Tulway Fabrications Limited

	Page
Company Information	1
Accountant's Report	2
Balance Sheet	3—4
Notes to the Financial Statements	5—8

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Accountant's Report

For The Year Ended 30 June 2025

Accountant's Report

Chartered Accountant's report to the directors on the preparation of the unaudited statutory accounts of Tulway Fabrications Limited for the year ended 30 June 2025

In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Tulway Fabrications Limited for the year ended 30 June 2025 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.

As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the directors of Tulway Fabrications Limited , as a body, in accordance with the terms of our engagement letter dated 22 May 2025. Our work has been undertaken solely to prepare for your approval the accounts of Tulway Fabrications Limited and state those matters that we have agreed to state to the directors of Tulway Fabrications Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Tulway Fabrications Limited and its directors, as a body, for our work or for this report.

It is your duty to ensure that Tulway Fabrications Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Tulway Fabrications Limited . You consider that Tulway Fabrications Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit of the accounts of Tulway Fabrications 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 financial statements.

10 October 2025

ERC Accountants & Business Advisers Limited

Chartered Accountants

Hanover Buildings

11-13 Hanover Street

Liverpool

Merseyside

L1 3DN

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Tulway Fabrications Limited

Balance Sheet

As At 30 June 2025

Balance Sheet

Registered number: 12923448

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		305,629		13,626

			305,629		13,626
CURRENT ASSETS
Stocks	5	190,396		185,921
Debtors	6	3,015,287		2,421,548

		3,205,683		2,607,469
Creditors: Amounts Falling Due Within One Year	7	(2,778,943 )		(2,157,471 )

NET CURRENT ASSETS (LIABILITIES)			426,740		449,998

TOTAL ASSETS LESS CURRENT LIABILITIES			732,369		463,624

PROVISIONS FOR LIABILITIES
Deferred Taxation			(35,615 )		(3,407 )

NET ASSETS			696,754		460,217

CAPITAL AND RESERVES
Called up share capital	8		100		100
Profit and Loss Account			696,654		460,117

SHAREHOLDERS' FUNDS			696,754		460,217

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Tulway Fabrications Limited

Balance Sheet (continued)

As At 30 June 2025

For the year ending 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr K Tully

Director

10 October 2025

The notes on pages 5 to 8 form part of these financial statements.

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Tulway Fabrications Limited

Notes to the Financial Statements

For The Year Ended 30 June 2025

Notes to the Financial Statements

1. General Information

Tulway Fabrications Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12923448 . The registered office is Unit 12 Faraday Road Britonwood Trading Estate, Knowsley Industrial Park, Liverpool, Merseyside, L33 7UT.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold property improvements	10% Reducing balance
Plant and machinery	20% Reducing balance
Computer equipment	20% Reducing balance

2.4. 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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.5. Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

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Tulway Fabrications Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2025

2.6. Government Grant

Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.

Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.

All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 44 (2024: 39)

4. Tangible Assets

	Land & Property
	Leasehold property improvements	Plant and machinery	Computer equipment	Total
	£	£	£	£
Cost
As at 1 July 2024	-	9,596	14,016	23,612
Additions	164,541	87,856	54,323	306,720
Disposals	-	(2,800 )	-	(2,800 )

As at 30 June 2025	164,541	94,652	68,339	327,532

Depreciation
As at 1 July 2024	-	4,663	5,323	9,986
Provided during the period	1,371	10,702	2,644	14,717
Disposals	-	(2,800 )	-	(2,800 )

As at 30 June 2025	1,371	12,565	7,967	21,903

Net Book Value
As at 30 June 2025	163,170	82,087	60,372	305,629

As at 1 July 2024	-	4,933	8,693	13,626

5. Stocks

	2025	2024
	£	£
Materials	190,396	75,921
Work in progress	-	110,000

	190,396	185,921

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Tulway Fabrications Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2025

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	629,898	319,392
Amounts recoverable on contracts	2,277,224	2,027,433
Prepayments and accrued income	108,065	74,623
Other debtors	100	100

	3,015,287	2,421,548

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	836,458	594,407
Bank loans and overdrafts	745,765	79,810
Corporation tax	47,812	54,960
Other taxes and social security	110,548	78,104
VAT	266,049	215,540
Net wages	52,920	-
Other creditors	217,526	46,134
Accruals and deferred income	51,985	24,436
Amounts owed to group undertakings	449,880	1,064,080

	2,778,943	2,157,471

The Invoice Finance creditor of £195,214 shown within other creditors is secured by fixed and floating charges over the company's assets.

8. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

9. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2025	2024
	£	£
Not later than one year	206,172	51,000
Later than one year and not later than five years	606,896	51,000
Later than five years	112,500	-

	925,568	102,000

10. Directors Advances, Credits and Guarantees

No director received advances, credits or guarantees during the current or previous accounting periods.

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Tulway Fabrications Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2025

11. Related Party Transactions

The following related party transactions were undertaken during the year:

A connected company loaned Tulway Fabrications Ltd £722,970 (2024: £549,000) and was repaid £1,287,770 (2024: £3,000). Tulway Fabrications Ltd made sales to the connected company during the year of which £nil (2024: £65,000) was owed at the year end. At the balance sheet date Tulway Fabrications Ltd owed the connected company £96,200 (2024: £661,000).

A second connected company loaned Tulway Fabrications Ltd £847,120 (2024: £372,200) and was repaid £896,520 (2024: £304,103). At the balance sheet date Tulway Fabrications Ltd owed the connected company £353,680 (2024 : £403,080).

No further transactions with related parties were undertaken such as are required to be disclosed in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

12. Ultimate Parent Undertaking and Controlling Party

The company's immediate and ultimate parent undertaking is Tulway Engneering Ltd . Tulway Engneering Ltd was incorporated in England & Wales, registered number 03590248.

The ultimate controlling party is Tulway Engineering Ltd who controls 100% of the shares of Tulway Fabrications Limited .

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Directors	Mr K Tully
	Mrs J C Tully
	Mrs J Thornton

Company Number	12923448

Registered Office	Unit 12 Faraday Road Britonwood Trading Estate
	Knowsley Industrial Park
	Liverpool
	Merseyside
	L33 7UT

Accountants	ERC Accountants & Business Advisers Limited
	Chartered Accountants
	Hanover Buildings
	11-13 Hanover Street
	Liverpool
	Merseyside
	L1 3DN