Professional Fabrication Services Ltd 31/01/2026 iXBRL

Company registration number: 07014947

Professional Fabrication Services Ltd

Unaudited filleted financial statements

31 January 2026

Professional Fabrication Services Ltd

Contents

Directors and other information

Accountants report

Statement of financial position

Notes to the financial statements

Professional Fabrication Services Ltd

Directors and other information


	Directors	Mr Wayne Pritchard
		Mrs Amanda Pritchard


	Company number	07014947


	Registered office	Bangor Business Centre
		2 Farrar Road
		Bangor
		LL57 1LJ


	Business address	Units 19a - 21a
		Penrhos Industrial Estate
		Holyhead
		LL65 2FD


	Accountants	Parker, O'Regan, Tann & Co
		Bangor Business Centre
		2 Farrar Road
		Bangor
		Gwynedd
		LL57 1LJ

Professional Fabrication Services Ltd

Chartered Certified accountants report to the board of directors on the preparation of the

unaudited statutory financial statements of Professional Fabrication Services Ltd

Year ended 31 January 2026

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Professional Fabrication Services Ltd for the year ended 31 January 2026 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com.

This report is made solely to the board of directors of Professional Fabrication Services Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Professional Fabrication Services Ltd and state those matters that we have agreed to state to the board of directors of Professional Fabrication Services Ltd as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Professional Fabrication Services Ltd and its board of directors as a body for our work or for this report.

It is your duty to ensure that Professional Fabrication Services Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Professional Fabrication Services Ltd. You consider that Professional Fabrication Services Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Professional Fabrication Services Ltd. 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 statutory financial statements.

Parker, O'Regan, Tann & Co

Chartered Certified Accountants

Bangor Business Centre

2 Farrar Road

Bangor

Gwynedd

LL57 1LJ

6 May 2026

Professional Fabrication Services Ltd

Statement of financial position

31 January 2026

		2026		2025
	Note	£	£	£	£

Fixed assets
Tangible assets	5	122,274		170,611
		_______		_______
			122,274		170,611

Current assets
Stocks		17,450		14,980
Debtors	6	112,361		371,932
Cash at bank and in hand		13,112		58,017
		_______		_______
		142,923		444,929
Creditors: amounts falling due
within one year	7	( 104,468)		( 174,169)
		_______		_______
Net current assets			38,455		270,760
			_______		_______
Total assets less current liabilities			160,729		441,371

Creditors: amounts falling due
after more than one year	8		-		( 3,475)

Provisions for liabilities			( 15,628)		( 24,326)

			_______		_______
Net assets			145,101		413,570
			_______		_______

Capital and reserves
Called up share capital			2,000		2,000
Share premium account			( 59,000)		( 59,000)
Profit and loss account			202,101		470,570
			_______		_______
Shareholders funds			145,101		413,570
			_______		_______

For the year ending 31 January 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

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

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 06 May 2026 , and are signed on behalf of the board by:

Mr Wayne Pritchard

Director

Company registration number: 07014947

Professional Fabrication Services Ltd

Notes to the financial statements

Year ended 31 January 2026

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Bangor Business Centre, 2 Farrar Road, Bangor, LL57 1LJ.

2. Statement of compliance

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

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover represents the provision of fabrication welding and related services made during the year. Turnover excludes value added tax and is net of trade discounts.Turnover from welding services is recognised on completion. Part completed services are measured at the fair value of the consideration receivable.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

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.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Plant and machinery	-	12.50 %	straight line
Fittings fixtures and equipment	-	25 %	straight line
Motor vehicles	-	25 %	straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 11 (2025: 11 ).

5. Tangible assets

	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£	£
Cost
At 1 February 2025	368,905	31,549	156,017	556,471
Additions	15,893	1,267	-	17,160
	_______	_______	_______	_______
At 31 January 2026	384,798	32,816	156,017	573,631
	_______	_______	_______	_______
Depreciation
At 1 February 2025	245,098	27,750	113,012	385,860
Charge for the year	30,611	5,833	29,053	65,497
	_______	_______	_______	_______
At 31 January 2026	275,709	33,583	142,065	451,357
	_______	_______	_______	_______
Carrying amount
At 31 January 2026	109,089	( 767)	13,952	122,274
	_______	_______	_______	_______
At 31 January 2025	123,807	3,799	43,005	170,611
	_______	_______	_______	_______

6. Debtors

	2026	2025
	£	£
Trade debtors	76,624	346,993
Other debtors	35,737	24,939
	_______	_______
	112,361	371,932
	_______	_______

7. Creditors: amounts falling due within one year

	2026	2025
	£	£
Bank loans and overdrafts	3,509	13,872
Trade creditors	61,503	109,979
Corporation tax	-	15,813
Social security and other taxes	33,166	7,667
Other creditors	6,290	26,838
	_______	_______
	104,468	174,169
	_______	_______

Included in other creditors are amounts owed under hire purchase and finance lease contracts secured on the assets concerned. The amount owed under one year on hire purchase and finance lease contracts as at 31 January 2026 amounted to Nil (2025 - £4,260).

8. Creditors: amounts falling due after more than one year

	2026	2025
	£	£
Bank loans and overdrafts	-	3,475
	_______	_______