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Registration number: 13509329

AAA Fabrications Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

AAA Fabrications Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 10

 

AAA Fabrications Ltd

Company Information

Directors

Miss V Edwards

Mr C Newton

Ms V Heardman

Company secretary

Miss V Edwards

Registered office

Unit 8, Monmore Business Park
Dixon St
Wolverhampton
West Midlands
WV2 2BT

Accountants

Mr Colin Barrett
Shop 2, 130 Hagley Road
Hayley Green
Halesowen
West Midlands
B63 1DY

 

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
AAA Fabrications Ltd
for the Year Ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of AAA Fabrications Ltd for the year ended 31 December 2024 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

As practising members of the Association of Accounting Technicians, we are subject to its ethical and other professional requirements which are detailed at www.aat.org.uk/about-aat/professional-ethics

This report is made solely to the Board of Directors of AAA Fabrications Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of AAA Fabrications Ltd and state those matters that we have agreed to state to the Board of Directors of AAA Fabrications Ltd, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than AAA Fabrications Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that AAA Fabrications Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of AAA Fabrications Ltd. You consider that AAA Fabrications Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of AAA Fabrications Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Mr Colin Barrett
Shop 2, 130 Hagley Road
Hayley Green
Halesowen
West Midlands
B63 1DY

29 May 2025

 

AAA Fabrications Ltd

(Registration number: 13509329)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

77,747

47,697

Current assets

 

Stocks

5

111,985

112,052

Debtors

6

312,676

286,630

Cash at bank and in hand

 

68,904

30,072

 

493,565

428,754

Creditors: Amounts falling due within one year

7

(353,437)

(340,807)

Net current assets

 

140,128

87,947

Total assets less current liabilities

 

217,875

135,644

Creditors: Amounts falling due after more than one year

7

(190,549)

(190,549)

Net assets/(liabilities)

 

27,326

(54,905)

Capital and reserves

 

Called up share capital

8

120

120

Retained earnings

27,206

(55,025)

Shareholders' funds/(deficit)

 

27,326

(54,905)

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

AAA Fabrications Ltd

(Registration number: 13509329)
Balance Sheet as at 31 December 2024

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 May 2025 and signed on its behalf by:
 

.........................................
Miss V Edwards
Company secretary and director

 

AAA Fabrications Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit 8, Monmore Business Park
Dixon St
Wolverhampton
West Midlands
WV2 2BT

These financial statements were authorised for issue by the Board on 29 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

AAA Fabrications Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and Machinery

25% straight line

Office Equipment

33% reducing balance

Fixtures and Fittings

15% straight line

Fixtures and Fittings

25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

AAA Fabrications Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 20 (2023 - 17).

 

AAA Fabrications Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2024

47,007

26,631

73,638

Additions

27,296

28,221

55,517

At 31 December 2024

74,303

54,852

129,155

Depreciation

At 1 January 2024

14,898

11,043

25,941

Charge for the year

15,714

9,753

25,467

At 31 December 2024

30,612

20,796

51,408

Carrying amount

At 31 December 2024

43,691

34,056

77,747

At 31 December 2023

32,109

15,588

47,697

5

Stocks

2024
£

2023
£

Raw materials and consumables

23,526

23,899

Work in progress

88,459

88,153

111,985

112,052

6

Debtors

Current

2024
£

2023
£

Trade debtors

236,646

217,067

Prepayments

23,888

20,923

Other debtors

52,142

48,640

 

312,676

286,630

 

AAA Fabrications Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

230,660

222,396

Taxation and social security

119,027

104,873

Other creditors

3,750

13,538

353,437

340,807

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

190,549

190,549

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary share of £1 each

120

120

120

120

       
 

AAA Fabrications Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

190,549

190,549

10

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

112,838

117,458

Contributions paid to money purchase schemes

2,395

2,375

115,233

119,833