REGISTERED NUMBER: 01202760 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2017

FOR

A. & J. FABTECH LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Amanda Falsey

Mark Alan Wright

Alan David Wright

SECRETARY:

Amanda Falsey

REGISTERED OFFICE:

700 Bretton Way

Bretton Park Ind Estate

Dewsbury

West Yorkshire

WF12 9BD

REGISTERED NUMBER:

01202760 (England and Wales)

ACCOUNTANTS:

Walter Dawson & Son

7 Wellington Road East

Dewsbury

West Yorkshire

WF13 1HF

FIXED ASSETS

Intangible assets

4

198,121

-

Tangible assets

5

2,751,030

2,778,680

Investments

6

150

250

2,949,301

2,778,930

CURRENT ASSETS

Stocks

760,152

54,524

Debtors

7

1,199,933

1,218,110

Cash at bank and in hand

1,823

148

1,961,908

1,272,782

CREDITORS

Amounts falling due within one year

8

3,152,905

2,409,109

NET CURRENT LIABILITIES

(1,190,997

)

(1,136,327

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,758,304

1,642,603

CREDITORS

Amounts falling due after more than one year

9

499,970

507,140

NET ASSETS

1,258,334

1,135,463

CAPITAL AND RESERVES

Called up share capital

285

285

Capital redemption reserve

515

515

Profit and loss account

1,257,534

1,134,663

SHAREHOLDERS' FUNDS

1,258,334

1,135,463

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors on 29 November 2017 and were signed on its behalf by:

Amanda Falsey - Director

Alan David Wright - Director

1.	STATUTORY INFORMATION

A. & J. Fabtech 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 is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill has been capitalised and fully amortised on a staright line basis over its useful economic life

of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are

measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of four years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks and work in progress

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.

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 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.

Hire purchase and leasing commitments

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 53 (2016 - 45 ) .

4.	INTANGIBLE FIXED ASSETS

Development

Goodwill

costs

Totals

£

£

£

COST

At 1 March 2016

5,300

-

5,300

Additions

-

198,121

198,121

At 28 February 2017

5,300

198,121

203,421

AMORTISATION

At 1 March 2016

and 28 February 2017

5,300

-

5,300

NET BOOK VALUE

At 28 February 2017

-

198,121

198,121

At 29 February 2016

-

-

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 March 2016

2,836,765

574,649

97,915

20,865

3,530,194

Additions

-

50,843

23,515

-

74,358

At 28 February 2017

2,836,765

625,492

121,430

20,865

3,604,552

DEPRECIATION

At 1 March 2016

324,937

338,139

72,874

15,564

751,514

Charge for year

45,090

44,227

8,450

4,241

102,008

At 28 February 2017

370,027

382,366

81,324

19,805

853,522

NET BOOK VALUE

At 28 February 2017

2,466,738

243,126

40,106

1,060

2,751,030

At 29 February 2016

2,511,828

236,510

25,041

5,301

2,778,680

Included in cost of land and buildings is freehold land of £ 570,226 (2016 - £ 570,226 ) which is not

depreciated.

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 March 2016

250

Impairments

(100

)

At 28 February 2017

150

NET BOOK VALUE

At 28 February 2017

150

At 29 February 2016

250

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

803,686

938,755

Amounts owed by group undertakings

158,269

143,832

Amounts owed by related parties

87,804

89,754

Other debtors

150,174

45,769

1,199,933

1,218,110

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

326,280

273,225

Hire purchase contracts (see note 10)

6,809

11,071

Trade creditors

752,963

460,967

Taxation and social security

197,332

263,260

Other creditors

1,869,521

1,400,586

3,152,905

2,409,109

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans

493,658

493,658

Hire purchase contracts (see note 10)

6,312

13,482

499,970

507,140

2017

2016

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

352,618

352,618

10.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2017

2016

£

£

Net obligations repayable:

Within one year

6,809

11,071

Between one and five years

6,312

13,482

13,121

24,553

Non-cancellable

operating leases

2017

2016

£

£

Within one year

47,837

13,947

Between one and five years

39,882

22,145

In more than five years

21,785

-

109,504

36,092

11.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank overdrafts

291,020

237,965

Bank loans

528,918

528,918

Hire purchase contracts

13,121

24,553

833,059

791,436

The bank loan and overdraft are secured by a charge on the company's assets, by a debenture and a

group cross guarantee.

The obligations under finance lease and hire purchase contracts are secured by a charge on the assets

purchased under these agreements.

12.	CONTINGENT LIABILITIES

The company bankers hold as security a cross guarantee between A&J Fabtech Limited, and its

subsidiary companies.

The total obligation under this agreement as at 28 February 2017 was £7 (2016: £122).

13.	RELATED PARTY DISCLOSURES

During the year ended 28 February 2017, the following transactions took place between A&J Fabtech

Limited, and its other group companies:

1. A & J Fabtech Limited provided subcontract labour to A & J Ekstroms Limited to a value of £Nil

(2016: £82,260).

2. A & J Fabtech Limited provided management and administrative support and recharged expenses

to Roberttown Ironworks Limited of £Nil (2016: £13,000).

3. On 28 February 2017 the loan due from Roberttown Ironworks Limited of £2,696 was written off

as the company has been subsequently dissolved on 16 May 2017.

Amanda Falsey, a director and shareholder, is also a director and controlling shareholder of AWA

Consultancy Services Limited, who provide bookkeeping and financial services to the company.

During the year ended 28 February 2017 AWA Consultancy Services was paid £10,000 (2016:

£13,680) for its services.

Debtors as at 28 February 2017 include the following group and related party balances, Roberttown

Ironworks Limited £Nil (2016: £2,696), A & J Ekstroms Limited £158,269 (2016: £141,136) and

Leyden Precision Engineering Limited £87,804 (2016: £89,754).

Creditors as at 28 February 2017 include the following directors loan accounts Alan David Wright

£1,121,032 (£1,024,611), Amanda Falsey £112,259 (2016: £166,241) and Mark Alan Wright £Nil

(2016: £13,958).