Registered number
12159533
Weldcraft Midlands Ltd
Filleted Accounts
31 August 2024
Weldcraft Midlands Ltd
Registered number: 12159533
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 22,844 30,459
Current assets
Debtors 4 49,486 55,669
Cash at bank and in hand 28,037 20,804
77,523 76,473
Creditors: amounts falling due within one year 5 (17,753) (17,953)
Net current assets 59,770 58,520
Total assets less current liabilities 82,614 88,979
Creditors: amounts falling due after more than one year 6 (10,850) (15,050)
Net assets 71,764 73,929
Capital and reserves
Called up share capital 1 1
Profit and loss account 71,763 73,928
Shareholders' funds 71,764 73,929
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
James Haywood
Director
Approved by the board on 27 May 2025
Weldcraft Midlands Ltd
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 September 2023 26,878 28,995 55,873
At 31 August 2024 26,878 28,995 55,873
Depreciation
At 1 September 2023 11,498 13,916 25,414
Charge for the year 3,845 3,770 7,615
At 31 August 2024 15,343 17,686 33,029
Net book value
At 31 August 2024 11,535 11,309 22,844
At 31 August 2023 15,380 15,079 30,459
4 Debtors 2024 2023
£ £
Trade debtors 42,465 55,482
Other debtors 7,021 187
49,486 55,669
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 17,103 17,217
Directors Loan Account - 176
Other creditors 650 560
17,753 17,953
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 10,850 15,050
7 Other information
Weldcraft Midlands Ltd is a private company limited by shares and incorporated in England. Its registered office is:
40 Dale Street
Ilkeston
Derbyshire
DE7 5NQ
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