Metallic Fabrications Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03148243 (England and Wales)

ABRIDGED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2018

FOR

METALLIC FABRICATIONS LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

7

DIRECTORS:

Mr D A Crossley

Mr K Rayiru

Mr S Henderson

SECRETARY:

Mr D A Crossley

REGISTERED OFFICE:

212 Street 7

Thorp Arch Estate

Wetherby

Yorkshire

LS23 7FL

REGISTERED NUMBER:

03148243 (England and Wales)

ACCOUNTANTS:

G L Barker & Co LLP

Chartered Certified Accountants

49 Austhorpe Road

Cross Gates

Leeds

LS15 8BA

FIXED ASSETS

Tangible assets

4

190,228

143,888

CURRENT ASSETS

Stocks

177,790

190,900

Debtors

491,868

574,142

Cash at bank

141,832

228,983

811,490

994,025

CREDITORS

Amounts falling due within one year

643,428

854,718

NET CURRENT ASSETS

168,062

139,307

TOTAL ASSETS LESS CURRENT LIABILITIES

358,290

283,195

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

358,190

283,095

SHAREHOLDERS' FUNDS

358,290

283,195

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 January 2018 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 20 June 2018 and were signed on its behalf by:

Mr D A Crossley - Director

Mr K Rayiru - Director

Mr S Henderson - Director

1.	STATUTORY INFORMATION

Metallic Fabrications Ltd 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 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 net invoiced sales of goods and services, excluding value added tax, except in respect of

service contracts where turnover is recognised when the company obtains the right to consideration.

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.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

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.

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 38 (2017 - 44 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 February 2017

631,582

Additions

146,236

Disposals

(281,016

)

At 31 January 2018

496,802

DEPRECIATION

At 1 February 2017

487,694

Charge for year

63,603

Eliminated on disposal

(244,723

)

At 31 January 2018

306,574

NET BOOK VALUE

At 31 January 2018

190,228

At 31 January 2017

143,888

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

Totals

£

COST

At 1 February 2017

157,923

Additions

142,339

Disposals

(54,281

)

Transfer to ownership

(13,460

)

At 31 January 2018

232,521

DEPRECIATION

At 1 February 2017

67,666

Charge for year

50,214

Eliminated on disposal

(28,213

)

Transfer to ownership

(7,782

)

At 31 January 2018

81,885

NET BOOK VALUE

At 31 January 2018

150,636

At 31 January 2017

90,257

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2018 and

31 January 2017:

31.1.18

31.1.17

£

£

Mr K Rayiru

Balance outstanding at start of year

38,804

-

Amounts advanced

-

40,550

Amounts repaid

(22,043

)

(1,746

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

16,761

38,804

During 2016 Mr Rayiru, a director, received a loan of £40,200 from the company. He started making regular

repayments from January 2017. The amount outstanding at the year end was £16,761 (2017 - £38,804). Interest

is being charged at the official HMRC beneficial loan rate.

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 Balance Sheet. Readers are cautioned that the Income Statement 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 Metallic Fabrications Ltd for the year ended 31 January 2018 which comprise the Profit and Loss

Account, Abridged Balance Sheet, Statement of Changes in Equity 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Metallic Fabrications Ltd, 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 Metallic Fabrications Ltd and state those matters that we have agreed to state to the Board of Directors of Metallic Fabrications Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Metallic Fabrications Ltd 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 Metallic Fabrications Ltd. You consider that Metallic Fabrications Ltd 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 Metallic Fabrications Ltd. 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.

G L Barker & Co LLP

Chartered Certified Accountants

49 Austhorpe Road

Cross Gates

Leeds

LS15 8BA

25 July 2018