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REGISTERED NUMBER: 06921388 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

Severn Fabrications Limited

Severn Fabrications Limited (Registered number: 06921388)

Contents of the Financial Statements
for the Year Ended 31 August 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Severn Fabrications Limited

Company Information
for the Year Ended 31 August 2024







DIRECTOR: G S Morris





REGISTERED OFFICE: Cross Chambers
9 High Street
Newtown
Powys
SY16 2NY





REGISTERED NUMBER: 06921388 (England and Wales)





ACCOUNTANTS: Morgan Griffiths LLP
Chartered Accountants
Cross Chambers
9 High Street
Newtown
Powys
SY16 2NY

Severn Fabrications Limited (Registered number: 06921388)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 89,378 43,021

CURRENT ASSETS
Stocks 14,900 30,000
Debtors 5 331,109 116,010
Cash at bank 289,454 330,426
635,463 476,436
CREDITORS
Amounts falling due within one year 6 391,071 277,336
NET CURRENT ASSETS 244,392 199,100
TOTAL ASSETS LESS CURRENT
LIABILITIES

333,770

242,121

CREDITORS
Amounts falling due after more than one
year

7

(31,455

)

(36,217

)

PROVISIONS FOR LIABILITIES (22,345 ) (8,174 )
NET ASSETS 279,970 197,730

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 279,968 197,728
279,970 197,730

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Severn Fabrications Limited (Registered number: 06921388)

Balance Sheet - continued
31 August 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 director and authorised for issue on 22 January 2025 and were signed by:





G S Morris - Director


Severn Fabrications Limited (Registered number: 06921388)

Notes to the Financial Statements
for the Year Ended 31 August 2024


1. STATUTORY INFORMATION

Severn 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.

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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on cost and 10% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Severn Fabrications Limited (Registered number: 06921388)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024


2. ACCOUNTING POLICIES - continued

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 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2023 293,440
Additions 90,004
Disposals (57,344 )
At 31 August 2024 326,100
DEPRECIATION
At 1 September 2023 250,419
Charge for year 43,647
Eliminated on disposal (57,344 )
At 31 August 2024 236,722
NET BOOK VALUE
At 31 August 2024 89,378
At 31 August 2023 43,021

Severn Fabrications Limited (Registered number: 06921388)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 September 2023 83,994
Additions 42,741
Disposals (36,994 )
At 31 August 2024 89,741
DEPRECIATION
At 1 September 2023 60,494
Charge for year 22,435
Eliminated on disposal (36,994 )
At 31 August 2024 45,935
NET BOOK VALUE
At 31 August 2024 43,806
At 31 August 2023 23,500

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 280,726 75,006
Other debtors 50,383 41,004
331,109 116,010

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 12,692 5,400
Trade creditors 297,266 164,453
Taxation and social security 42,471 28,718
Other creditors 28,642 68,765
391,071 277,336

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Bank loans 14,167 24,167
Hire purchase contracts 17,288 12,050
31,455 36,217