Continental Fabrications Ltd,Ltd - AccountsLtd - Accounts

Continental Fabrications Ltd,Ltd - AccountsLtd - Accounts

CONTINENTAL FABRICATIONS LTD - Company Information

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2019-12-01 12307974 2020-11-30 12307974 2019-12-01 2020-11-30 12307974 uk-core:WithinOneYear 2020-11-30 12307974 uk-core:ShareCapital 2020-11-30 12307974 uk-core:RetainedEarningsAccumulatedLosses 2020-11-30 12307974 uk-bus:Director1 2019-12-01 2020-11-30 12307974 uk-core:PlantMachinery 2019-12-01 2020-11-30 12307974 uk-core:MotorVehicles 2019-12-01 2020-11-30 12307974 uk-core:PlantMachinery 2020-11-30 12307974 uk-core:MotorVehicles 2020-11-30 12307974 uk-core:WithinOneYear 2020-11-30 iso4217:GBP xbrli:pure 12307974 uk-bus:AuditExemptWithAccountantsReport 2019-12-01 2020-11-30 12307974 uk-bus:FRS102 2019-12-01 2020-11-30 12307974 uk-bus:FullAccounts 2019-12-01 2020-11-30 12307974 uk-bus:PrivateLimitedCompanyLtd 2019-12-01 2020-11-30
Continental Fabrications Ltd
Registered Number:12307974
For the year ended 30 November 2020
England and Wales
Unaudited Financial Statements
2
For the year ended 30 November 2020
Continental Fabrications Ltd
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
Registered Number :
12307974
As at 30 November 2020
Continental Fabrications Ltd
Statement of Financial Position
£
2020
Notes
Fixed assets
Property, plant and equipment
250,300
2
250,300
Current assets
Inventories
175,598
3
Trade and other receivables
425,117
4
Cash and cash equivalents
152,055
752,770
Trade and other payables: amounts falling due within one
year
(570,658)
5
182,112
Net current assets
Total assets less current liabilities
432,412
(47,560)
Provisions for liabilities
384,852
Net assets/liabilities
Capital and reserves
Called up share capital
100
Retained earnings
384,752
384,852
Shareholders' funds
For the year ended 30 November 2020 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 of its financial statements for the year ended 30 November 2020 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
B J North Director
These financial statements were approved and authorised for issue by the Board on 05 February 2021 and were signed by:
The notes form part of these financial statements
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4
For the year ended 30 November 2020
Continental Fabrications Ltd
Notes to the Financial Statements
Statutory Information
Continental Fabrications Ltd is a private limited company, limited by shares, domiciled in England and Wales,
registration number 12307974.
Registered address:
Spring Garden Mill
New Street
Milnsbridge
Huddersfield
HD3 4LN
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes.
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery
20% Reducing balance
25% Reducing balance
Motor Vehicles
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Inventories
Inventories are value at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
2 of 4
5
For the year ended 30 November 2020
Continental Fabrications Ltd
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Motor
Vehicles
Plant and
Machinery
£
£
£
Cost or
valuation
314,750
30,000
284,750
Additions
At 30 November 2020
284,750
30,000
314,750
Provision for depreciation and impairment
Charge for year
64,450
7,500
56,950
At 30 November 2020
64,450
7,500
56,950
At 30 November 2020
Net book value
227,800
22,500
250,300
3. Inventories
2020
£
Stocks
175,598
4. Trade and other receivables
2020
£
Trade debtors
423,776
Prepayments and accrued income
1,341
425,117
5. Trade and other payables: amounts falling due within one year
2020
£
Bank loans and overdraft
50,000
Trade creditors
68,200
Taxation and social security
85,123
Accruals and deferred income
82,685
Directors' loan accounts
224,650
Other creditors
60,000
570,658
3 of 4
6
For the year ended 30 November 2020
Continental Fabrications Ltd
Notes to the Financial Statements Continued
6. Average number of persons employed
During the year the average number of employees was 20
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