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REGISTERED NUMBER: SC625537 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

NORFAB EQUIPMENT LIMITED

NORFAB EQUIPMENT LIMITED (REGISTERED NUMBER: SC625537)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NORFAB EQUIPMENT LIMITED

COMPANY INFORMATION
For The Year Ended 31 March 2025







DIRECTORS: C P Jones
Mrs P A Jones





REGISTERED OFFICE: R A Clement Associates
5 Argyll Square
OBAN
PA34 4AZ





REGISTERED NUMBER: SC625537 (Scotland)





ACCOUNTANTS: R A Clement Associates
5 Argyll Square
OBAN
Argyll
PA34 4AZ

NORFAB EQUIPMENT LIMITED (REGISTERED NUMBER: SC625537)

BALANCE SHEET
31 March 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 19,117 25,395
19,117 25,395

CURRENT ASSETS
Stocks 47,637 2,310
Debtors 6 12,282 20,061
Cash at bank 73,029 80,115
132,948 102,486
CREDITORS
Amounts falling due within one year 7 42,046 48,272
NET CURRENT ASSETS 90,902 54,214
TOTAL ASSETS LESS CURRENT
LIABILITIES

110,019

79,609

PROVISIONS FOR LIABILITIES 3,662 4,855
NET ASSETS 106,357 74,754

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 106,355 74,752
SHAREHOLDERS' FUNDS 106,357 74,754

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

NORFAB EQUIPMENT LIMITED (REGISTERED NUMBER: SC625537)

BALANCE SHEET - continued
31 March 2025


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 18 June 2025 and were signed on its behalf by:





C P Jones - Director


NORFAB EQUIPMENT LIMITED (REGISTERED NUMBER: SC625537)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2025

1. STATUTORY INFORMATION

Norfab Equipment Limited is a private company, limited by shares , registered in Scotland. 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on cost and 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
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 is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

NORFAB EQUIPMENT LIMITED (REGISTERED NUMBER: SC625537)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2025

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 April 2024
and 31 March 2025 1,048
AMORTISATION
At 1 April 2024
and 31 March 2025 1,048
NET BOOK VALUE
At 31 March 2025 -
At 31 March 2024 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2024
and 31 March 2025 2,180 1,116 32,909 36,205
DEPRECIATION
At 1 April 2024 1,963 620 8,227 10,810
Charge for year 33 74 6,171 6,278
At 31 March 2025 1,996 694 14,398 17,088
NET BOOK VALUE
At 31 March 2025 184 422 18,511 19,117
At 31 March 2024 217 496 24,682 25,395

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 11,520 16,408
Other debtors 762 3,653
12,282 20,061

NORFAB EQUIPMENT LIMITED (REGISTERED NUMBER: SC625537)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2025

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade creditors 13,383 8,875
Taxation and social security 18,247 8,135
Other creditors 10,416 31,262
42,046 48,272