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REGISTERED NUMBER: 05972022 (England and Wales)











Financial Statements

for the Year Ended 31 January 2025

for

I & N Fabrication Limited

I & N Fabrication Limited (Registered number: 05972022)

Contents of the Financial Statements
for the Year Ended 31 January 2025










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


I & N Fabrication Limited

Company Information
for the Year Ended 31 January 2025







DIRECTOR: I G Nicholl



SECRETARY: Mrs C Warren



REGISTERED OFFICE: Unit 5
Vernon Street Industrial Estate
Shirebrook, Mansfield
Nottingham
NG20 8SS



REGISTERED NUMBER: 05972022 (England and Wales)



ACCOUNTANTS: Mabe Allen LLP
Chartered Accountants
The Old Manse
29 St. Mary Street
Ilkeston
Derbyshire
DE7 8AB



BANKERS: National Westminster Bank Plc
9 Church Street
Mansfield
Nottingham
NG18 1AF

I & N Fabrication Limited (Registered number: 05972022)

Balance Sheet
31 January 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 88,494 107,415

CURRENT ASSETS
Stocks 5 147,075 112,000
Debtors 6 724,302 686,226
Cash at bank and in hand 18,283 46,294
889,660 844,520
CREDITORS
Amounts falling due within one year 7 318,412 292,082
NET CURRENT ASSETS 571,248 552,438
TOTAL ASSETS LESS CURRENT
LIABILITIES

659,742

659,853

CREDITORS
Amounts falling due after more than one
year

8

(3,903

)

(20,228

)

PROVISIONS FOR LIABILITIES (8,352 ) (8,060 )
NET ASSETS 647,487 631,565

CAPITAL AND RESERVES
Called up share capital 10 1 1
Retained earnings 647,486 631,564
SHAREHOLDERS' FUNDS 647,487 631,565

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

I & N Fabrication Limited (Registered number: 05972022)

Balance Sheet - continued
31 January 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 director and authorised for issue on 6 August 2025 and were signed by:





I G Nicholl - Director


I & N Fabrication Limited (Registered number: 05972022)

Notes to the Financial Statements
for the Year Ended 31 January 2025


1. STATUTORY INFORMATION

I & N Fabrication Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Principal accounting policies
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.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year and also have been consistently applied within the same financial statements.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures, fittings & equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

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.


I & N Fabrication Limited (Registered number: 05972022)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2024 - 25 ) .

I & N Fabrication Limited (Registered number: 05972022)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025


4. TANGIBLE FIXED ASSETS
Fixtures,
fittings Motor
& equipment vehicles Totals
£    £    £   
COST
At 1 February 2024 57,548 113,945 171,493
Additions 13,167 - 13,167
Disposals (13,477 ) - (13,477 )
At 31 January 2025 57,238 113,945 171,183
DEPRECIATION
At 1 February 2024 10,200 53,878 64,078
Charge for year 7,145 15,017 22,162
Eliminated on disposal (3,551 ) - (3,551 )
At 31 January 2025 13,794 68,895 82,689
NET BOOK VALUE
At 31 January 2025 43,444 45,050 88,494
At 31 January 2024 47,348 60,067 107,415

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 February 2024
and 31 January 2025 110,245
DEPRECIATION
At 1 February 2024 53,107
Charge for year 14,285
At 31 January 2025 67,392
NET BOOK VALUE
At 31 January 2025 42,853
At 31 January 2024 57,138

5. STOCKS
2025 2024
£    £   
Work-in-progress 147,075 112,000

I & N Fabrication Limited (Registered number: 05972022)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 411,145 360,736
Amounts owed by connected companies 55,000 75,000
Prepayments and accrued income 258,157 250,490
724,302 686,226

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 6,188 24,750
Trade creditors 147,700 88,284
Amounts owed to connected companies 15,000 -
Corporation tax 5,331 680
Social security and other taxes 121,177 114,636
Other creditors 854 -
Directors' current accounts 2,110 2,111
Accruals 10,052 51,621
318,412 292,082

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2025 2024
£    £   
Bank loans 3,903 14,040
Hire purchase contracts - 6,188
3,903 20,228

9. SECURED DEBTS

There is a fixed and floating charge over the assets of companies owned by the director Mr I G Nicholl, which includes this company.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £    £   
1 Ordinary £1 1 1

I & N Fabrication Limited (Registered number: 05972022)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025


11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2025 and 31 January 2024:

2025 2024
£    £   
I G Nicholl
Balance outstanding at start of year (2,111 ) (1,161 )
Amounts advanced 1 950
Amounts repaid - (1,900 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (2,110 ) (2,111 )