Registered number
04366507
Albro Door Systems Limited
Financial Statements for the Year Ended
28 February 2022
Albro Door Systems Limited
Registered number: 04366507
Balance Sheet
as at 28 February 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 5,748 6,013
Current assets
Stocks 3,800 4,280
Debtors 4 118,686 59,650
Cash at bank and in hand 22,301 53,513
144,787 117,443
Creditors: amounts falling due within one year 5 (103,503) (104,929)
Net current assets 41,284 12,514
Net assets 47,032 18,527
Capital and reserves
Called up share capital 100 100
Profit and loss account 46,932 18,427
Shareholders' funds 47,032 18,527
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr. N.C.J. Allcock
Director
Approved by the board on 5 September 2022
Albro Door Systems Limited
Notes to the Accounts
for the year ended 28 February 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% of net book value
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Plant and machinery
£
Cost
At 1 March 2021 16,644
Additions 749
At 28 February 2022 17,393
Depreciation
At 1 March 2021 10,631
Charge for the year 1,014
At 28 February 2022 11,645
Net book value
At 28 February 2022 5,748
At 28 February 2021 6,013
4 Debtors 2022 2021
£ £
Trade debtors 99,556 59,650
Other debtors 19,130 -
118,686 59,650
5 Creditors: amounts falling due within one year 2022 2021
£ £
Trade creditors 81,699 84,831
Corporation tax 18,884 13,410
Other taxes and social security costs 1,377 5,505
Other creditors 1,543 1,183
103,503 104,929
6 Other information
Albro Door Systems Limited is a private company limited by shares and incorporated in England. Its registered office is Nova House, Audley Avenue Enterprise Park, Newport, Shropshire, TF10 7DW.
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