| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2018 |
| FOR |
| A. & J. FABTECH LIMITED |
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2018 |
| FOR |
| A. & J. FABTECH LIMITED |
| A. & J. FABTECH LIMITED (REGISTERED NUMBER: 01202760) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 28 FEBRUARY 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| A. & J. FABTECH LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 28 FEBRUARY 2018 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 7 Wellington Road East |
| Dewsbury |
| West Yorkshire |
| WF13 1HF |
| A. & J. FABTECH LIMITED (REGISTERED NUMBER: 01202760) |
| BALANCE SHEET |
| 28 FEBRUARY 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Investments | 6 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 9 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Capital redemption reserve |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| A. & J. FABTECH LIMITED (REGISTERED NUMBER: 01202760) |
| BALANCE SHEET - continued |
| 28 FEBRUARY 2018 |
| 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. |
| 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 |
| A. & J. FABTECH LIMITED (REGISTERED NUMBER: 01202760) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 28 FEBRUARY 2018 |
| 1. | STATUTORY INFORMATION |
| A. & J. Fabtech Limited is a |
| registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Related party exemption |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The |
| Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party |
| transactions with wholly owned subsidiaries within the group. |
| 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. |
| Tangible fixed assets |
| Freehold property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| 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. |
| A. & J. FABTECH LIMITED (REGISTERED NUMBER: 01202760) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 28 FEBRUARY 2018 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Income recognition |
| Income is recognised when services have been completed and goods have been delivered to customers such that the |
| risks and rewards of ownership have transferred to them. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| A. & J. FABTECH LIMITED (REGISTERED NUMBER: 01202760) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 28 FEBRUARY 2018 |
| 4. | INTANGIBLE FIXED ASSETS |
| Development |
| Goodwill | costs | Totals |
| £ | £ | £ |
| COST |
| At 1 March 2017 |
| Additions |
| At 28 February 2018 |
| AMORTISATION |
| At 1 March 2017 |
| and 28 February 2018 |
| NET BOOK VALUE |
| At 28 February 2018 |
| At 28 February 2017 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Freehold | Plant and | and | Motor |
| property | machinery | fittings | vehicles | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 March 2017 |
| Additions |
| At 28 February 2018 |
| DEPRECIATION |
| At 1 March 2017 |
| Charge for year |
| At 28 February 2018 |
| NET BOOK VALUE |
| At 28 February 2018 |
| At 28 February 2017 |
| Included in cost of land and buildings is freehold land of £ 570,226 (2017 - £ 570,226 ) which is not depreciated. |
| A. & J. FABTECH LIMITED (REGISTERED NUMBER: 01202760) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 28 FEBRUARY 2018 |
| 6. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 March 2017 |
| and 28 February 2018 |
| NET BOOK VALUE |
| At 28 February 2018 |
| At 28 February 2017 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts (see note 10) |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Bank loans |
| Hire purchase contracts (see note 10) |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans | 352,618 | 352,618 |
| A. & J. FABTECH LIMITED (REGISTERED NUMBER: 01202760) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 28 FEBRUARY 2018 |
| 10. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase contracts |
| 2018 | 2017 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Non-cancellable |
| operating leases |
| 2018 | 2017 |
| £ | £ |
| Within one year |
| Between one and five years |
| 11. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2018 | 2017 |
| £ | £ |
| Bank overdrafts |
| Bank loans |
| Hire purchase contracts | 32,186 | 13,121 |
| 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 2018 was £Nil (2017: £7). |
| A. & J. FABTECH LIMITED (REGISTERED NUMBER: 01202760) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 28 FEBRUARY 2018 |
| 13. | RELATED PARTY DISCLOSURES |
| Alan David Wright, through his ownership of A & J Fabtech Limited who own the share capital, has control over a |
| majority of shares in the company, and together with his involvement in its day-to-day management, is deemed to |
| be the controlling party for the purposes of Financial Reporting Standard No. 102. |
| 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 2018 AWA Consultancy Services was paid £Nil (2017: £10,000) for its services. |
| Creditors as at 28 February 2018 include the following directors loan accounts Alan David Wright £585,242 |
| (£1,121,032), Amanda Falsey £241,013 (2017: £112,259 and Mark Wright £180,094 (2017: £Nil). |
| On 28 February 2017 the loan due from Roberttown Ironworks Limited, a group company, of £2,696 was written |
| off as the company has been subsequently dissolved on 16 May 2017. |
| Debtors as at 28 February 2018 include the following group balance, A & J Ekstroms Limited £159,769 (2017: |
| £158,269). |