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COMPANY REGISTRATION NUMBER: 02104927
ALUMINIUM MOULD-SET COMPANY LIMITED
Unaudited Financial Statements
31 December 2021
ALUMINIUM MOULD-SET COMPANY LIMITED
Financial Statements
Year ended 31st December 2021
Contents
Page
Director's report
1
Statement of income and retained earnings
2
Statement of financial position
3
Notes to the financial statements
5
ALUMINIUM MOULD-SET COMPANY LIMITED
Director's Report
Year ended 31st December 2021
The director presents his report and the unaudited financial statements of the company for the year ended 31 December 2021 .
Director
The director who served the company during the year was as follows:
R Z Kilim
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 15 August 2022 and signed on behalf of the board by:
R Z Kilim
Director
Registered office:
150 Coles Green Road
Staples Corner
London NW2 7JL
ALUMINIUM MOULD-SET COMPANY LIMITED
Statement of Income and Retained Earnings
Year ended 31st December 2021
2021
2020
Note
£
£
Turnover
10,666
32,842
Cost of sales
42,729
34,660
--------
--------
Gross loss
( 32,063)
( 1,818)
Administrative expenses
50,119
53,409
Other operating income
29,804
27,083
--------
--------
Operating loss
( 52,378)
( 28,144)
--------
--------
Loss before taxation
5
( 52,378)
( 28,144)
Tax on loss
--------
--------
Loss for the financial year and total comprehensive income
( 52,378)
( 28,144)
--------
--------
Retained losses at the start of the year
( 253,026)
( 224,882)
---------
---------
Retained losses at the end of the year
( 305,404)
( 253,026)
---------
---------
All the activities of the company are from continuing operations.
ALUMINIUM MOULD-SET COMPANY LIMITED
Statement of Financial Position
31 December 2021
2021
2020
Note
£
£
£
Fixed assets
Intangible assets
6
1
1
Tangible assets
7
113,049
104,531
---------
---------
113,050
104,532
Current assets
Stocks
3,500
3,500
Debtors
8
1,903
1,542
Cash at bank and in hand
8,580
10,609
--------
--------
13,983
15,651
Creditors: amounts falling due within one year
9
432,337
373,109
---------
---------
Net current liabilities
418,354
357,458
---------
---------
Total assets less current liabilities
( 305,304)
( 252,926)
---------
---------
Net liabilities
( 305,304)
( 252,926)
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 305,404)
( 253,026)
---------
---------
Shareholders deficit
( 305,304)
( 252,926)
---------
---------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 31st December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
ALUMINIUM MOULD-SET COMPANY LIMITED
Statement of Financial Position (continued)
31 December 2021
These financial statements were approved by the board of directors and authorised for issue on 15 August 2022 , and are signed on behalf of the board by:
R Z Kilim
Director
Company registration number: 02104927
ALUMINIUM MOULD-SET COMPANY LIMITED
Notes to the Financial Statements
Year ended 31st December 2021
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 150 Coles Green Road, Staples Corner, London NW2 7JL.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Patents
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property
-
2% straight line
Plant and machinery
-
20% straight line
Fixture and fittings
-
20% straight line
Motor vehicles
-
20% straight line
Equipment
-
20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2020: 2 ).
5. Profit before taxation
Profit before taxation is stated after charging:
2021
2020
£
£
Depreciation of tangible assets
8,912
6,342
-------
-------
6. Intangible assets
Goodwill
£
Cost
At 1st January 2021 and 31st December 2021
11,078
--------
Amortisation
At 1st January 2021 and 31st December 2021
11,077
--------
Carrying amount
At 31st December 2021
1
--------
At 31st December 2020
1
--------
7. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
£
Cost
At 1 Jan 2021
130,937
86,769
4,482
14,191
21,952
258,331
Additions
17,430
17,430
---------
---------
-------
--------
--------
---------
At 31 Dec 2021
130,937
104,199
4,482
14,191
21,952
275,761
---------
---------
-------
--------
--------
---------
Depreciation
At 1 Jan 2021
44,748
69,076
4,477
14,190
21,309
153,800
Charge for the year
1,760
7,024
128
8,912
---------
---------
-------
--------
--------
---------
At 31 Dec 2021
46,508
76,100
4,477
14,190
21,437
162,712
---------
---------
-------
--------
--------
---------
Carrying amount
At 31 Dec 2021
84,429
28,099
5
1
515
113,049
---------
---------
-------
--------
--------
---------
At 31 Dec 2020
86,189
17,693
5
1
643
104,531
---------
---------
-------
--------
--------
---------
8. Debtors
2021
2020
£
£
Trade debtors
467
1,369
Other debtors
1,436
173
-------
-------
1,903
1,542
-------
-------
9. Creditors: amounts falling due within one year
2021
2020
£
£
Bank loans and overdrafts
880
1
Trade creditors
168
449
Social security and other taxes
932
55
Other creditors
430,357
372,604
---------
---------
432,337
373,109
---------
---------
10. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2021
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
R Z Kilim
( 370,000)
210
( 57,963)
( 427,753)
---------
----
--------
---------
2020
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
R Z Kilim
( 357,099)
453
( 13,354)
( 370,000)
---------
----
--------
---------
11. Related party transactions
The company was under the control of Mr R Z Kilim throughout the current and previous year. There were no related party transactions.