12 7 Tameside Welding & Fabrication Limited 10537333 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is that of welding and fabrication engineers Digita Accounts Production Advanced 6.30.9574.0 true 10537333 2024-01-01 2024-12-31 10537333 2024-12-31 10537333 bus:OrdinaryShareClass1 2024-12-31 10537333 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-12-31 10537333 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-12-31 10537333 core:CurrentFinancialInstruments 2024-12-31 10537333 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 10537333 core:Non-currentFinancialInstruments 2024-12-31 10537333 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 10537333 core:FurnitureFittings 2024-12-31 10537333 core:LandBuildings core:ShortLeaseholdAssets 2024-12-31 10537333 core:MotorVehicles 2024-12-31 10537333 core:PlantMachinery 2024-12-31 10537333 bus:SmallEntities 2024-01-01 2024-12-31 10537333 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 10537333 bus:FilletedAccounts 2024-01-01 2024-12-31 10537333 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 10537333 bus:RegisteredOffice 2024-01-01 2024-12-31 10537333 bus:CompanySecretaryDirector1 2024-01-01 2024-12-31 10537333 bus:Director1 2024-01-01 2024-12-31 10537333 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 10537333 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 10537333 bus:Agent1 2024-01-01 2024-12-31 10537333 core:FurnitureFittings 2024-01-01 2024-12-31 10537333 core:LandBuildings core:ShortLeaseholdAssets 2024-01-01 2024-12-31 10537333 core:MotorVehicles 2024-01-01 2024-12-31 10537333 core:PlantMachinery 2024-01-01 2024-12-31 10537333 countries:England 2024-01-01 2024-12-31 10537333 2023-12-31 10537333 core:FurnitureFittings 2023-12-31 10537333 core:LandBuildings core:ShortLeaseholdAssets 2023-12-31 10537333 core:MotorVehicles 2023-12-31 10537333 core:PlantMachinery 2023-12-31 10537333 2023-01-01 2023-12-31 10537333 2023-12-31 10537333 bus:OrdinaryShareClass1 2023-12-31 10537333 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-12-31 10537333 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-12-31 10537333 core:CurrentFinancialInstruments 2023-12-31 10537333 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 10537333 core:Non-currentFinancialInstruments 2023-12-31 10537333 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 10537333 core:FurnitureFittings 2023-12-31 10537333 core:LandBuildings core:ShortLeaseholdAssets 2023-12-31 10537333 core:MotorVehicles 2023-12-31 10537333 core:PlantMachinery 2023-12-31 10537333 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 10537333

Tameside Welding & Fabrication Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Tameside Welding & Fabrication Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

Tameside Welding & Fabrication Limited

Company Information

Directors

David James Quinn

Charlotte Silva Quinn

Company secretary

Charlotte Silva Quinn

Registered office

Unit 3 Crossland Industrial Estate
Bredbury
Stockport
SK6 2BR

Accountants

D C Accounting Solutions Ltd
Chartered Accountants and Business AdvisersCentral House
Central Drive
Romiley
Stockport
Cheshire
SK6 4PE

 

Tameside Welding & Fabrication Limited

(Registration number: 10537333)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

119,963

95,216

Current assets

 

Stocks

5

12,088

11,588

Debtors

6

97,143

47,706

Cash at bank and in hand

 

9,365

22,655

 

118,596

81,949

Creditors: Amounts falling due within one year

7

(138,392)

(85,476)

Net current liabilities

 

(19,796)

(3,527)

Total assets less current liabilities

 

100,167

91,689

Creditors: Amounts falling due after more than one year

7

(31,635)

(38,225)

Provisions for liabilities

(22,308)

-

Net assets

 

46,224

53,464

Capital and reserves

 

Called up share capital

8

10

10

Retained earnings

46,214

53,454

Shareholders' funds

 

46,224

53,464

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 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 Board on 18 February 2025 and signed on its behalf by:
 

.........................................
David James Quinn
Director

 

Tameside Welding & Fabrication 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.

The address of its registered office is:
Unit 3 Crossland Industrial Estate
Bredbury
Stockport
SK6 2BR

The principal place of business is:
Unit 3 Crossland Industrial Estate
Bredbury
Stockport
SK6 2BR

These financial statements were authorised for issue by the Board on 18 February 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 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.

 

Tameside Welding & Fabrication Limited

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 reporting date and that are expected to apply to the reversal of the timing difference.

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.

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:

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.

 

Tameside Welding & Fabrication Limited

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

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.

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 in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

 

Tameside Welding & Fabrication 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 12 (2023 - 7).

4

Tangible assets

Short leasehold land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Cost or valuation

At 1 January 2024

-

3,451

89,867

54,177

Additions

2,600

-

39,471

15,578

Disposals

-

-

-

(2,500)

At 31 December 2024

2,600

3,451

129,338

67,255

Depreciation

At 1 January 2024

-

1,702

43,524

7,053

Charge for the year

173

654

19,922

12,153

Eliminated on disposal

-

-

-

(2,500)

At 31 December 2024

173

2,356

63,446

16,706

Carrying amount

At 31 December 2024

2,427

1,095

65,892

50,549

At 31 December 2023

-

1,749

46,343

47,124

 

Tameside Welding & Fabrication Limited

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

Total
£

Cost or valuation

At 1 January 2024

147,495

Additions

57,649

Disposals

(2,500)

At 31 December 2024

202,644

Depreciation

At 1 January 2024

52,279

Charge for the year

32,902

Eliminated on disposal

(2,500)

At 31 December 2024

82,681

Carrying amount

At 31 December 2024

119,963

At 31 December 2023

95,216

Included within the net book value of land and buildings above is £2,427 (2023 - £Nil) in respect of short leasehold land and buildings.
 

5

Stocks

2024
£

2023
£

Other inventories

12,088

11,588

6

Debtors

Current

2024
£

2023
£

Trade debtors

87,767

47,206

Prepayments

9,376

-

Other debtors

-

500

 

97,143

47,706

 

Tameside Welding & Fabrication Limited

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

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

29,699

16,678

Trade creditors

 

52,220

56,087

Taxation and social security

 

48,268

11,591

Accruals and deferred income

 

7,000

143

Other creditors

 

1,205

977

 

138,392

85,476

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

31,635

38,225

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £0.10 each

100

10

100

10

       
 

Tameside Welding & Fabrication Limited

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

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

5,562

15,111

Hire purchase contracts

18,583

23,114

Other borrowings

7,490

-

31,635

38,225

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,149

10,648

Bank overdrafts

2,191

-

Hire purchase contracts

12,019

6,030

Other borrowings

5,340

-

29,699

16,678

10

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £420.00 (2023 - £305.00) per each Ordinary shares

42,000

30,500