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Registration number: 04046152

A. C. Fabrications Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

A. C. Fabrications Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

A. C. Fabrications Limited

Company Information

Directors

Mr A Crossland

Mr J Crossland

Company secretary

Mrs J Crossland

Registered office

7 Kensington Road
Barnsley
South Yorkshire
S75 2TX

Accountants

Cameron Alexander Accountants Ltd
Chartered Certified Accountants
2 Western Street
Barnsley
South Yorkshire
S70 2BP

 

A. C. Fabrications Limited

(Registration number: 04046152)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

6,794

8,360

Current assets

 

Stocks

4

1,925

81,608

Debtors

5

25,844

68,433

Cash at bank and in hand

 

72,493

53,874

 

100,262

203,915

Creditors: Amounts falling due within one year

6

(125,917)

(123,365)

Net current (liabilities)/assets

 

(25,655)

80,550

Total assets less current liabilities

 

(18,861)

88,910

Provisions for liabilities

-

(1,143)

Net (liabilities)/assets

 

(18,861)

87,767

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(18,961)

87,667

Shareholders' (deficit)/funds

 

(18,861)

87,767

For the financial year ending 30 June 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 27 March 2025 and signed on its behalf by:
 

.........................................
Mr A Crossland
Director

 

A. C. Fabrications Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

Accounting policies

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.

Going concern

The financial statements have been prepared on a going concern basis.

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 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:

 

A. C. Fabrications Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Asset class

Depreciation method and rate

Plant and machinery etc

25% on reducing balance

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.

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.

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.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

A. C. Fabrications Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

3

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 July 2023

5,288

3,000

30,443

38,731

Additions

1,014

-

-

1,014

Disposals

(362)

-

(5,654)

(6,016)

At 30 June 2024

5,940

3,000

24,789

33,729

Depreciation

At 1 July 2023

3,562

1,787

25,022

30,371

Charge for the year

517

303

1,220

2,040

Eliminated on disposal

(360)

-

(5,116)

(5,476)

At 30 June 2024

3,719

2,090

21,126

26,935

Carrying amount

At 30 June 2024

2,221

910

3,663

6,794

At 30 June 2023

1,726

1,213

5,421

8,360

4

Stocks

2024
£

2023
£

Other inventories

1,925

81,608

5

Debtors

Current

2024
£

2023
£

Prepayments

585

809

Other debtors

25,259

67,624

 

25,844

68,433

 

A. C. Fabrications Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

2,421

2,831

Taxation and social security

7,526

2,536

Accruals and deferred income

1,000

941

Other creditors

114,970

117,057

125,917

123,365

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

8

Related party transactions

Transactions with directors

2024

At 1 July 2023
£

Advances to director
£

At 30 June 2024
£

Mr A Crossland

No interest is charged on the loan and there is no fixed date of repayment

116,954

(2,192)

114,763

2023

At 1 July 2022
£

Repayments by director
£

At 30 June 2023
£

Mr A Crossland

No interest is charged on the loan and there is no fixed date of repayment

110,565

6,389

116,954