Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-31Sale & maintenance of motor vehicles2021-01-01false65truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03508094 2021-01-01 2021-12-31 03508094 2020-01-01 2020-12-31 03508094 2021-12-31 03508094 2020-12-31 03508094 c:Director1 2021-01-01 2021-12-31 03508094 d:PlantMachinery 2021-01-01 2021-12-31 03508094 d:PlantMachinery 2021-12-31 03508094 d:PlantMachinery 2020-12-31 03508094 d:PlantMachinery d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 03508094 d:Goodwill 2021-12-31 03508094 d:Goodwill 2020-12-31 03508094 d:CurrentFinancialInstruments 2021-12-31 03508094 d:CurrentFinancialInstruments 2020-12-31 03508094 d:Non-currentFinancialInstruments 2021-12-31 03508094 d:Non-currentFinancialInstruments 2020-12-31 03508094 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 03508094 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 03508094 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 03508094 d:Non-currentFinancialInstruments d:AfterOneYear 2020-12-31 03508094 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2021-12-31 03508094 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2020-12-31 03508094 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2021-12-31 03508094 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2020-12-31 03508094 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2021-12-31 03508094 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2020-12-31 03508094 d:ShareCapital 2021-12-31 03508094 d:ShareCapital 2020-12-31 03508094 d:RetainedEarningsAccumulatedLosses 2021-12-31 03508094 d:RetainedEarningsAccumulatedLosses 2020-12-31 03508094 c:OrdinaryShareClass1 2021-01-01 2021-12-31 03508094 c:OrdinaryShareClass1 2021-12-31 03508094 c:OrdinaryShareClass1 2020-12-31 03508094 c:FRS102 2021-01-01 2021-12-31 03508094 c:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 03508094 c:FullAccounts 2021-01-01 2021-12-31 03508094 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 03508094 d:AcceleratedTaxDepreciationDeferredTax 2021-12-31 03508094 d:AcceleratedTaxDepreciationDeferredTax 2020-12-31 03508094 2 2021-01-01 2021-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 03508094









ALBRO (WOLVERHAMPTON) LIMITED








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

 
ALBRO (WOLVERHAMPTON) LIMITED
REGISTERED NUMBER: 03508094

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2021

2021
2020
Note
£
£

Fixed assets
  

Tangible assets
 5 
1,506
1,772

  
1,506
1,772

Current assets
  

Stocks
  
3,487
3,602

Debtors: amounts falling due within one year
 6 
9,586
31,321

Cash at bank and in hand
  
55,478
53,803

  
68,551
88,726

Creditors: amounts falling due within one year
 7 
(19,846)
(19,825)

Net current assets
  
 
 
48,705
 
 
68,901

Total assets less current liabilities
  
50,211
70,673

Creditors: amounts falling due after more than one year
 8 
(28,667)
(37,333)

Provisions for liabilities
  

Deferred tax
 10 
(287)
(373)

  
 
 
(287)
 
 
(373)

Net assets
  
21,257
32,967


Capital and reserves
  

Called up share capital 
 11 
24
24

Profit and loss account
  
21,233
32,943

  
21,257
32,967


Page 1

 
ALBRO (WOLVERHAMPTON) LIMITED
REGISTERED NUMBER: 03508094
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2021

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 31 August 2022.




B S Ghateaura
Director

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
ALBRO (WOLVERHAMPTON) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1.


General information

The company is a members limited liability company registered in England and Wales. The company's
registered office is Stanley House, 27 Wellington Road, Bilston, West Midlands WV14 6AH.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
ALBRO (WOLVERHAMPTON) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
ALBRO (WOLVERHAMPTON) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.9

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
ALBRO (WOLVERHAMPTON) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)


2.10
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
15% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 6

 
ALBRO (WOLVERHAMPTON) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.15

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

 
2.16

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.17

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2020 - 5).

Page 7

 
ALBRO (WOLVERHAMPTON) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

4.


Intangible assets




Goodwill

£



Cost


At 1 January 2021
11,000



At 31 December 2021

11,000



Amortisation


At 1 January 2021
11,000



At 31 December 2021

11,000



Net book value



At 31 December 2021
-



At 31 December 2020
-



Page 8

 
ALBRO (WOLVERHAMPTON) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

5.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 January 2021
6,500



At 31 December 2021

6,500



Depreciation


At 1 January 2021
4,728


Charge for the year on owned assets
266



At 31 December 2021

4,994



Net book value



At 31 December 2021
1,506



At 31 December 2020
1,772


6.


Debtors

2021
2020
£
£


Trade debtors
4,867
30,110

Other debtors
1,191
-

Prepayments and accrued income
2,031
1,211

Tax recoverable
1,497
-

9,586
31,321


Page 9

 
ALBRO (WOLVERHAMPTON) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

7.


Creditors: Amounts falling due within one year

2021
2020
£
£

Other loans
8,000
2,667

Trade creditors
2,930
3,273

Corporation tax
-
6,158

Other taxation and social security
183
794

Other creditors
5,836
4,036

Accruals and deferred income
2,897
2,897

19,846
19,825



8.


Creditors: Amounts falling due after more than one year

2021
2020
£
£

Bank loans
28,667
37,333

28,667
37,333


Page 10

 
ALBRO (WOLVERHAMPTON) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

9.


Loans


Analysis of the maturity of loans is given below:


2021
2020
£
£

Amounts falling due within one year

Other loans
8,000
2,667


8,000
2,667

Amounts falling due 1-2 years

Bank loans
8,000
8,000


8,000
8,000

Amounts falling due 2-5 years

Bank loans
20,667
24,000


20,667
24,000

Amounts falling due after more than 5 years

Bank loans
-
5,333

-
5,333

36,667
40,000


Page 11

 
ALBRO (WOLVERHAMPTON) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

10.


Deferred taxation




2021


£






At beginning of year
373


Charged to profit or loss
(86)



At end of year
287

The provision for deferred taxation is made up as follows:

2021
2020
£
£


Accelerated capital allowances
287
373

287
373


11.


Share capital

2021
2020
£
£
Allotted, called up and fully paid



24 (2020 - 24) ordinary shares of £1.00 each
24
24



12.


Pension commitments

During the year the company made pension contributions amounting to £62 (Nil 2020).

 
Page 12