Engineering Fabrication Limited - Limited company accounts 20.1
Engineering Fabrication Limited - Limited company accounts 20.1
| Engineering Fabrication Limited |
| Report of the Directors and |
| Financial Statements for the Year Ended 31 March 2022 |
| Engineering Fabrication Limited |
| Company Information |
| for the Year Ended 31 March 2022 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Radnor House |
| Greenwood Close |
| Cardiff Gate Business Park |
| Cardiff |
| CF23 8AA |
| BANKERS: |
| Corporate Banking Centre |
| Wales & South West |
| 3 Windsor Place |
| Cardiff |
| CF10 3BT |
| Engineering Fabrication Limited (Registered number: 03710090) |
| Report of the Directors |
| for the Year Ended 31 March 2022 |
| The directors present their report with the financial statements of the company for the year ended 31 March 2022. |
| PRINCIPAL ACTIVITY |
| The principal activity of the company in the year under review was that of the manufacture and installation of metal products. |
| DIRECTORS |
| The directors shown below have held office during the whole of the period from 1 April 2021 to the date of this report. |
| This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
| THIS REPORT WAS APPROVED BY THE BOARD: |
| Chartered Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| Engineering Fabrication Limited |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Engineering Fabrication Limited for the year ended 31 March 2022 which comprise the Profit and Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the Board of Directors of Engineering Fabrication Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Engineering Fabrication Limited and state those matters that we have agreed to state to the Board of Directors of Engineering Fabrication Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Engineering Fabrication Limited and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Engineering Fabrication Limited 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 profit of Engineering Fabrication Limited. You consider that Engineering Fabrication Limited 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 Engineering Fabrication Limited. 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. |
| Chartered Accountants |
| Engineering Fabrication Limited (Registered number: 03710090) |
| Profit and Loss Account |
| for the Year Ended 31 March 2022 |
| 2022 | 2021 |
| £ | £ |
| TURNOVER |
| Cost of sales | ( |
) | ( |
) |
| GROSS PROFIT |
| Administrative expenses | ( |
) | ( |
) |
| 95,775 | (426,457 | ) |
| Other operating income | ( |
) |
| OPERATING PROFIT |
| Interest payable and similar expenses |
( |
) |
( |
) |
| PROFIT BEFORE TAXATION |
| Tax on profit | ( |
) | ( |
) |
| PROFIT FOR THE FINANCIAL YEAR |
| Engineering Fabrication Limited (Registered number: 03710090) |
| Balance Sheet |
| 31 March 2022 |
| 2022 | 2021 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 3 |
| CURRENT ASSETS |
| Debtors | 4 |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| Engineering Fabrication Limited (Registered number: 03710090) |
| Balance Sheet - continued |
| 31 March 2022 |
| 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 were approved by the Board of Directors and authorised for issue on |
| Engineering Fabrication Limited (Registered number: 03710090) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2022 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents net invoiced sales of goods and services, excluding value added tax, in relation to the manufacture and installation of metal products. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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. |
| Pension costs |
| 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. |
| Amounts recoverable on contracts |
| Amounts recoverable on contracts are recognised by reference to the stage of completion at the year end. They will include costs to date and an element of profit based on the stage of completion. Full provision is made for losses on all contracts when they are first forseen. |
| Engineering Fabrication Limited (Registered number: 03710090) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2022 |
| 2. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 3. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and |
| machinery | fittings | Totals |
| £ | £ | £ |
| COST |
| At 1 April 2021 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 March 2022 |
| DEPRECIATION |
| At 1 April 2021 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 March 2022 |
| NET BOOK VALUE |
| At 31 March 2022 |
| At 31 March 2021 |
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Trade debtors |
| Amounts recoverable on contract |
| VAT |
| Other debtors & prepayments |
| Engineering Fabrication Limited (Registered number: 03710090) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2022 |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank overdraft |
| Trade creditors |
| Taxes & social security costs |
| Other creditors, accruals & |
| deferred income |
| 6. | TOTAL FINANCIAL COMMITMENTS |
| At 31 March 2022, the company had total financial commitments of £0 (2021 - £73,500) |