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Registered number: NI651179
Currie Fabtech Limited
Unaudited Financial Statements
For The Year Ended 30 September 2024
Gray + Press Accountants
21 Old Channel Road
Unit 4A Channel Wharf
Belfast
Antrim
BT3 9DE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: NI651179
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 286,874 391,374
Tangible Assets 5 1,506,982 1,627,987
1,793,856 2,019,361
CURRENT ASSETS
Stocks 6 132,256 119,724
Debtors 7 459,598 366,911
Cash at bank and in hand 548,432 478,470
1,140,286 965,105
Creditors: Amounts Falling Due Within One Year 8 (1,273,102 ) (1,566,211 )
NET CURRENT ASSETS (LIABILITIES) (132,816 ) (601,106 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,661,040 1,418,255
NET ASSETS 1,661,040 1,418,255
CAPITAL AND RESERVES
Called up share capital 3 3
Profit and Loss Account 1,661,037 1,418,252
SHAREHOLDERS' FUNDS 1,661,040 1,418,255
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Page 2
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr John Currie
Director
09/05/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
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Notes to the Financial Statements
1. General Information
Currie Fabtech Limited is a private company, limited by shares, incorporated in Northern Ireland, registered number NI651179 . The registered office is 45a Dullaghy Road, Garvagh , Coleraine, BT51 5PB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 20% Straight Line
Plant & Machinery 10% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 25% Reducing Balance
Computer Equipment 20% Reducing Balance
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
2.7. Research and development
Expenditure on research and development is written off in the year in which it is incurred.
3. Average Number of Employees
18Average number of employees, including directors, during the year was: 18 (2023: 18)
18 18
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4. Intangible Assets
Goodwill
£
Cost
As at 1 October 2023 913,874
As at 30 September 2024 913,874
Amortisation
As at 1 October 2023 522,500
Provided during the period 104,500
As at 30 September 2024 627,000
Net Book Value
As at 30 September 2024 286,874
As at 1 October 2023 391,374
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 October 2023 90,261 2,421,875 29,980 66,561 2,608,677
Additions - 36,163 - 35,294 71,457
As at 30 September 2024 90,261 2,458,038 29,980 101,855 2,680,134
Depreciation
As at 1 October 2023 53,343 871,310 20,494 35,543 980,690
Provided during the period 17,704 158,415 2,372 13,971 192,462
As at 30 September 2024 71,047 1,029,725 22,866 49,514 1,173,152
Net Book Value
As at 30 September 2024 19,214 1,428,313 7,114 52,341 1,506,982
As at 1 October 2023 36,918 1,550,565 9,486 31,018 1,627,987
6. Stocks
2024 2023
£ £
Finished goods 132,256 119,724
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 459,598 366,911
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8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 4,518 14,967
Amounts owed to group undertakings 784,052 816,327
Other creditors 196,944 527,697
Taxation and social security 287,588 207,220
1,273,102 1,566,211
9. Related Party Transactions
The company has availed of the exemption under FRS 102 in relation to the disclosure of transactions with group companies.
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