COWAP MOBILE WELDING SERVICES LIMITED - Accounts to registrar (filleted)

REGISTERED NUMBER: 08308489 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

COWAP MOBILE WELDING SERVICES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTORS:

N COWAP

K COWAP

REGISTERED OFFICE:

WOODSIDE COTTAGE

HOLMSHAW LANE

OAKHANGER

CREWE

CW1 5XF

REGISTERED NUMBER:

08308489 (England and Wales)

ACCOUNTANTS:

Milne Thomas and Co

27 Seller Street

Chester

Cheshire

CH1 3NA

FIXED ASSETS

Tangible assets

4

1,761,489

1,882,053

CURRENT ASSETS

Stocks and work in progress

260,000

60,000

Debtors

5

300,299

413,073

Cash at bank

36,789

44,495

597,088

517,568

CREDITORS

Amounts falling due within one year

6

618,305

374,123

NET CURRENT (LIABILITIES)/ASSETS

(21,217

)

143,445

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,740,272

2,025,498

CREDITORS

Amounts falling due after more than
one year

7

789,177

995,994

NET ASSETS

951,095

1,029,504

CAPITAL AND RESERVES

Called up share capital

1

Revaluation reserve

8

87,476

Retained earnings

863,618

942,027

951,095

1,029,504

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

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

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 Board of Directors and authorised for issue on 29 August 2025 and were signed on its behalf by:

N COWAP - Director

K COWAP - Director

1.	STATUTORY INFORMATION

COWAP MOBILE WELDING SERVICES 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

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 except for plant and machinery which is included at a revalued amount.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Pension costs

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery etc - 20 % on reducing balance, 15% on reducing balance and 10% on reducing balance after any revaluations.

The cost figure showing under Land and buildings is for land which is not depreciated.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Stocks and work in progress

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 January 2024

522,807

1,978,148

2,500,955

Additions

-

111,617

At 31 December 2024

522,807

2,089,765

2,612,572

DEPRECIATION

At 1 January 2024

-

618,902

Charge for year

-

232,181

At 31 December 2024

-

851,083

NET BOOK VALUE

At 31 December 2024

522,807

1,238,682

1,761,489

At 31 December 2023

522,807

1,359,246

1,882,053

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade debtors

197,888

317,280

Other debtors

102,411

95,793

300,299

413,073

Included within other debtors is an amount of £63482 owing from a company in which the Directors' have a material interest.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Bank loans and overdrafts

13,516

13,300

Hire purchase contracts

190,182

206,187

Trade creditors

78,338

77,293

Taxation and social security

15,947

24,871

Other creditors

320,322

52,472

618,305

374,123

Included within other creditors is an amount owing of £248405 to N Cowap who is a director of the company.

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

31.12.24

31.12.23

£

Bank loans

302,079

310,486

Hire purchase contracts

243,681

415,252

Other creditors

243,417

270,256

789,177

995,994

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

275,072

280,279

"Other creditors" above represents Deferred taxation.

The Government backed loan of £50000 granted in 2020 was interest and repayment free for 12 months and then repayable over 5 years commencing June 2021 at a rate of 2.5%

A bank loan commenced in 2023 for £300000 secured with a charge over the property acquired at a variable rate of 8.49% and increasing to 9.74% on 10th October 2023. This is repayable by monthly installments over 30 years commencing April 2023.

8.

RESERVES

Revaluation

reserve

£

At 1 January 2024

and 31 December 2024

87,476

9.	REVALUATION RESERVE & OTHER COMPREHENSIVE INCOME

The plant and equipment was revalued by the Director at 31 December 2021.

If the plant and machinery had not been revalued it would have been included at the historical cost of

£976098 and accumulated depreciation of £406970 at that time.

Revaluation of plant and machinery

107995

Deferred tax

(20519

)

Revaluation reserve

87476

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 Directors' Report 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 COWAP MOBILE WELDING SERVICES LIMITED for the year ended 31 December 2024 which comprise the Income Statement, 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 the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of COWAP MOBILE WELDING SERVICES LIMITED, 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 COWAP MOBILE WELDING SERVICES LIMITED and state those matters that we have agreed to state to the Board of Directors of COWAP MOBILE WELDING SERVICES LIMITED, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than COWAP MOBILE WELDING SERVICES LIMITED and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that COWAP MOBILE WELDING SERVICES LIMITED 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 loss of COWAP MOBILE WELDING SERVICES LIMITED. You consider that COWAP MOBILE WELDING SERVICES LIMITED 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 COWAP MOBILE WELDING SERVICES LIMITED. 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.

Milne Thomas and Co

27 Seller Street

Chester

Cheshire

CH1 3NA

Date: .............................................