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REGISTERED NUMBER: 07234733 (England and Wales)





























Unaudited Financial Statements for the Year Ended 31 March 2023

for

AAF Components Ltd

AAF Components Ltd (Registered number: 07234733)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AAF Components Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTORS: M J Dawson
Mrs J M Ormrod



REGISTERED OFFICE: Unit 6 Quest Park
Moss Hall Road
Bury
Lancashire
BL9 7JZ



REGISTERED NUMBER: 07234733 (England and Wales)



ACCOUNTANTS: DonnellyBentley Limited
Chartered Accountants
Hazlemere
70 Chorley New Road
Bolton
Lancashire
BL1 4BY



BANKERS: Barclays Bank plc

AAF Components Ltd (Registered number: 07234733)

Balance Sheet
31 March 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 52,455 59,802

CURRENT ASSETS
Stocks 25,000 19,000
Debtors 5 80,288 92,969
Cash at bank 56,402 39,437
161,690 151,406
CREDITORS
Amounts falling due within one year 6 (93,301 ) (95,722 )
NET CURRENT ASSETS 68,389 55,684
TOTAL ASSETS LESS CURRENT
LIABILITIES

120,844

115,486

CREDITORS
Amounts falling due after more than one
year

7

(58,590

)

(67,500

)

PROVISIONS FOR LIABILITIES 8 (9,966 ) (11,362 )
NET ASSETS 52,288 36,624

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 52,188 36,524
SHAREHOLDERS' FUNDS 52,288 36,624

AAF Components Ltd (Registered number: 07234733)

Balance Sheet - continued
31 March 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

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.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 August 2023 and were signed on its behalf by:





M J Dawson - Director


AAF Components Ltd (Registered number: 07234733)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

AAF Components Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 20% on reducing balance
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

AAF Components Ltd (Registered number: 07234733)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2022 13,036 206,812 34,134 19,950 273,932
Additions - - 5,450 - 5,450
At 31 March 2023 13,036 206,812 39,584 19,950 279,382
DEPRECIATION
At 1 April 2022 10,191 159,729 27,773 16,437 214,130
Charge for year 572 9,418 1,929 878 12,797
At 31 March 2023 10,763 169,147 29,702 17,315 226,927
NET BOOK VALUE
At 31 March 2023 2,273 37,665 9,882 2,635 52,455
At 31 March 2022 2,845 47,083 6,361 3,513 59,802

AAF Components Ltd (Registered number: 07234733)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 April 2022 61,128
Transfer to ownership (61,128 )
At 31 March 2023 -
DEPRECIATION
At 1 April 2022 38,567
Transfer to ownership (38,567 )
At 31 March 2023 -
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 22,561

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 72,530 90,650
Tax 5,000 -
Prepayments 2,758 2,319
80,288 92,969

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,000 9,000
Hire purchase contracts - 6,253
Trade creditors 42,199 49,297
Corporation tax 14,972 11,828
Social security and other taxes 2,735 2,039
VAT 10,793 12,790
Other creditors 2,277 1,399
Directors' loan accounts 9,023 891
Accrued expenses 2,302 2,225
93,301 95,722

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 9,000 9,000
Bank loans - 2-5 years 10,590 19,500
Directors' loan accounts 39,000 39,000
58,590 67,500

AAF Components Ltd (Registered number: 07234733)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 9,966 11,362

Deferred
tax
£   
Balance at 1 April 2022 11,362
Provided during year (1,396 )
Balance at 31 March 2023 9,966

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100