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REGISTERED NUMBER: 03740835 (England and Wales)










Financial Statements

for the Year Ended 31 May 2024

for

Three G Metal Fabrications Ltd

Three G Metal Fabrications Ltd (Registered number: 03740835)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Three G Metal Fabrications Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTOR: G Bains





SECRETARY: Mrs S Bains





REGISTERED OFFICE: 2 Selbury Drive
Oadby
Leicester
Leicestershire
LE2 5NG





REGISTERED NUMBER: 03740835 (England and Wales)






Three G Metal Fabrications Ltd (Registered number: 03740835)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £   
Fixed assets
Tangible assets 4 218,388 291,185

Current assets
Stocks 809,786 680,540
Debtors 5 1,300,235 1,044,498
Cash at bank and in hand 8,290 12,017
2,118,311 1,737,055
Creditors
Amounts falling due within one year 6 1,779,083 1,350,108
Net current assets 339,228 386,947
Total assets less current liabilities 557,616 678,132

Creditors
Amounts falling due after more than one
year

7

(104,707

)

(212,445

)

Provisions for liabilities 9 (24,868 ) (38,668 )
Net assets 428,041 427,019

Capital and reserves
Called up share capital 100 100
Retained earnings 427,941 426,919
428,041 427,019

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

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

Three G Metal Fabrications Ltd (Registered number: 03740835)

Balance Sheet - continued
31 May 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 April 2025 and were signed by:





G Bains - Director


Three G Metal Fabrications Ltd (Registered number: 03740835)

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


1. Statutory information

Three G Metal Fabrications Ltd 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
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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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 Income Statement, 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Three G Metal Fabrications Ltd (Registered number: 03740835)

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


2. Accounting policies - continued

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 15 (2023 - 18 ) .

4. Tangible fixed assets
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
Cost
At 1 June 2023
and 31 May 2024 807,641 65,161 18,250 891,052
Depreciation
At 1 June 2023 527,026 57,571 15,270 599,867
Charge for year 70,154 1,898 745 72,797
At 31 May 2024 597,180 59,469 16,015 672,664
Net book value
At 31 May 2024 210,461 5,692 2,235 218,388
At 31 May 2023 280,615 7,590 2,980 291,185

5. Debtors: amounts falling due within one year
31.5.24 31.5.23
£    £   
Trade debtors 506,865 585,537
Other debtors 793,370 458,961
1,300,235 1,044,498

6. Creditors: amounts falling due within one year
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 235,298 187,409
Trade creditors 162,980 123,784
Taxation and social security 118,523 69,722
Other creditors 1,262,282 969,193
1,779,083 1,350,108

Three G Metal Fabrications Ltd (Registered number: 03740835)

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


7. Creditors: amounts falling due after more than one year
31.5.24 31.5.23
£    £   
Bank loans - 57,910
Other creditors 104,707 154,535
104,707 212,445

8. Secured debts

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Bank overdrafts 175,256 155,271
Hire Purchase Creditors 154,376 204,204
329,632 359,475

Bank Loans & Overdraft includes security of £329,632 ( 2023 £359,475).

The Finance leases are secured on the assets concerned.

9. Provisions for liabilities
31.5.24 31.5.23
£    £   
Deferred tax 24,868 38,668

Deferred
tax
£   
Balance at 1 June 2023 38,668
Credit to Income Statement during year (13,800 )
Balance at 31 May 2024 24,868

10. Related party disclosures

During the year dividends of £ Nil ( 2023 £40,000 ) were paid to the shareholders.)

The company trades from freehold premises owned by the director and his wife; Rent amounting to £35,000 was paid during the year.

The director also controls LDS Hire & Sales Limited which trades from the same premises as the company; An administration and Overheads charge was made to LDS Hire & Sales Ltd in the sum of £240,000 for establishment, labour, administration and distribution costs paid on its behalf.

At the year end £1,179,017 ( 2023 £897,610) was owed by the company and is included within Other Creditors..

Three G Metal Fabrications Ltd (Registered number: 03740835)

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


11. Ultimate controlling party

The company is under the control of the director his wife and son who together own 100% of the company's share capital.