Company registration number 00778304 (England and Wales)
SMETHWICK FABRICATIONS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
PAGES FOR FILING WITH REGISTRAR
SMETHWICK FABRICATIONS LIMITED
CONTENTS
PAGE
Balance sheet
1
Notes to the financial statements
2 - 8
SMETHWICK FABRICATIONS LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2024
30 November 2024
- 1 -
2024
2023
as restated
Notes
£
£
£
£
FIXED ASSETS
Tangible assets
4
-
0
-
0
CURRENT ASSETS
Stocks
-
607
Debtors
5
5,528
4,143
Cash at bank and in hand
-
0
400
5,528
5,150
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
6
(8,115)
(13,406)
NET CURRENT LIABILITIES
(2,587)
(8,256)
CAPITAL AND RESERVES
Called up share capital
8
100
100
Profit and loss reserves
(2,687)
(8,356)
TOTAL EQUITY
(2,587)
(8,256)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

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

The financial statements were approved and signed by the director and authorised for issue on 14 October 2025
Mr M Cooper
DIRECTOR
COMPANY REGISTRATION NO. 00778304
SMETHWICK FABRICATIONS LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2024
30 November 2024
- 2 -
1
JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

2
ACCOUNTING POLICIES
COMPANY INFORMATION

Smethwick Fabrications Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit G6, Grice Street, West Bromwich, West Midlands, B70 7EZ.

2.1
ACCOUNTING CONVENTION

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

2.2
TURNOVER

Turnover is the total amount estimated to be receivable by the company for services rendered to clients during the year, excluding VAT.

2.3
TANGIBLE FIXED ASSETS

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

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

Plant and machinery
- 10% on cost

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.

2.4
STOCKS

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

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.

SMETHWICK FABRICATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
2
ACCOUNTING POLICIES
(Continued)
- 3 -
2.5
CASH AND CASH EQUIVALENTS

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

2.6
FINANCIAL INSTRUMENTS

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

2.7
EQUITY INSTRUMENTS

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

SMETHWICK FABRICATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
2
ACCOUNTING POLICIES
(Continued)
- 4 -
2.8
EMPLOYEE BENEFITS

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2.9
RETIREMENT BENEFITS

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit and loss account in the period to which they relate.

2.10
GOING CONCERN

The financial statements have been prepared on a basis other than going concern due to the cessation of trade on 1 November 2024. As a result, the director has determined that it is no longer suitable to prepare the accounts on a going concern basis.

Attention is drawn to the paragraph included in the audit report "Material uncertainty relating to going concern." The audit opinion is not modified in respect of this matter.

3
EMPLOYEES

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
4
TANGIBLE FIXED ASSETS
Plant and machinery
£
COST
At 1 December 2023
1,379
Disposals
(1,379)
At 30 November 2024
-
0
DEPRECIATION AND IMPAIRMENT
At 1 December 2023
1,379
Eliminated in respect of disposals
(1,379)
At 30 November 2024
-
0
CARRYING AMOUNT
At 30 November 2024
-
0
At 30 November 2023
-
0
SMETHWICK FABRICATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 5 -
5
DEBTORS
2024
2023
AMOUNTS FALLING DUE WITHIN ONE YEAR:
£
£
Trade debtors
1,709
3,175
Other debtors
3,819
968
5,528
4,143
6
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
£
£
Trade creditors
4,363
4,862
Other taxation and social security
252
689
Other creditors
3,500
7,855
8,115
13,406
7
RETIREMENT BENEFIT SCHEMES
2024
2023
DEFINED CONTRIBUTION SCHEMES
£
£
Charge to profit or loss in respect of defined contribution schemes
865
855

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

.

8
CALLED UP SHARE CAPITAL
2024
2023
2024
2023
ORDINARY SHARE CAPITAL
Number
Number
£
£
ISSUED AND FULLY PAID
Ordinary of £1 each
100
100
100
100
9
SECURITY

An unlimited guarantee is in place dated 14 December 1983 given by Smethwick Maintenance Company Limited.

10
AUDIT REPORT INFORMATION

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

SMETHWICK FABRICATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
10
AUDIT REPORT INFORMATION
(Continued)
- 6 -
MATERIAL UNCERTAINTY RELATING TO GOING CONCERN

In forming our opinion on the financial statements, which is not modified, we have considered the adequacy of the disclosure to the financial statements concerning the company's ability to continue as a going concern. The company ceased trading during the year ended 30 November 2024, and the financial statements have been prepared on a basis other than going concern. As a result of the cessation of trade, the going concern basis of accounting is no longer appropriate.Our opinion is not modified in respect of this matter.

The senior statutory auditor was Neal Aston FCA FCCA and the auditor was JW Hinks LLP.
11
PARENT COMPANY

The company is a subsidiary of Smethwick Maintenance Company Limited, a company incorporated in England.

The consolidated financial statements of Smethwick Maintenance Company Limited are available from their registered office, 336 Spon Lane South, West Bromwich, West Midlands, B70 6AZ.

SMETHWICK FABRICATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 7 -
12
RELATED PARTY TRANSACTIONS

The company has taken advantage of Section 33 of FRS102 related party disclosures, not to disclose related party transactions with wholly owned subsidiaries within the group.

13
GOING CONCERN

The financial statements have been prepared on a basis other than going concern due to the cessation of trade on 1 November 2024. As a result, the director has determined that it is no longer suitable to prepare the accounts on a going concern basis.

Attention is drawn to the paragraph included in the audit report "Material uncertainty relating to going concern." The audit opinion is not modified in respect of this matter.

14
PRIOR PERIOD ADJUSTMENT

A prior year adjustment has been included in respect of the year ended 30 November 2023. The adjustment relates to amounts written back in respect of inter company balances to the value of £890,426. This has resulted in an increase of Profit and Loss Account reserves of £890,426 as at 30 November 2023.

CHANGES TO THE BALANCE SHEET
As previously reported
Adjustment
As restated at 30 Nov 2023
£
£
£
CURRENT ASSETS
Debtors due within one year
4,142
1
4,143
CREDITORS DUE WITHIN ONE YEAR
Other creditors
(903,142)
890,425
(12,717)
Net assets
(898,682)
890,426
(8,256)
CAPITAL AND RESERVES
Profit and loss reserves
(898,782)
890,426
(8,356)
CHANGES TO THE PROFIT AND LOSS ACCOUNT
As previously reported
Adjustment
As restated
PERIOD ENDED 30 NOVEMBER 2023
£
£
£
Exceptional items
-
890,426
890,426
(Loss)/profit for the financial period
(55,669)
890,426
834,757
SMETHWICK FABRICATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
14
PRIOR PERIOD ADJUSTMENT
(Continued)
- 8 -
RECONCILIATION OF CHANGES IN EQUITY
1 December
30 November
2022
2023
£
£
ADJUSTMENTS TO PRIOR YEAR
-
890,426
Equity as previously reported
(843,013)
(898,682)
Equity as adjusted
(843,013)
(8,256)
ANALYSIS OF THE EFFECT UPON EQUITY
Profit and loss reserves
-
890,426
RECONCILIATION OF CHANGES IN (LOSS)/PROFIT FOR THE PREVIOUS FINANCIAL PERIOD
2023
£
ADJUSTMENTS TO PRIOR YEAR
890,426
Loss as previously reported
(55,669)
Profit as adjusted
834,757
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