Chris Taylor Fabrications Limited 11229762 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is steel fabrication. Digita Accounts Production Advanced 6.30.9574.0 true 11229762 2023-10-01 2024-09-30 11229762 2024-09-30 11229762 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2024-09-30 11229762 core:CurrentFinancialInstruments 2024-09-30 11229762 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 11229762 core:FurnitureFittingsToolsEquipment 2024-09-30 11229762 core:OtherRelatedParties 2024-09-30 11229762 core:ParentEntities 2024-09-30 11229762 bus:SmallEntities 2023-10-01 2024-09-30 11229762 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 11229762 bus:FilletedAccounts 2023-10-01 2024-09-30 11229762 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 11229762 bus:RegisteredOffice 2023-10-01 2024-09-30 11229762 bus:Director1 2023-10-01 2024-09-30 11229762 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-10-01 2024-09-30 11229762 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 11229762 core:FurnitureFittings 2023-10-01 2024-09-30 11229762 core:OtherRelatedParties 2023-10-01 2024-09-30 11229762 core:ParentEntities 2023-10-01 2024-09-30 11229762 countries:EnglandWales 2023-10-01 2024-09-30 11229762 2023-09-30 11229762 core:FurnitureFittingsToolsEquipment 2023-09-30 11229762 core:OtherRelatedParties 2023-09-30 11229762 core:ParentEntities 2023-09-30 11229762 2022-10-01 2023-09-30 11229762 2023-09-30 11229762 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-09-30 11229762 core:CurrentFinancialInstruments 2023-09-30 11229762 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 11229762 core:OtherRelatedParties 2023-09-30 11229762 core:ParentEntities 2023-09-30 11229762 core:OtherRelatedParties 2022-10-01 2023-09-30 11229762 2022-09-30 11229762 core:OtherRelatedParties 2022-09-30 11229762 core:ParentEntities 2022-09-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 11229762

Chris Taylor Fabrications Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Chris Taylor Fabrications Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Chris Taylor Fabrications Limited

Company Information

Director

Mr Christopher Taylor

Registered office

403 Bradford Road
Batley
West Yorkshire
WF17 5LY

 

Chris Taylor Fabrications Limited

(Registration number: 11229762)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Current assets

 

Stocks

5

2,104

1,000

Debtors

6

20,485

17,242

Cash at bank and in hand

 

9,049

3,583

 

31,638

21,825

Creditors: Amounts falling due within one year

7

(20,657)

(12,590)

Net assets

 

10,981

9,235

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

10,881

9,135

Shareholders' funds

 

10,981

9,235

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 12 June 2025
 

.........................................
Mr Christopher Taylor
Director

 

Chris Taylor Fabrications Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

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

The address of its registered office is:
403 Bradford Road
Batley
West Yorkshire
WF17 5LY
England

These financial statements were authorised for issue by the director on 12 June 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.

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.

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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.

 

Chris Taylor Fabrications Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 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

Furniture and fittings

20% straight line basis

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.

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.

 

Chris Taylor Fabrications Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

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 the director) during the year, was 1 (2023 - 1).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 October 2023

470

470

At 30 September 2024

470

470

Depreciation

At 1 October 2023

470

470

At 30 September 2024

470

470

Carrying amount

At 30 September 2024

-

-

5

Stocks

2024
£

2023
£

Work in progress

2,104

1,000

 

Chris Taylor Fabrications Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

20,485

14,177

Amounts owed by related parties

10

-

100

Other debtors

 

-

2,965

   

20,485

17,242

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

10

16,973

9,590

Taxation and social security

 

2,684

-

Accruals and deferred income

 

1,000

3,000

 

20,657

12,590

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of guarantees not included in the balance sheet is £580,087 (2023 - £698,656). The Company, in common with its parent company, Advanced Technology Manufacturing Limited, and all its fellow subsidiaries, has provided a guarantee and legal mortgage to cover all present and future debts due by group companies to HSBC UK Bank plc, which at 30 September 2023 amounted to £580,087 (2023 - £698,656).

 

Chris Taylor Fabrications Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

10

Related party transactions

Loans to related parties

2024

Parent
£

Total
£

At start of period

100

100

Repaid

(100)

(100)

At end of period

-

-

2023

Parent
£

Total
£

At start of period

100

100

At end of period

100

100

Terms of loans to related parties

During the period the company repaid a non interest bearing loan from its parent, Advanced Technology Manufacturing Limited.
 

Loans from related parties

2024

Other related parties
£

Total
£

At start of period

9,590

9,590

Advanced

7,383

7,383

At end of period

16,973

16,973

2023

Other related parties
£

Total
£

At start of period

1,206

1,206

Advanced

8,384

8,384

At end of period

9,590

9,590

Terms of loans from related parties

During the period the company continued to receive non interest bearing loans from its fellow subsidiaries, Walker & Smith Limited and Advanced Technology Cutting Limited.