Able Stainless Steel Fabrications Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 01969999 (England and Wales)

Financial Statements

for the Year Ended 31 March 2025

for

Able Stainless Steel Fabrications Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G P Cooke

G W Woodward

J C Cannon

D S Cudworth

REGISTERED OFFICE:

Cadley Hill Road

Swadlincote

Derbyshire

DE11 9EQ

REGISTERED NUMBER:

01969999 (England and Wales)

ACCOUNTANTS:

Bourne & Co

Chartered Accountants

6 Lichfield Street

Burton-on-Trent

Staffordshire

DE14 3RD

FIXED ASSETS

Tangible assets

4

412,343

431,703

CURRENT ASSETS

Stocks

86,000

80,588

Debtors

1,303,998

950,745

Cash at bank and in hand

1,143,990

1,014,205

2,533,988

2,045,538

CREDITORS

Amounts falling due within one year

1,827,616

1,506,597

NET CURRENT ASSETS

706,372

538,941

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,118,715

970,644

CREDITORS

Amounts falling due after more than
one year

(1,757

)

(21,937

)

PROVISIONS FOR LIABILITIES

(74,580

)

(7,818

)

NET ASSETS

1,042,378

940,889

CAPITAL AND RESERVES

Called up share capital

6

10,000

Retained earnings

non distributable

7

26,786

31,868

Retained earnings

7

1,005,592

899,021

SHAREHOLDERS' FUNDS

1,042,378

940,889

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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 16 December 2025 and were signed on its behalf by:

J C Cannon - Director

1.	STATUTORY INFORMATION

Able Stainless Steel Fabrications Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets.

Turnover

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

Turnover is recognised once a project has been delivered and the significant risks and rewards of ownership of the associated goods have transferred to the buyer, the amount of turnover can be measured reliably and it is probable that the economic benefits associated with the transaction will flow to the company

Tangible fixed assets

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

Freehold property - 1% on revalued amount

Plant and machinery - 10% on reducing balance

Fixtures and fittings - 20% on reducing balance

Motor vehicles - 25% on reducing balance or over lease term

Freehold land is not depreciated.

Stocks

Stock 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.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads together with an allowance to cover the estimated profit up to the date of the balance sheet.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid 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.

Fixed asset investments

Listed investments are included in the balance sheet at their market value. Increases in valuation over original cost are not credited to the profit and loss until the asset is sold, the unrealised gains are credited to the revaluation reserve. Any losses on revaluation caused by changing market prices are debited to the revaluation reserve until the carrying amount reaches its original cost. Any losses due to a valuation below original cost are charged to the profit and loss account.

Debtors and creditors

Short term debtors are measured at transaction price less any impairment. Any losses arising from impairment are recognised in profit or loss.

Short term creditors are measured at transaction price.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2024 - 30 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST OR VALUATION

At 1 April 2024

987,384

Additions

50,449

Disposals

(12,545

)

At 31 March 2025

1,025,288

DEPRECIATION

At 1 April 2024

555,681

Charge for year

66,831

Eliminated on disposal

(9,567

)

At 31 March 2025

612,945

NET BOOK VALUE

At 31 March 2025

412,343

At 31 March 2024

431,703

Cost or valuation at 31 March 2025 is represented by:

Totals

£

Valuation in 2002

54,975

Valuation in 1993

53,623

Cost

916,690

1,025,288

Fixed assets, included in the above, which are held under finance leases are as follows:

Totals

£

COST OR VALUATION

At 1 April 2024

and 31 March 2025

55,319

DEPRECIATION

At 1 April 2024

35,536

Charge for year

10,058

At 31 March 2025

45,594

NET BOOK VALUE

At 31 March 2025

9,725

At 31 March 2024

19,783

5.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Finance leases

31.3.25

31.3.24

£

Net obligations repayable:

Within one year

9,727

10,054

Between one and five years

-

9,729

9,727

19,783

Non-cancellable

operating leases

31.3.25

31.3.24

£

Within one year

100,000

Between one and five years

400,000

In more than five years

300,000

400,000

800,000

900,000

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

10,000

Ordinary

1

10,000

7.

RESERVES

Retained

earnings

Retained

non

earnings

distributable

Totals

£

At 1 April 2024

899,021

31,868

930,889

Profit for the year

351,489

Dividends

(250,000

)

(250,000

)

Transfer -depreciation

adjustments due to

revaluations

3,971

(3,971

)

-

Deferred tax adjustment

1,111

(1,111

)

-

At 31 March 2025

1,005,592

26,786

1,032,378