents of the Financial Statements

for the Period Ended 30 June 2024

Balance sheet
Notes

WELDMET LIMITED

Balance sheet

As at 30 June 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 14,864 16,928
Total fixed assets: 14,864 16,928
Current assets
Stocks: 280,632 287,167
Debtors:   485,889 339,422
Cash at bank and in hand: 119,416 153,424
Total current assets: 885,937 780,013
Creditors: amounts falling due within one year: 4 (700,306) (580,784)
Net current assets (liabilities): 185,631 199,229
Total assets less current liabilities: 200,495 216,157
Creditors: amounts falling due after more than one year: 5 (11,033) (28,618)
Total net assets (liabilities): 189,462 187,539
Capital and reserves
Called up share capital: 200 200
Share premium account: 900 900
Profit and loss account: 188,362 186,439
Shareholders funds: 189,462 187,539

The notes form part of these financial statements

WELDMET LIMITED

Balance sheet statements

For the year ending 30 June 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 13 March 2025
and signed on behalf of the board by:

Name: J.B. Taylor
Status: Director

The notes form part of these financial statements

WELDMET LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover represents invoiced sales less credit notes, excluding value added tax.

Tangible fixed assets and depreciation policy

Depreciation is provided to write off the cost less estimated residual values of all fixed assets over their expected useful lives. It is calculated on the original cost of the assets, on a straight line basis, at the following rates. Fixtures, fittings and equipment 20 to 25 per cent per annum, Motor vehicles 25 per cent per annum.

Valuation and information policy

Stocks Stocks are valued at the lower of cost and net realisable value. Cost is based on the cost of purchase on an average basis. Net realisable value is based on estimated selling price less further costs to completion and disposal. Hire Purchase and Leasing Commitments Where assets are financed by hire purchase or leasing agreements that give rights approximating to ownership ("finance leases"), the assets are treated as if they had been purchased outright. The assets are capitalised and the obligation to the finance provider is treated as a creditor. Depreciation on the relevant assets is charged to the profit and loss account. Pension costs The company operates a defined contribution pension scheme. The assets are held separately from those of the company in an independently administered fund. Contributions paid by the company are charged to the profit and loss account in the year in which they become payable.

WELDMET LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

2. Employees

2024 2023
Average number of employees during the period 8 8

WELDMET LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

3. Tangible Assets

Total
Cost £
At 01 July 2023 104,300
Additions 7,150
At 30 June 2024 111,450
Depreciation
At 01 July 2023 87,372
Charge for year 9,214
At 30 June 2024 96,586
Net book value
At 30 June 2024 14,864
At 30 June 2023 16,928

WELDMET LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

4. Creditors: amounts falling due within one year note

Included within creditors - amounts falling due within one year is an amount of £234534 (2023 £194024) which are bank loans that bear interest at between 2% and 4% over Barclays Bank base rates and are repayable in monthly instalments. They are wholly repayable within five years. The current portion is shown in creditors falling due within one year. The loans are secured by way of a fixed and floating charge over the assets and undertaking of the company.

WELDMET LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

5. Creditors: amounts falling due after more than one year note

Included within creditors - amounts falling due after one year includes bank loans of £9645 (2023 £23067) that bear interest at between 2% and 4% over Barclays Bank base rates and are repayable in monthly instalments. They are wholly repayable within five years. The current portion is shown in creditors falling due within one year. The loans are secured by way of a fixed and floating charge over the assets and undertaking of the company.

WELDMET LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

6. Financial commitments

Total future minimum payments under non-cancellable operating leases was £37500 (2023 £24000).

WELDMET LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

7. Loans to directors

Name of director receiving advance or credit: JB Taylor
Description of the loan: Directors current account
£
Balance at 01 July 2023 74,667
Advances or credits made: 107,936
Advances or credits repaid: 109,860
Balance at 30 June 2024 72,743

WELDMET LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

8. Related party transactions

Name of the related party: G.L. Taylor & Co
Relationship:
Accountancy Services
Description of the Transaction: Accountancy services provided by a family member.
£
Balance at 01 July 2023 3,120
Balance at 30 June 2024 3,240