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REGISTERED NUMBER: SC223907 (Scotland)















Unaudited Financial Statements for the Year Ended 31st October 2024

for

Inverfab Ltd.

Inverfab Ltd. (Registered number: SC223907)

Contents of the Financial Statements
for the year ended 31st October 2024










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Inverfab Ltd.

Company Information
for the year ended 31st October 2024







Directors: G C Blackhurst
J R Blackhurst
M Blackhurst





Secretary: G C Blackhurst





Registered office: 4th Floor Metropolitan House
31-33 High Street
Inverness
IV1 1HT





Registered number: SC223907 (Scotland)





Accountants: Frame Kennedy
4th Floor Metropolitan House
31-33 High Street
Inverness
IV1 1HT

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Inverfab Ltd.


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Inverfab Ltd. for the year ended 31st October 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet 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 ICAS, we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts.

This report is made solely to the Board of Directors of Inverfab Ltd., as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Inverfab Ltd. and state those matters that we have agreed to state to the Board of Directors of Inverfab Ltd., as a body, in this report in accordance with the requirements of ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Inverfab 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 Inverfab Ltd.. You consider that Inverfab 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 financial statements of Inverfab 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.






Frame Kennedy
4th Floor Metropolitan House
31-33 High Street
Inverness
IV1 1HT


14th May 2025

Inverfab Ltd. (Registered number: SC223907)

Balance Sheet
31st October 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 87,121 109,388

Current assets
Stocks 17,761 3,155
Debtors 5 427,855 428,302
Cash at bank 136,104 210,588
581,720 642,045
Creditors
Amounts falling due within one year 6 114,800 167,097
Net current assets 466,920 474,948
Total assets less current liabilities 554,041 584,336

Creditors
Amounts falling due after more than one
year

7

(9,747

)

(23,045

)

Provisions for liabilities (7,198 ) (11,384 )
Net assets 537,096 549,907

Capital and reserves
Called up share capital 100 100
Retained earnings 536,996 549,807
537,096 549,907

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 2024 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.

Inverfab Ltd. (Registered number: SC223907)

Balance Sheet - continued
31st October 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14th May 2025 and were signed on its behalf by:





J R Blackhurst - Director


Inverfab Ltd. (Registered number: SC223907)

Notes to the Financial Statements
for the year ended 31st October 2024


1. Statutory information

Inverfab Ltd. 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.

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 - 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 Statement of Income and Retained Earnings, 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.

Inverfab Ltd. (Registered number: SC223907)

Notes to the Financial Statements - continued
for the year ended 31st October 2024


2. Accounting policies - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Fair value
Fair value is the amount for which an asset could be exchanged or a liability settled between knowledgeable, willing parties in an arm's length transaction.

3. Employees and directors

The average number of employees during the year was 7 (2023 - 8 ) .

4. Tangible fixed assets
Plant and Motor
machinery vehicles Totals
£    £    £   
Cost
At 1st November 2023 107,490 183,611 291,101
Additions 5,000 - 5,000
Disposals - (15,780 ) (15,780 )
At 31st October 2024 112,490 167,831 280,321
Depreciation
At 1st November 2023 95,447 86,266 181,713
Charge for year 2,556 24,211 26,767
Eliminated on disposal - (15,280 ) (15,280 )
At 31st October 2024 98,003 95,197 193,200
Net book value
At 31st October 2024 14,487 72,634 87,121
At 31st October 2023 12,043 97,345 109,388

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 40,233 92,168
Other debtors 387,622 336,134
427,855 428,302

Inverfab Ltd. (Registered number: SC223907)

Notes to the Financial Statements - continued
for the year ended 31st October 2024


6. Creditors: amounts falling due within one year
2024 2023
£    £   
Hire purchase contracts 11,973 14,106
Trade creditors 60,147 27,656
Taxation and social security 35,825 121,875
Other creditors 6,855 3,460
114,800 167,097

7. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Hire purchase contracts 9,747 23,045

8. Secured debts

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 21,720 37,151

Included in the above are secured creditors as follows:
Hire purchase creditor of £21,720 (2023: £30,341) secured by the asset financed.

9. Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 31st October 2024 and 31st October 2023:

2024 2023
£    £   
J R Blackhurst and G C Blackhurst
Balance outstanding at start of year 274,774 224,752
Amounts advanced 125,544 142,992
Amounts repaid (80,000 ) (92,970 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 320,318 274,774