Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-302true2023-07-01falseFabrications2trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11422240 2023-07-01 2024-06-30 11422240 2022-07-01 2023-06-30 11422240 2024-06-30 11422240 2023-06-30 11422240 c:Director1 2023-07-01 2024-06-30 11422240 d:PlantMachinery 2023-07-01 2024-06-30 11422240 d:PlantMachinery 2024-06-30 11422240 d:PlantMachinery 2023-06-30 11422240 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 11422240 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-07-01 2024-06-30 11422240 d:MotorVehicles 2023-07-01 2024-06-30 11422240 d:MotorVehicles 2024-06-30 11422240 d:MotorVehicles 2023-06-30 11422240 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 11422240 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-07-01 2024-06-30 11422240 d:OtherPropertyPlantEquipment 2023-07-01 2024-06-30 11422240 d:OtherPropertyPlantEquipment 2024-06-30 11422240 d:OtherPropertyPlantEquipment 2023-06-30 11422240 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 11422240 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2023-07-01 2024-06-30 11422240 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 11422240 d:LeasedAssetsHeldAsLessee 2023-07-01 2024-06-30 11422240 d:CurrentFinancialInstruments 2024-06-30 11422240 d:CurrentFinancialInstruments 2023-06-30 11422240 d:Non-currentFinancialInstruments 2024-06-30 11422240 d:Non-currentFinancialInstruments 2023-06-30 11422240 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 11422240 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 11422240 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 11422240 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 11422240 d:ShareCapital 2024-06-30 11422240 d:ShareCapital 2023-06-30 11422240 d:RetainedEarningsAccumulatedLosses 2024-06-30 11422240 d:RetainedEarningsAccumulatedLosses 2023-06-30 11422240 d:AcceleratedTaxDepreciationDeferredTax 2024-06-30 11422240 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 11422240 d:TaxLossesCarry-forwardsDeferredTax 2024-06-30 11422240 d:TaxLossesCarry-forwardsDeferredTax 2023-06-30 11422240 c:OrdinaryShareClass1 2023-07-01 2024-06-30 11422240 c:OrdinaryShareClass1 2024-06-30 11422240 c:OrdinaryShareClass1 2023-06-30 11422240 c:FRS102 2023-07-01 2024-06-30 11422240 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 11422240 c:FullAccounts 2023-07-01 2024-06-30 11422240 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 11422240 d:HirePurchaseContracts d:WithinOneYear 2024-06-30 11422240 d:HirePurchaseContracts d:WithinOneYear 2023-06-30 11422240 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-06-30 11422240 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-06-30 11422240 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2024-06-30 11422240 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-06-30 11422240 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-06-30 11422240 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-06-30 11422240 d:LeasedAssetsHeldAsLessee 2024-06-30 11422240 d:LeasedAssetsHeldAsLessee 2023-06-30 11422240 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 11422240










HYWEL EVANS FABRICATIONS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
HYWEL EVANS FABRICATIONS LIMITED
REGISTERED NUMBER: 11422240

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
119,465
109,546

  
119,465
109,546

Current assets
  

Stocks
 6 
190,000
173,200

Debtors: amounts falling due within one year
 7 
175,658
138,478

Cash at bank and in hand
 8 
152,652
148,051

  
518,310
459,729

Creditors: amounts falling due within one year
 9 
(239,324)
(238,955)

Net current assets
  
 
 
278,986
 
 
220,774

Total assets less current liabilities
  
398,451
330,320

Creditors: amounts falling due after more than one year
 10 
(98,877)
(92,171)

Provisions for liabilities
  

Deferred tax
 12 
(22,458)
(18,432)

  
 
 
(22,458)
 
 
(18,432)

Net assets
  
277,116
219,717


Capital and reserves
  

Called up share capital 
 13 
100
100

Profit and loss account
  
277,016
219,617

  
277,116
219,717


Page 1

 
HYWEL EVANS FABRICATIONS LIMITED
REGISTERED NUMBER: 11422240
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 March 2025.




T H Evans
Director

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
HYWEL EVANS FABRICATIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Hywel Evans Fabrications Limited, 11422240, is a private company limited by shares, incorporated in England and Wales, with its registered office and principal place of business at Hafodwen, Old Hall, Llanidloes, Powys, United Kingdom, SY18 6PW.
The principal activity of the Company is the purchase and sale of machinery.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
HYWEL EVANS FABRICATIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.3

Revenue

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. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
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.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
HYWEL EVANS FABRICATIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

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

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as below.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
reducing balance
Motor vehicles
-
25%
reducing balance
Tenants improvements
-
10%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
HYWEL EVANS FABRICATIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 6

 
HYWEL EVANS FABRICATIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

3.


Judgements in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations or future events that are believed to be reasonable under the circumstances.
The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. In the opinion of the directors there are no estimates nor assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.


4.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 7

 
HYWEL EVANS FABRICATIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Tenants improvements
Total

£
£
£
£



Cost or valuation


At 1 July 2023
102,786
36,495
48,318
187,599


Additions
27,850
-
23,887
51,737


Disposals
(16,000)
(16,995)
-
(32,995)



At 30 June 2024

114,636
19,500
72,205
206,341



Depreciation


At 1 July 2023
47,811
20,081
10,161
78,053


Charge for the year on owned assets
10,743
1,714
7,221
19,678


Charge for the year on financed assets
580
-
-
580


Disposals
(4,000)
(7,435)
-
(11,435)



At 30 June 2024

55,134
14,360
17,382
86,876



Net book value



At 30 June 2024
59,502
5,140
54,823
119,465



At 30 June 2023
54,975
16,414
38,157
109,546

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Plant and machinery
27,270
-

Motor vehicles
-
9,560

27,270
9,560

Page 8

 
HYWEL EVANS FABRICATIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


Stocks

2024
2023
£
£

Finished goods and goods for resale
190,000
173,200

190,000
173,200



7.


Debtors

2024
2023
£
£


Trade debtors
160,092
137,645

Prepayments and accrued income
15,566
833

175,658
138,478



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
152,652
148,051

152,652
148,051


Page 9

 
HYWEL EVANS FABRICATIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
87,497
107,396

Corporation tax
22,138
31,855

Other taxation and social security
38,050
37,732

Obligations under finance lease and hire purchase contracts
9,755
4,150

Other creditors
79,536
55,585

Accruals and deferred income
2,348
2,237

239,324
238,955


The following liabilities were secured:

2024
2023
£
£



Obligations under finance lease and hire purchase contracts
9,755
4,150

9,755
4,150

Details of security provided:

Hire purchase liabilities are secured upon the assets to which they relate.

Page 10

 
HYWEL EVANS FABRICATIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
8,877
2,171

Other creditors
90,000
90,000

98,877
92,171


The following liabilities were secured:

2024
2023
£
£



Net obligations under finance leases and hire purchase contracts
8,877
2,171

8,877
2,171

Details of security provided:

Hire purchase liabilities are secured upon the assets to which they relate.


11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
9,755
4,150

Between 1-2 years
8,877
2,171

18,632
6,321

Page 11

 
HYWEL EVANS FABRICATIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

12.


Deferred taxation




2024


£






At beginning of year
18,432


Charged to profit or loss
4,026



At end of year
22,458

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
22,476
18,449

Short  term timing differences
(18)
(17)

22,458
18,432


13.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



14.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £723 (2023: £765). Contributions totalling £169 (2023: £153) were payable to the fund at the balance sheet date and are included in creditors.

 
Page 12