Nu-Weld Engineering Services Limited - Accounts to registrar (filleted) - small 17.3

Nu-Weld Engineering Services Limited - Accounts to registrar (filleted) - small 17.3

NU-WELD ENGINEERING SERVICES LIMITED - Company Information

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REGISTERED NUMBER: 03072832 (England and Wales)















NU-WELD ENGINEERING SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2017





Folkes Worton LLP
15-17 Church Street
Stourbridge
West Midlands
DY8 1LU








NU-WELD ENGINEERING SERVICES LIMITED (REGISTERED NUMBER: 03072832)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2017










Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


NU-WELD ENGINEERING SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2017







DIRECTORS: Mr. R.M. Shimwell
Mr. S.P. Adams
Mr. J.R. Shimwell



SECRETARY: Mr. R.M. Shimwell



REGISTERED OFFICE: Hereward Rise
Halesowen
West Midlands
B62 8AN



REGISTERED NUMBER: 03072832 (England and Wales)



ACCOUNTANTS: Folkes Worton LLP
15-17 Church Street
Stourbridge
West Midlands
DY8 1LU



BANKERS: National Westminster Bank Plc
4 High Street
Solihull
West Midlands
B91 3WL
Page 1
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
NU-WELD ENGINEERING SERVICES LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual
unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file
a Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income and
certain other primary statements and the Report of the Directors are not required to be filed with the Registrar
of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the
financial statements of Nu-Weld Engineering Services Limited for the year ended 30 September 2017 which comprise
the Income Statement, Statement of Financial Position, 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 Nu-Weld Engineering Services 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 Nu-Weld Engineering Services Limited and state those matters that we have agreed to state to the Board of Directors of Nu-Weld Engineering Services 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 Nu-Weld Engineering Services Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Nu-Weld Engineering Services 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 Nu-Weld Engineering Services Limited. You consider that Nu-Weld Engineering Services 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 Nu-Weld Engineering Services 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.






Folkes Worton LLP
15-17 Church Street
Stourbridge
West Midlands
DY8 1LU


28 November 2017

This page does not form part of the statutory financial statements

Page 2
NU-WELD ENGINEERING SERVICES LIMITED (REGISTERED NUMBER: 03072832)

STATEMENT OF FINANCIAL POSITION
30 SEPTEMBER 2017

2017 2016
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 140,629 113,637

CURRENT ASSETS
Stocks 5 44,059 157,000
Debtors 6 814,710 541,521
Cash at bank and in hand 273,049 498,577
1,131,818 1,197,098
CREDITORS
Amounts falling due within one year 7 228,523 289,140
NET CURRENT ASSETS 903,295 907,958
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,043,924
1,021,595

PROVISIONS FOR LIABILITIES 26,673 22,667
NET ASSETS 1,017,251 998,928

CAPITAL AND RESERVES
Called up share capital 104 104
Retained earnings 1,017,147 998,824
SHAREHOLDERS' FUNDS 1,017,251 998,928

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2017 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 notes form part of these financial statements

Page 3 continued...
NU-WELD ENGINEERING SERVICES LIMITED (REGISTERED NUMBER: 03072832)

STATEMENT OF FINANCIAL POSITION - continued
30 SEPTEMBER 2017


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 28 November 2017 and were signed on its behalf
by:





Mr. R.M. Shimwell - Director


The notes form part of these financial statements

Page 4
NU-WELD ENGINEERING SERVICES LIMITED (REGISTERED NUMBER: 03072832)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2017


1. STATUTORY INFORMATION

Nu-Weld Engineering Services 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" 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 cost convention.

Turnover
Turnover represents sales of goods and services net of credit notes, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in
bringing stocks to their present location and condition.

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 statement of financial position date.

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.

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
Rentals paid under operating leases are charged to the profit and loss account over the period to which they
relate.

Page 5 continued...
NU-WELD ENGINEERING SERVICES LIMITED (REGISTERED NUMBER: 03072832)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2017


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2016 - 17 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 October 2016 156,769 21,090 234,842 412,701
Additions 11,784 - 58,445 70,229
Disposals (10,000 ) - (28,108 ) (38,108 )
At 30 September 2017 158,553 21,090 265,179 444,822
DEPRECIATION
At 1 October 2016 99,686 18,149 181,229 299,064
Charge for year 9,790 442 27,562 37,794
Eliminated on disposal (6,371 ) - (26,294 ) (32,665 )
At 30 September 2017 103,105 18,591 182,497 304,193
NET BOOK VALUE
At 30 September 2017 55,448 2,499 82,682 140,629
At 30 September 2016 57,083 2,941 53,613 113,637

5. STOCKS
2017 2016
£    £   
Work-in-progress 44,059 157,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Trade debtors 543,431 165,907
Other debtors 271,279 375,614
814,710 541,521

Page 6 continued...
NU-WELD ENGINEERING SERVICES LIMITED (REGISTERED NUMBER: 03072832)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2017


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Trade creditors 132,702 127,960
Taxation and social security 43,493 60,221
Other creditors 52,328 100,959
228,523 289,140

8. RELATED PARTY DISCLOSURES

Mr R.M. Shimwell, a director of the company, is also a director of Midlands Traffic Management Limited, Wells
Development Company Limited and DRS Management Limited.

During the year, the company made sales of £14,863 (2016 £53,707) to Midlands Traffic Management Limited
and £2,894 (2016 £18,980) to Wells Development Company Limited.

Also during the year, the company was charged £83,647 (2016 £99,784) by Midlands Traffic Management
Limited for sub contract work and plant hire.

At the balance sheet date, the company owed £6,039 (2016 was owed £2,252 by) to Midlands Traffic
Management Limited and was owed £49,484 (2016 £46,011) by Wells Development Company Limited.

9. CONTROL

The ultimate controlling party is Mr. R.M. Shimwell by virtue of his shareholdings.

Page 7