Registered number
06734426
AVB Commercials Limited
Unaudited Filleted Accounts
31 December 2022
AVB Commercials Limited
Registered number: 06734426
Balance Sheet
as at 31 December 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 299,386 209,090
Current assets
Debtors 4 632,881 487,260
Cash at bank and in hand 296,694 539,595
929,575 1,026,855
Creditors: amounts falling due within one year 5 (413,267) (442,160)
Net current assets 516,308 584,695
Total assets less current liabilities 815,694 793,785
Creditors: amounts falling due after more than one year 6 (54,274) (52,129)
Provisions for liabilities (55,977) (39,084)
Net assets 705,443 702,572
Capital and reserves
Called up share capital 100 100
Profit and loss account 705,343 702,472
Shareholders' funds 705,443 702,572
The directors are 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 directors acknowledge their 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.
Alan Vacey Burton
Director
Approved by the board on 30 September 2023
AVB Commercials Limited
Notes to the Accounts
for the year ended 31 December 2022
1 Accounting policies
Statement of compliance
The accounts have been prepared in accordance with FRS 102, Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Revenue Recognition
Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances.
Revenue from the sale of goods is recognised when goods are delivered and legal title has passed.
Tangible fixed assets
Tangible fixed assets held for the company's own use are stated at cost less accumulative depreciation and any accumulative impairment losses.
Depreciation is provided at rates calculated to write off the costs of fixed assets, less their estimated residual value, over their expected useful lives on a straight line basis at rates of 10% to 25% per annum.
Assets held under finance leases are depreciated in the same way as owned assets.
At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Taxation
Taxation represents the sum of tax currently payable and deferred tax.
The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be avaliable to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on the tax rates (and tax laws) that have been enacted by the end of the reporting period.
1 Accounting policies ( continued )
Leased assets
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account on a straight line basis.
Pensions
The company operates a defined contribution pension scheme, AVB Commercials Limited Pension Scheme, and the pension charge represents the amounts payable by the company to the fund in respect of the year.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 13 14
3 Tangible fixed assets
Property improvements Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2022 24,302 219,013 347,439 590,754
Additions - 87,275 91,900 179,175
At 31 December 2022 24,302 306,288 439,339 769,929
Depreciation
At 1 January 2022 21,878 193,328 166,458 381,664
Charge for the year 2,424 11,305 75,150 88,879
At 31 December 2022 24,302 204,633 241,608 470,543
Net book value
At 31 December 2022 - 101,655 197,731 299,386
At 31 December 2021 2,424 25,685 180,981 209,090
4 Debtors 2022 2021
£ £
Trade debtors 530,301 478,224
Other debtors 102,580 9,036
632,881 487,260
5 Creditors: amounts falling due within one year 2022 2021
£ £
Bank loans and overdrafts 9,687 7,906
Obligations under finance lease and hire purchase contracts 9,866 8,883
Trade creditors 277,928 255,532
Taxation and social security costs 111,355 165,953
Other creditors 4,431 3,886
413,267 442,160
6 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 33,205 42,094
Obligations under finance lease and hire purchase contracts 21,069 10,035
54,274 52,129
7 Pension commitments
The company operates a defined contribution pension scheme, AVB Commercials Limited Pension Scheme, for the directors and employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date, unpaid contributions of £1,931 (2021 - £1,386) were due to the fund.
8 Other information
AVB Commercials Limited is a private company limited by shares and incorporated in England. Its registered office is:
First Floor
5 High Street
Westbury-on-Trym
Bristol
BS9 3BY
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