REGISTERED NUMBER: 04654775 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

F3 SHEETMETAL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N C Bingham

D A Fowler

T M McNulty

REGISTERED OFFICE:

103 Barkby Road

Leicester

LE4 9LG

REGISTERED NUMBER:

04654775 (England and Wales)

ACCOUNTANTS:

Magma Audit LLP

Unit 2 Charnwood Edge Business Park

Syston Road, Leicester

LE7 4UZ

Magma Audit LLP is part

Of the Dains Group

FIXED ASSETS

Tangible assets

4

708,492

761,733

CURRENT ASSETS

Stocks

73,945

67,339

Debtors

5

404,395

412,942

Cash at bank and in hand

477,432

562,884

955,772

1,043,165

CREDITORS

Amounts falling due within one year

6

(441,281

)

(483,661

)

NET CURRENT ASSETS

514,491

559,504

TOTAL ASSETS LESS CURRENT LIABILITIES

1,222,983

1,321,237

CREDITORS

Amounts falling due after more than one year

7

-

(6,967

)

PROVISIONS FOR LIABILITIES

(171,400

)

(184,843

)

NET ASSETS

1,051,583

1,129,427

CAPITAL AND RESERVES

Called up share capital

99

99

Retained earnings

1,051,484

1,129,328

1,051,583

1,129,427

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 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 30 September 2025 and were signed on its behalf by:

N C Bingham - Director

D A Fowler - Director

T M McNulty - Director

1.	STATUTORY INFORMATION

F3 Sheetmetal Limited is a limited company, registered in England and Wales. Its registered office address is 103 Barkby Road, Leicester, LE4 9LG and the registered number is 04654775.

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.

The presentation currency of the financial statements is the Pound Sterling (£), and figures are rounded to the nearest £1.

Turnover

Turnover is derived from the trade of goods and is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Rendering of goods

Revenue from the sale of goods, which is based on the trade being manufacture of metal structures and parts of structures, is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following basis:

Plant and machinery

7.5% reducing balance

Fixtures and fittings

25% reducing balance

Motor vehicles

25% reducing balance

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the profit and loss account.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

Financial instruments

(i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest rate method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate.

Taxation

The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Operating leases

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

Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments 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.

Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2023 - 29 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 January 2024

1,392,604

3,360

28,350

1,424,314

Additions

7,283

-

-

7,283

Disposals

(31,075

)

-

-

(31,075

)

At 31 December 2024

1,368,812

3,360

28,350

1,400,522

DEPRECIATION

At 1 January 2024

647,139

3,038

12,404

662,581

Charge for year

56,457

81

3,986

60,524

Eliminated on disposal

(31,075

)

-

-

(31,075

)

At 31 December 2024

672,521

3,119

16,390

692,030

NET BOOK VALUE

At 31 December 2024

696,291

241

11,960

708,492

At 31 December 2023

745,465

322

15,946

761,733

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

360,950

368,074

Other debtors

100

11,728

VAT

-

1,426

Prepayments

43,345

31,714

404,395

412,942

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Hire purchase contracts (see note 8)

23,582

-

Trade creditors

195,359

247,207

Tax

40,022

68,174

Social security and other taxes

17,798

14,713

VAT

2,404

-

Other creditors

6,959

150

Directors' current accounts

143,790

143,796

Accruals and deferred income

4,400

825

Deferred government grants

6,967

8,796

441,281

483,661

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Deferred government grants

-

6,967

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2024

2023

£

£

Net obligations repayable:

Within one year

23,582

-

Non-cancellable

operating leases

2024

2023

£

£

Within one year

104,373

164,826

Between one and five years

341,532

-

445,905

164,826