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REGISTERED NUMBER: 10898125 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

Finest Fabrication Ltd

Finest Fabrication Ltd (Registered number: 10898125)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Finest Fabrication Ltd

Company Information
for the Year Ended 31 August 2024







DIRECTORS: S L Barnes
A Barnes
C Bluck





SECRETARY: S L Barnes





REGISTERED OFFICE: Unit 1 Barfore Court
St Clements Road
Birmingham
B7 5AF





REGISTERED NUMBER: 10898125 (England and Wales)





ACCOUNTANTS: Clover Chartered Certified Accountants
6 Trinity Place
Midland Drive
Sutton Coldfield
West Midlands
B72 1TX

Finest Fabrication Ltd (Registered number: 10898125)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 206,985 211,358

CURRENT ASSETS
Debtors 5 549,366 659,283
Cash at bank 437,411 238,821
986,777 898,104
CREDITORS
Amounts falling due within one year 6 (269,456 ) (347,724 )
NET CURRENT ASSETS 717,321 550,380
TOTAL ASSETS LESS CURRENT
LIABILITIES

924,306

761,738

CREDITORS
Amounts falling due after more than one
year

7

(134,824

)

(141,943

)
NET ASSETS 789,482 619,795

CAPITAL AND RESERVES
Called up share capital 8 82 100
Retained earnings 789,400 619,695
SHAREHOLDERS' FUNDS 789,482 619,795

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

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

Finest Fabrication Ltd (Registered number: 10898125)

Balance Sheet - continued
31 August 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 Board of Directors and authorised for issue on 30 September 2024 and were signed on its behalf by:




S L Barnes - Director C Bluck - Director




A Barnes - Director


Finest Fabrication Ltd (Registered number: 10898125)

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

1. STATUTORY INFORMATION

Finest 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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 20% on cost

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Finest Fabrication Ltd (Registered number: 10898125)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 20 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2023 377,103
Additions 65,918
At 31 August 2024 443,021
DEPRECIATION
At 1 September 2023 165,745
Charge for year 70,291
At 31 August 2024 236,036
NET BOOK VALUE
At 31 August 2024 206,985
At 31 August 2023 211,358

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 September 2023 199,640
Additions 45,600
At 31 August 2024 245,240
DEPRECIATION
At 1 September 2023 30,821
Charge for year 42,938
At 31 August 2024 73,759
NET BOOK VALUE
At 31 August 2024 171,481
At 31 August 2023 168,819

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 348,944 457,158
Other debtors 200,422 202,125
549,366 659,283

Finest Fabrication Ltd (Registered number: 10898125)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts 17,500 27,500
Hire purchase contracts 46,707 41,467
Trade creditors 60,998 123,996
Taxation and social security 140,392 154,761
Other creditors 3,859 -
269,456 347,724

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Hire purchase contracts 134,824 141,943

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
100 Ordinary 1 82 100