Company registration number 15204981 (England and Wales)
DOWNFORCE FABRICATION LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
DOWNFORCE FABRICATION LTD
COMPANY INFORMATION
Director
Mr S L Carr
Company number
15204981
Registered office
23 Moat Drive
Drayton Bassett
Tamworth
B78 3UG
Accountants
Jerroms GCN Limited
West Point, Second Floor
Mucklow Office Park
Mucklow Hill
Halesowen
B62 8DY
DOWNFORCE FABRICATION LTD
CONTENTS
Page
Accountants' report
1
Statement of financial position
2 - 3
Notes to the financial statements
4 - 6
DOWNFORCE FABRICATION LTD
REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF DOWNFORCE FABRICATION LTD
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Downforce Fabrication Ltd for the Period ended 31 October 2024 which comprise, the statement of financial position and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the board of directors of Downforce Fabrication Ltd, as a body, in accordance with the terms of our engagement letter dated 20 June 2025. Our work has been undertaken solely to prepare for your approval the financial statements of Downforce Fabrication Ltd and state those matters that we have agreed to state to the board of directors of Downforce Fabrication Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Downforce Fabrication Ltd and its board of directors as a body for our work or for this report.

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

We have not been instructed to carry out an audit or a review of the financial statements of Downforce Fabrication 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 financial statements.

Jerroms GCN Limited
Chartered Certified Accountants
West Point, Second Floor
Mucklow Office Park
Mucklow Hill
Halesowen
B62 8DY
9 July 2025
DOWNFORCE FABRICATION LTD
STATEMENT OF FINANCIAL POSITION
AS AT
31 OCTOBER 2024
31 October 2024
- 2 -
2024
Notes
£
£
Fixed assets
Tangible assets
3
2,393
Current assets
Debtors
4
3,100
Cash at bank and in hand
223
3,323
Creditors: amounts falling due within one year
5
(5,200)
Net current liabilities
(1,877)
Total assets less current liabilities
516
Creditors: amounts falling due after more than one year
6
(122)
Net assets
394
Capital and reserves
Called up share capital
7
1
Profit and loss reserves
393
Total equity
394
DOWNFORCE FABRICATION LTD
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 OCTOBER 2024
31 October 2024
- 3 -

For the financial Period ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 9 July 2025
Mr S L Carr
Director
Company registration number 15204981 (England and Wales)
DOWNFORCE FABRICATION LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024
- 4 -
1
Accounting policies
Company information

Downforce Fabrication Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 23 Moat Drive, Drayton Bassett, Tamworth, B78 3UG.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

 

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% Straight Line
Computers
25% Straight Line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

DOWNFORCE FABRICATION LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.5
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the Period was:

2024
Number
Total
1
DOWNFORCE FABRICATION LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2024
- 6 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 11 October 2023
-
0
Additions
2,919
At 31 October 2024
2,919
Depreciation and impairment
At 11 October 2023
-
0
Depreciation charged in the Period
526
At 31 October 2024
526
Carrying amount
At 31 October 2024
2,393
4
Debtors
2024
Amounts falling due within one year:
£
Other debtors
3,100
5
Creditors: amounts falling due within one year
2024
£
Obligations under finance leases
1,316
Corporation tax
3,284
Accruals and deferred income
600
5,200
6
Creditors: amounts falling due after more than one year
2024
Notes
£
Obligations under finance leases
122
7
Called up share capital
2024
2024
Ordinary share capital
Number
£
Issued and fully paid
of £1 each
1
1
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