Confab Engineering Ltd - Accounts

Confab Engineering Ltd - Accounts

CONFAB ENGINEERING LTD - Company Information

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Registered Number: SC550300
Scotland

 

 

 

CONFAB ENGINEERING LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 December 2021

End date: 30 November 2022

Confab Engineering Ltd
Contents Page
For the year ended 30 November 2022
Directors Jonathan Zadok
Alan Thomas Collin
Craig Steven Meikle
Registered Number SC550300
Registered Office Unit 10 Darrows Industrial Estate
John Brannan Way
Glasgow
ML4 3HD
Accountants Turner Accountancy Limited
101 Park Street
Motherwell
ML1 1PF
1
Director's report and financial statements
The directors present their annual report and the financial statements for the year ended 30 November 2022.
Principal activities
Principal activity of the company during the financial year was that of specialist fabrication and manufacturing engineers.
Directors
The directors who served the company throughout the year were as follows:
Stuart MacDonald (from 15/11/2016 to 04/04/2023)
Jonathan Zadok (from 15/11/2016)
Alan Thomas Collin (from 15/12/2021)
Craig Steven Meikle (from 15/12/2021)



Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

This report was approved by the board and signed on its behalf by:


----------------------------------
Jonathan Zadok
Director		----------------------------------
Craig Steven Meikle
Director

Date approved: 23 August 2023
2
Accountant’s report
You consider that the company is exempt from an audit for the year ended 30 November 2022 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Turner Accountancy Limited
30 November 2022



....................................................
Turner Accountancy Limited
101 Park Street
Motherwell
ML1 1PF
23 August 2023
3
 
 		 Notes
 		 2022
£		   2021
£
Fixed assets      
Tangible fixed assets 3 156,750    122,843 
156,750    122,843 
Current assets      
Stocks 4 68,881    20,722 
Debtors 5 135,849    181,024 
Cash at bank and in hand 87,126    94,286 
291,856    296,032 
Creditors: amount falling due within one year 6 (198,258)   (191,591)
Net current assets 93,598    104,441 
 
Total assets less current liabilities 250,348    227,284 
Creditors: amount falling due after more than one year 7 (47,420)   (55,847)
Net assets 202,928    171,437 
 

Capital and reserves 		     
Called up share capital 100    100 
Profit and loss account 202,828    171,337 
Shareholder's funds 202,928    171,437 
 


For the year ended 30 November 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 23 August 2023 and were signed on its behalf by:


-------------------------------
Jonathan Zadok
Director		-------------------------------
Craig Steven Meikle
Director
4
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 December 2020 100  184,352  184,452 
Profit for the year 198,985  198,985 
Total comprehensive income for the year -  198,985  198,985 
Dividends (212,000) (212,000)
Total investments by and distributions to owners -  (212,000) (212,000)
At 30 November 2021 100  171,337  171,437 
At 01 December 2021 100  171,337  171,437 
Profit for the year 37,491  37,491 
Total comprehensive income for the year -  37,491  37,491 
Dividends (6,000) (6,000)
Total investments by and distributions to owners -  (6,000) (6,000)
At 30 November 2022 100  202,828  202,928 
5
General Information
Confab Engineering Ltd is a private company, limited by shares, registered in Scotland, registration number SC550300, registration address Unit 10 Darrows Industrial Estate, John Brannan Way, Glasgow, ML4 3HD.

The presentation currency is £ sterling.
1.

Accounting policies

Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Tangible fixed assets
Tangible fixed assets, 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:
Motor Vehicles 25% Reducing Balance
Plant and Machinery 10% Reducing Balance
Computer Equipment 25% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks 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 costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 7 (2021 : 7).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Computer Equipment   Total
  £   £   £   £
At 01 December 2021 108,483    88,954    4,988    202,425 
Additions 26,739    19,202    36,631    82,572 
Disposals -    (29,808)   -    (29,808)
At 30 November 2022 135,222    78,348    41,619    255,189 
Depreciation
At 01 December 2021 33,453    43,043    3,087    79,583 
Charge for year 10,177    12,087    9,633    31,897 
On disposals -    (13,041)   -    (13,041)
At 30 November 2022 43,630    42,089    12,720    98,439 
Net book values
Closing balance as at 30 November 2022 91,592    36,259    28,899    156,750 
Opening balance as at 01 December 2021 75,031    45,911    1,901    122,843 

The net book value of Plant and Machinery, Motor Vehicles includes £ 36,259 (2021 £52,902) in respect of assets leased under finance leases or hire purchase contracts.

4.

Stocks

2022
£		   2021
£
Work in Progress 66,881    19,207 
Stocks 2,000    1,515 
68,881    20,722 

5.

Debtors: amounts falling due within one year

2022
£		   2021
£
Trade Debtors 131,888    177,476 
Prepayments & Accrued Income 3,598    3,548 
Other Debtors 363    0 
135,849    181,024 

6.

Creditors: amount falling due within one year

2022
£		   2021
£
Trade Creditors 73,230    44,194 
Bank Loans & Overdrafts 9,909    10,648 
Corporation Tax 0    2 
PAYE & Social Security 11,535    2,949 
Accrued Expenses 48,213    35,750 
Deferred Grants 5,000    0 
Other Creditors 0    741 
Obligations under HP/Financial Leases 22,482    32,951 
Credit Card 3,967    1,700 
Pension 1,573    0 
Directors' Current Accounts 0    37,898 
VAT 22,349    24,758 
198,258    191,591 

7.

Creditors: amount falling due after more than one year

2022
£		   2021
£
Bank Loans & Overdrafts 25,824    34,027 
Deferred Grants 10,000    0 
Obligations Under HP/Financial Leases 11,596    21,820 
47,420    55,847 

6