Acomb Engineering Limited 03958670 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is that of metal fabrication engineering Digita Accounts Production Advanced 6.30.9574.0 true 03958670 2024-01-01 2024-12-31 03958670 2024-12-31 03958670 core:RetainedEarningsAccumulatedLosses 2024-12-31 03958670 core:ShareCapital 2024-12-31 03958670 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-12-31 03958670 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-12-31 03958670 core:CurrentFinancialInstruments 2024-12-31 03958670 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 03958670 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 03958670 core:FurnitureFittings 2024-12-31 03958670 core:LandBuildings core:OwnedOrFreeholdAssets 2024-12-31 03958670 core:MotorVehicles 2024-12-31 03958670 core:PlantMachinery 2024-12-31 03958670 1 2024-12-31 03958670 bus:SmallEntities 2024-01-01 2024-12-31 03958670 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 03958670 bus:FilletedAccounts 2024-01-01 2024-12-31 03958670 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 03958670 bus:RegisteredOffice 2024-01-01 2024-12-31 03958670 bus:Director1 2024-01-01 2024-12-31 03958670 bus:Director2 2024-01-01 2024-12-31 03958670 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 03958670 core:FurnitureFittings 2024-01-01 2024-12-31 03958670 core:LandBuildings 2024-01-01 2024-12-31 03958670 core:LandBuildings core:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 03958670 core:MotorVehicles 2024-01-01 2024-12-31 03958670 core:PlantMachinery 2024-01-01 2024-12-31 03958670 core:OtherRelatedParties 2024-01-01 2024-12-31 03958670 countries:EnglandWales 2024-01-01 2024-12-31 03958670 1 2024-01-01 2024-12-31 03958670 2023-12-31 03958670 core:FurnitureFittings 2023-12-31 03958670 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 03958670 core:MotorVehicles 2023-12-31 03958670 core:PlantMachinery 2023-12-31 03958670 1 2023-12-31 03958670 2023-01-01 2023-12-31 03958670 2023-12-31 03958670 core:RetainedEarningsAccumulatedLosses 2023-12-31 03958670 core:ShareCapital 2023-12-31 03958670 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-12-31 03958670 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-12-31 03958670 core:CurrentFinancialInstruments 2023-12-31 03958670 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 03958670 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 03958670 core:FurnitureFittings 2023-12-31 03958670 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 03958670 core:MotorVehicles 2023-12-31 03958670 core:PlantMachinery 2023-12-31 iso4217:GBP xbrli:pure

Registration number: 03958670

Acomb Engineering Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Acomb Engineering Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Acomb Engineering Limited

Company Information

Directors

T M Webster

B A Webster

Registered office

Catfoss
Hull
East Yorkshire
HU11 5SP

 

Acomb Engineering Limited

(Registration number: 03958670)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

826,676

743,877

Current assets

 

Stocks

5

51,580

42,445

Debtors

6

1,654,702

1,804,422

Cash at bank and in hand

 

1,961,208

1,733,836

 

3,667,490

3,580,703

Creditors: Amounts falling due within one year

7

(298,219)

(349,248)

Net current assets

 

3,369,271

3,231,455

Total assets less current liabilities

 

4,195,947

3,975,332

Creditors: Amounts falling due after more than one year

7

(87,152)

-

Provisions for liabilities

(125,219)

(102,580)

Net assets

 

3,983,576

3,872,752

Capital and reserves

 

Called up share capital

100

100

Retained earnings

3,983,476

3,872,652

Shareholders' funds

 

3,983,576

3,872,752

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.

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 21 June 2025 and signed on its behalf by:
 

.........................................
T M Webster
Director

 

Acomb Engineering Limited

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 and Wales and the company registration number is 03958670.

The address of its registered office is:
Catfoss
Hull
East Yorkshire
HU11 5SP

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.

The financial statements are presented in sterling and are rounded to the nearest pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of metal fabrication engineering 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 tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

 

Acomb Engineering Limited

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


Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Tangible assets

Tangible assets are stated in the statement of financial position 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.

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the profit and loss account.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss has been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in the profit and loss account.

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

Land and buildings

2% on cost

Plant and machinery

20% on written down value

Fixtures and fittings

20% on written down value

Motor vehicles

25% on written down value

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 the provision of services in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. 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.

 

Acomb Engineering Limited

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

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.

Borrowings

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 are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Acomb Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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 Directors) during the year, was 13 (2023 - 13).

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

387,687

26,814

557,639

340,714

1,312,854

Additions

-

-

2,427

187,532

189,959

At 31 December 2024

387,687

26,814

560,066

528,246

1,502,813

Depreciation

At 1 January 2024

54,131

15,153

374,473

125,220

568,977

Charge for the year

7,754

2,666

37,006

59,734

107,160

At 31 December 2024

61,885

17,819

411,479

184,954

676,137

Carrying amount

At 31 December 2024

325,802

8,995

148,587

343,292

826,676

At 31 December 2023

333,556

11,661

183,166

215,494

743,877

Included within the net book value of land and buildings above is £325,802 (2023 - £333,556) in respect of freehold land and buildings.
 

5

Stocks

2024
£

2023
£

Other inventories

51,580

42,445

 

Acomb Engineering Limited

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

6

Debtors

2024
£

2023
£

Trade debtors

413,406

558,089

Prepayments

5,156

5,583

Other debtors

1,236,140

1,240,750

1,654,702

1,804,422

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

6,122

-

Trade creditors

 

223,752

132,554

Taxation and social security

 

63,522

213,390

Accruals and deferred income

 

3,426

3,304

Other creditors

 

1,397

-

 

298,219

349,248

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

87,152

-

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

87,152

-

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

6,122

-


Obligations under hire purchase and lease contracts are secured on the assets to which they relate.

 

Acomb Engineering Limited

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

9

Related party transactions

Transactions with Directors

2024

At 1 January 2024
£

Advances to Director
£

Repayments by Director
£

At 31 December 2024
£

Unsecured, interest free and repayable on demand

40,450

30,890

(40,500)

30,840

 

Other transactions with directors

At the year end, the directors owed the company £30,840 (2023: £40,450). This amount is unsecured, interest free and repayable on demand.

Summary of transactions with other related parties

At the year end, the company was owed £1,200,000 (2023: £1,200,000) from Webster Property Holdings Limited, a company under the control of T M Webster and B A webster.