Company Registration No. 06048354 (England and Wales)
South Coast Fabrications Limited
Unaudited accounts
for the year ended 31 August 2024
South Coast Fabrications Limited
Unaudited accounts
Contents
South Coast Fabrications Limited
Company Information
for the year ended 31 August 2024
Company Number
06048354 (England and Wales)
Registered Office
Unit 10 Forest Corner Farm
Hangersley
Ringwood
Hampshire
BH24 3JW
Accountants
M. Whittingham Limited
Unit K2 Lion Works
543 Wallisdown Road
Poole
Dorset
BH12 5AD
South Coast Fabrications Limited
Statement of financial position
as at 31 August 2024
Tangible assets
5,858
7,474
Cash at bank and in hand
1,813
21,990
Creditors: amounts falling due within one year
(117,224)
(84,910)
Net current assets
329,455
305,087
Total assets less current liabilities
335,313
312,561
Creditors: amounts falling due after more than one year
(8,333)
(18,333)
Provisions for liabilities
Deferred tax
(1,113)
(1,420)
Net assets
325,867
292,808
Called up share capital
4
4
Profit and loss account
325,863
292,804
Shareholders' funds
325,867
292,808
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 22 May 2025 and were signed on its behalf by
J S Singh
Director
Company Registration No. 06048354
South Coast Fabrications Limited
Notes to the Accounts
for the year ended 31 August 2024
South Coast Fabrications Limited is a private company, limited by shares, registered in England and Wales, registration number 06048354. The registered office is Unit 10 Forest Corner Farm, Hangersley, Ringwood, Hampshire, BH24 3JW.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
25% reducing balance
Computer equipment
25% reducing balane
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 items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
South Coast Fabrications Limited
Notes to the Accounts
for the year ended 31 August 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 September 2023
78,307
18,750
795
17,640
115,492
At 31 August 2024
78,307
18,750
795
17,640
115,492
At 1 September 2023
73,250
16,968
752
17,048
108,018
Charge for the year
1,011
446
11
148
1,616
At 31 August 2024
74,261
17,414
763
17,196
109,634
At 31 August 2024
4,046
1,336
32
444
5,858
At 31 August 2023
5,057
1,782
43
592
7,474
Amounts falling due within one year
Trade debtors
413,410
336,151
Accrued income and prepayments
3,404
1,599
Other debtors
22,620
22,620
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
10,000
10,000
Trade creditors
34,587
24,088
Taxes and social security
11,210
1,112
7
Creditors: amounts falling due after more than one year
2024
2023
Allotted, called up and fully paid:
4 Ordinary shares of £1 each
4
4
South Coast Fabrications Limited
Notes to the Accounts
for the year ended 31 August 2024
9
Transactions with related parties
During the period net sales of £221,491 were made to Sinbar Associates Limited who own 100% of the share capital in the company.
10
Average number of employees
During the year the average number of employees was 2 (2023: 2).