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REGISTERED NUMBER: 04167662 (England and Wales)

































Unaudited Financial Statements

For The Year Ended

30 August 2024

for

TOTAL STEELWORK & FABRICATION LTD

TOTAL STEELWORK & FABRICATION LTD (REGISTERED NUMBER: 04167662)






Contents of the Financial Statements
For The Year Ended 30 August 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


TOTAL STEELWORK & FABRICATION LTD

Company Information
For The Year Ended 30 August 2024







DIRECTORS: Mr Michael Lomax
Mrs Catherine Sarah Lomax
Mr Matthew Lomax
Mr Matthew Philip Burgess





SECRETARY: Mr Michael Lomax





REGISTERED OFFICE: Unit 3-5 Causeway Works
Palatine Industrial Estate
Causeway Avenue
Warrington
Cheshire
WA5 6AB





REGISTERED NUMBER: 04167662 (England and Wales)





ACCOUNTANTS: Leavitt Walmsley Associates Limited
Chartered Certified Accountants
8 Eastway
Sale
Cheshire
M33 4DX

TOTAL STEELWORK & FABRICATION LTD (REGISTERED NUMBER: 04167662)

Abridged Balance Sheet
30 August 2024

30.8.24 30.8.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 755,236 845,304

CURRENT ASSETS
Stocks 745,647 698,251
Debtors 1,682,388 1,687,014
Cash at bank 968,056 293,899
3,396,091 2,679,164
CREDITORS
Amounts falling due within one year 2,192,241 1,719,006
NET CURRENT ASSETS 1,203,850 960,158
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,959,086

1,805,462

PROVISIONS FOR LIABILITIES 61,502 98,445
NET ASSETS 1,897,584 1,707,017

CAPITAL AND RESERVES
Called up share capital 5 5
Capital redemption reserve 5 5
Other reserves (8 ) (8 )
Retained earnings 1,897,582 1,707,015
SHAREHOLDERS' FUNDS 1,897,584 1,707,017

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

TOTAL STEELWORK & FABRICATION LTD (REGISTERED NUMBER: 04167662)

Abridged Balance Sheet - continued
30 August 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 August 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 May 2025 and were signed on its behalf by:





Mr Michael Lomax - Director


TOTAL STEELWORK & FABRICATION LTD (REGISTERED NUMBER: 04167662)

Notes to the Financial Statements
For The Year Ended 30 August 2024

1. STATUTORY INFORMATION

Total Steelwork & Fabrication 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 the provisions of FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
The company's policy of revenue recognition is to recognise a sale when the contractual obligations to the customer have been fulfilled. For contracts where obligations to the customer have not been fulfilled, but have been invoiced the sale is recognised within deferred income in current liabilities until such time a right to consideration arises.

The total turnover of the company for the year has been derived from its principal activity wholly undertaken within the United Kingdom.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold - 20% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs which are directly attributable in bringing the asset to its location and condition so that it is capable of operating in the manner intended by management.

Profits and losses on the disposal of fixed assets are included in the calculation of profit for the year.

The directors assess the company's tangible assets for evidence of impairment at each reporting date. Where there are indicators of impairment, the directors calculate recoverable amount of the asset(s) and compare this with the carrying amount. If recoverable amount is lower than carrying amount, the asset is written down to recoverable amount by way of an impairment loss which is recognised in profit or loss for the year. Impairment losses are reversed when there is evidence that the reasons giving rise to the original impairment loss have ceased to apply. Impairment losses are reversed through profit and loss, but only to the extent that the reversal does not increase the carrying amount of the asset to the amount which would have been stated, net of depreciation, had no impairment loss been recognised.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, freight, irrecoverable taxes and costs of conversion and other directly attributable costs which are incurred by the entity in bringing the stock to its present location and condition. The cost methodology employed by the entity is the first-in first-out method.

Work in progress is valued at the lower of cost and estimated selling price less costs to complete and sell.

Cost is calculated based on the charge-out rates of the staff and an estimate of other costs likely to be incurred in completing the transaction. Work in progress represents amounts which cannot be billed due to failing to meet the revenue recognition criteria in FRS 102.

TOTAL STEELWORK & FABRICATION LTD (REGISTERED NUMBER: 04167662)

Notes to the Financial Statements - continued
For The Year Ended 30 August 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
A financial asset or financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit or loss. All other investments are subsequently measured at cost less impairment.

Debtors and creditors which fall due within one year are recorded in the financial statements at transaction price and subsequently measured at amortised cost. If the effects of the time value of money are immaterial, they are measured at cost (less impairment for trade debtors). Debtors are reviewed for impairment at each reporting date and any impairments are recorded in profit or loss and shown within administrative expenses when there is objective evidence that a debtor is impaired. Objective evidence that a debtor is impaired arises when the customer is unable to settle amounts owing to the company or the customer becomes bankrupt.

Debtors do not carry interest and are stated at their nominal value.

Trade creditors are not interest-bearing and are stated at their nominal value.

Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset which exceeds what the carrying amount would have been had the impairment loss not previously been recognised.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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. Deferred tax is calculated using timing difference plus approach.

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.

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.

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.

Investments
Investments which have an observable market price are initially recognised at cost, excluding transaction costs, and are measured at fair value at each reporting date. Observable market prices are obtained from the stock exchange.

Changes in fair value since the previous reporting date are recognised in profit and loss in accordance with Section 11 ‘Basic Financial Instruments’ in FRS 102.

TOTAL STEELWORK & FABRICATION LTD (REGISTERED NUMBER: 04167662)

Notes to the Financial Statements - continued
For The Year Ended 30 August 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2023 - 33 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 31 August 2023 1,605,239
Additions 81,406
Disposals (14,786 )
At 30 August 2024 1,671,859
DEPRECIATION
At 31 August 2023 759,935
Charge for year 166,893
Eliminated on disposal (10,205 )
At 30 August 2024 916,623
NET BOOK VALUE
At 30 August 2024 755,236
At 30 August 2023 845,304

5. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.8.24 30.8.23
£    £   
Within one year 65,347 94,415
Between one and five years 21,373 55,594
86,720 150,009