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DALES FABRICATIONS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024






DALES FABRICATIONS LIMITED (REGISTERED NUMBER: 01488972)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DALES FABRICATIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: C F Dales
K R Prosser
A J Purdy
T E Strickland
N D Chambers
K I Prosser





REGISTERED OFFICE: Crompton Rd Industrial Estate
Ilkeston
Derbyshire
DE7 4BG





REGISTERED NUMBER: 01488972 (England and Wales)





ACCOUNTANTS: Sibbalds Limited
Chartered Accountants and Business Advisers
Oakhurst House
57 Ashbourne Road
Derby
Derbyshire
DE22 3FS

DALES FABRICATIONS LIMITED (REGISTERED NUMBER: 01488972)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 783
Tangible assets 5 639,378 718,698
639,378 719,481

CURRENT ASSETS
Stocks 241,214 245,805
Debtors 6 950,982 559,728
Cash at bank and in hand 528,229 430,969
1,720,425 1,236,502
CREDITORS
Amounts falling due within one year 7 1,161,373 749,863
NET CURRENT ASSETS 559,052 486,639
TOTAL ASSETS LESS CURRENT LIABILITIES 1,198,430 1,206,120

CREDITORS
Amounts falling due after more than one
year

8

(94,249

)

(155,744

)

PROVISIONS FOR LIABILITIES 11 (125,300 ) (143,900 )
NET ASSETS 978,881 906,476

CAPITAL AND RESERVES
Called up share capital 12 47,266 47,266
Share premium 67,282 67,282
Capital redemption reserve 15,752 15,752
Retained earnings 848,581 776,176
SHAREHOLDERS' FUNDS 978,881 906,476

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

DALES FABRICATIONS LIMITED (REGISTERED NUMBER: 01488972)

BALANCE SHEET - continued
31 DECEMBER 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 25 March 2025 and were signed on its behalf by:





A J Purdy - Director


DALES FABRICATIONS LIMITED (REGISTERED NUMBER: 01488972)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. STATUTORY INFORMATION

Dales 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. This is usually when the goods are despatched to the customer. The following criteria must also be met before revenue is recognised:
- the company has transferred the significant risks and rewards of ownership to the buyer;
- the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
- the amount of revenue can be measured reliably;
- it is probable that the company will receive the consideration due under the transaction; and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost and 5% on cost
Plant and machinery - 33% on cost, 20% on cost and 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on cost and 25% on reducing balance

Stocks
Stocks are stated 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 stock to its present location and condition, as follows:

- Raw materials: average purchase cost on a first-in, first out basis.
- Work in progress and finished goods: cost of direct materials and labour plus attributable overheads based on a normal level of activity.

Provision is made for damaged, obsolete and slow-moving stock where appropriate.


DALES FABRICATIONS LIMITED (REGISTERED NUMBER: 01488972)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 40 (2023 - 38 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2024
and 31 December 2024 3,370
AMORTISATION
At 1 January 2024 2,587
Charge for year 783
At 31 December 2024 3,370
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 783

DALES FABRICATIONS LIMITED (REGISTERED NUMBER: 01488972)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2024 79,887 1,416,081 33,329 309,383 1,838,680
Additions - 11,930 327 64,957 77,214
Disposals - - - (94,197 ) (94,197 )
At 31 December 2024 79,887 1,428,011 33,656 280,143 1,821,697
DEPRECIATION
At 1 January 2024 44,744 891,716 30,290 153,232 1,119,982
Charge for year 5,962 92,001 630 39,962 138,555
Eliminated on disposal - - - (76,218 ) (76,218 )
At 31 December 2024 50,706 983,717 30,920 116,976 1,182,319
NET BOOK VALUE
At 31 December 2024 29,181 444,294 2,736 163,167 639,378
At 31 December 2023 35,143 524,365 3,039 156,151 718,698

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 835,215 448,604
Other debtors 115,767 111,124
950,982 559,728

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 61,495 69,196
Trade creditors 519,304 394,288
Taxation and social security 299,484 112,549
Other creditors 281,090 173,830
1,161,373 749,863

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 94,249 155,744

DALES FABRICATIONS LIMITED (REGISTERED NUMBER: 01488972)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 61,495 69,196
Between one and five years 94,249 155,744
155,744 224,940

Non-cancellable operating leases
2024 2023
£    £   
Within one year 79,583 70,225
Between one and five years 59,116 112,473
138,699 182,698

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 155,744 224,940

Hire purchase agreements are secured on the assets leased.

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 125,300 143,900

Deferred
tax
£   
Balance at 1 January 2024 143,900
Credit to Statement of Income and Retained Earnings during year (18,600 )
Balance at 31 December 2024 125,300

DALES FABRICATIONS LIMITED (REGISTERED NUMBER: 01488972)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
30,964 A Ordinary £1 30,964 30,964
3,175 B Ordinary £1 3,175 3,175
6,563 C Ordinary £1 6,563 6,563
6,564 D Ordinary £1 6,564 6,564
47,266 47,266