REGISTERED NUMBER: 04974461 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

FOR

YORKSHIRE LASER AND FABRICATIONS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G Orford

M Orford

Mrs C Scott

J Miller

SECRETARY:

G Orford

REGISTERED OFFICE:

Unit 1 New Court

Mildred Sylvester Way

Normanton

Wakefield

West Yorkshire

WF6 1TA

REGISTERED NUMBER:

04974461 (England and Wales)

ACCOUNTANTS:

Fortus Limited

3 Park Square East

Leeds

LS1 2NE

FIXED ASSETS

Tangible assets

4

2,343,832

2,654,696

CURRENT ASSETS

Stocks

715,232

579,720

Debtors

5

1,260,803

1,395,582

Cash at bank and in hand

372,927

502,224

2,348,962

2,477,526

CREDITORS

Amounts falling due within one year

6

1,554,516

1,616,947

NET CURRENT ASSETS

794,446

860,579

TOTAL ASSETS LESS CURRENT LIABILITIES

3,138,278

3,515,275

CREDITORS

Amounts falling due after more than one year

7

(596,427

)

(933,340

)

PROVISIONS FOR LIABILITIES

(560,056

)

(593,325

)

NET ASSETS

1,981,795

1,988,610

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,981,695

1,988,510

SHAREHOLDERS' FUNDS

1,981,795

1,988,610

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 November 2025 and were signed on its behalf by:

M Orford - Director

1.	STATUTORY INFORMATION

Yorkshire Laser and Fabrications Limited 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.

Significant judgements and estimates

In applying the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities. Estimates and assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised.

The main judgement concerns the likely future demand for the company's products and how that impacts on the carrying value of stock. The director has based his judgement on his considerable experience and understanding of the product and its marketplace.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

2% on cost

Plant and machinery

-

25% on cost, 10% on reducing balance and 2% on cost

Motor vehicles

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads including an allowance for attributable profit accrued to date.

Financial instruments

The company enters into basic financial instrument transactions resulting in the recognition of financial assets and liabilities such as trade debtors and trade creditors, loans from banks and loans to and from related parties. Debt instruments that are payable or receivable within one year, typically trade debtors and trade creditors, are measured at the undiscounted constitutes a financing transaction, such as the payment of a trade debt beyond normal business terms or financed at a non-market rate of interest, the financial asset or liability is measured at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

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.

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.

Amounts recoverable on contracts

Amounts recoverable on contracts represents revenue receivable from customers on contracts in progress at the balance-sheet date. The valuation of amounts recoverable on contracts is adjusted to take up profit to date in accordance with the accounting policy for profit recognition.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2023 - 50 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Motor

property

machinery

vehicles

Totals

£

£

£

£

COST

At 1 December 2023

40,000

4,389,159

210,833

4,639,992

Additions

-

44,694

-

44,694

At 30 November 2024

40,000

4,433,853

210,833

4,684,686

DEPRECIATION

At 1 December 2023

-

1,907,842

77,454

1,985,296

Charge for year

800

321,413

33,345

355,558

At 30 November 2024

800

2,229,255

110,799

2,340,854

NET BOOK VALUE

At 30 November 2024

39,200

2,204,598

100,034

2,343,832

At 30 November 2023

40,000

2,481,317

133,379

2,654,696

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 December 2023

2,220,237

210,833

2,431,070

Transfer to ownership

(14,226

)

(43,568

)

(57,794

)

At 30 November 2024

2,206,011

167,265

2,373,276

DEPRECIATION

At 1 December 2023

736,438

77,454

813,892

Charge for year

148,381

33,345

181,726

Transfer to ownership

(7,558

)

(31,121

)

(38,679

)

At 30 November 2024

877,261

79,678

956,939

NET BOOK VALUE

At 30 November 2024

1,328,750

87,587

1,416,337

At 30 November 2023

1,483,799

133,379

1,617,178

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

901,309

1,166,708

Taxation

53,200

81,521

Prepayments

43,979

40,986

Amount due from group undertaking

262,315

106,367

1,260,803

1,395,582

Included in trade debtors are debts against which an invoice discounting loan has been advanced These trade debts act as security against the sum so advanced and disclosed in note 9 to the financial statements.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

45,455

45,455

Hire purchase contracts

355,347

369,144

Trade creditors

336,404

477,192

Corporation tax

75,681

2

Social security and other taxes

9,732

22,288

VAT

54,003

92,778

Other creditors and accruals

81,633

94,865

Invoice discounting loan

596,261

515,223

1,554,516

1,616,947

Included in creditors - amounts falling due within one year is an amount due to the debt financiers totalling £596,261 (2023: £515,223). This sum is secured against approved trade debtors disclosed in note 8 to the financial statements.

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 1-2 years

22,727

66,515

Hire purchase contracts

573,700

866,825

596,427

933,340

8.	RELATED PARTY DISCLOSURES

During the year the company paid rents totalling £54,386 (2023: £54,000) to YLF Property Limited.

During the year the company paid insurance of £2,622 (2023: £2,860) to YLF Property Limited.

Included in trade creditors is an amount due to YLF Property Limited of £5,564.36 (2023: £13,900).

At 30 November 2024 the company was owed £262,315 (2023: £106,367) by YLF Property Limited.

YLF Property Limited is the parent undertaking of the company.