Company No: 06476575 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	V. Tate
	G. J. Tate
	N. P. Tate

REGISTERED OFFICE	Yellowcoat Sawmill
	Hastings Road
	Flimwell
	Wadhurst
	TN5 7PR
	East Sussex
	United Kingdom

COMPANY NUMBER

06476575 (England and Wales)

ACCOUNTANT	S&W Partners (South East) Limited
	Brockbourne House
	77 Mount Ephraim
	Royal Tunbridge Wells
	TN4 8BS

	Note	2025		2024
		£		£
Fixed assets
Intangible assets	3	40,500		54,000
Tangible assets	4	315,753		410,092
		356,253		464,092
Current assets
Stocks	5	1,280,000		1,480,000
Debtors	6	451,272		465,332
Cash at bank and in hand		1,016,028		712,043
		2,747,300		2,657,375
Creditors: amounts falling due within one year	7	( 583,533)		( 569,712)
Net current assets		2,163,767		2,087,663
Total assets less current liabilities		2,520,020		2,551,755
Provision for liabilities	8	( 80,695)		( 113,740)
Net assets		2,439,325		2,438,015
Capital and reserves
Called-up share capital		1		1
Profit and loss account		2,439,324		2,438,014
Total shareholder's funds		2,439,325		2,438,015

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Tate Fencing Limited (registered number: 06476575) were approved and authorised for issue by the Board of Directors on 03 September 2025. They were signed on its behalf by:

N. P. Tate Director

G. J. Tate Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Tate Fencing Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Yellowcoat Sawmill, Hastings Road, Flimwell, Wadhurst, TN5 7PR, East Sussex, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

Monetary amounts in these financial statements are stated in pounds sterling and are rounded to the nearest whole £1, except where otherwise indicated.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise on monetary items.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Turnover is recognised on the following bases:

Supply-only: when the goods are collected or received by the customer.

Installation: for smaller contracting jobs, on completion of the work undertaken, whereas for the larger contracting jobs, turnover is recognised on a monthly basis for the work completed to date.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the Balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the Balance sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

20 years straight line

Goodwill

Goodwill arises on a business combination and represents any excess of consideration given over fair value of the identifiable assets and liabilities acquired. It is written off on a straight line basis over its useful economic life taking into account any provision for impairment.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery	15 - 25 % reducing balance
Vehicles	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	43		50

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 April 2024	270,000		270,000
At 31 March 2025	270,000		270,000
Accumulated amortisation
At 01 April 2024	216,000		216,000
Charge for the financial year	13,500		13,500
At 31 March 2025	229,500		229,500
Net book value
At 31 March 2025	40,500		40,500
At 31 March 2024	54,000		54,000

4. Tangible assets

	Plant and machinery		Vehicles		Total
	£		£		£
Cost
At 01 April 2024	986,221		385,355		1,371,576
Disposals	( 36,301)		( 75,464)		( 111,765)
At 31 March 2025	949,920		309,891		1,259,811
Accumulated depreciation
At 01 April 2024	753,042		208,442		961,484
Charge for the financial year	44,213		44,032		88,245
Disposals	( 33,201)		( 72,470)		( 105,671)
At 31 March 2025	764,054		180,004		944,058
Net book value
At 31 March 2025	185,866		129,887		315,753
At 31 March 2024	233,179		176,913		410,092
Leased assets included above:
Net book value
At 31 March 2025	0		10,575		10,575
At 31 March 2024	0		14,101		14,101

5. Stocks

	2025		2024
	£		£
Finished goods	1,280,000		1,480,000

6. Debtors

	2025		2024
	£		£
Trade debtors	190,198		233,587
Amounts owed by Group undertakings	212,930		172,170
Prepayments	48,144		16,955
Corporation tax	0		39,597
Other debtors	0		3,023
	451,272		465,332

7. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	252,347		299,639
Amounts owed to Group undertakings	74,005		12,675
Accruals and deferred income	88,564		72,448
Taxation and social security	168,617		177,302
Other creditors	0		7,648
	583,533		569,712

Amounts owed to Group undertakings are repayable on demand and do not bear interest.

8. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	( 113,740)		( 121,269)
Credited to the Statement of Income and Retained Earnings	33,045		7,529
At the end of financial year	( 80,695)		( 113,740)

9. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2025		2024
	£		£
within one year	35,500		35,500
between one and five years	142,000		142,000
after five years	59,167		94,667
	236,667		272,167