Registered number: 03860114
A - Z Engineering Limited
Financial Statements
31 December 2022
A - Z Engineering Limited
Registered number: 03860114
Balance Sheet
as at 31 December 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 842,011 978,720
Current assets
Stocks 90,000 90,000
Debtors 4 442,531 312,238
Cash at bank and in hand 304,395 87,253
836,926 489,491
Creditors: amounts falling due within one year 5 (414,471) (404,366)
Net current assets 422,455 85,125
Total assets less current liabilities 1,264,466 1,063,845
Creditors: amounts falling due after more than one year 6 (332,014) (511,314)
Provisions for liabilities (150,376) (174,260)
Net assets 782,076 378,271
Capital and reserves
Called up share capital 200 200
Profit and loss account 781,876 378,071
Shareholders' funds 782,076 378,271
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.
Mr Roger Jones
Director
Approved by the board on 13 October 2023
A - Z Engineering Limited
Notes to the Accounts
for the year ended 31 December 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 (as applied to small entities by section 1A of the standard).
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:
Property improvements 10% Reducing balance
Plant & Machinery 20% & 50% Reducing balance
Motor Vehicles 25% Reducing balance
Fixtures & Fittings 20% Reducing balance
Computer Equipment 50% Reducing balance
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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
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 19 19
3 Tangible fixed assets
Property Improvements Plant and machinery etc Motor vehicles Computer equipment
£ £ £ £
Cost
At 1 January 2022 16,349 2,031,446 51,470 35,629
Additions - 27,674 - 838
Disposals - (19,785) - -
At 31 December 2022 16,349 2,039,335 51,470 36,467
Depreciation
At 1 January 2022 - 1,108,336 30,874 30,810
Charge for the year 1,635 153,037 5,150 2,834
On disposals - (19,664) - -
At 31 December 2022 1,635 1,241,709 36,024 33,644
Net book value
At 31 December 2022 14,714 797,626 15,446 2,823
At 31 December 2021 16,349 923,110 20,596 4,819
Fixtures and fittings Total
£ £
Cost
At 1 January 2022 74,860 2,209,754
Additions 406 28,918
Surplus on revaluation - -
Disposals - (19,785)
At 31 December 2022 75,266 2,218,887
Depreciation
At 1 January 2022 61,014 1,231,034
Charge for the year 2,850 165,506
Surplus on revaluation - -
On disposals - (19,664)
At 31 December 2022 63,864 1,376,876
Net book value
At 31 December 2022 11,402 842,011
At 31 December 2021 13,846 978,720
4 Debtors 2022 2021
£ £
Trade debtors 438,752 307,711
Other debtors 3,779 4,527
442,531 312,238
5 Creditors: amounts falling due within one year 2022 2021
£ £
Bank loans and overdrafts 698 1,142
Obligations under finance lease and hire purchase contracts 159,971 201,851
Trade creditors 107,203 132,105
Taxation and social security costs 136,752 61,707
Other creditors 9,847 7,561
414,471 404,366
6 Creditors: amounts falling due after one year 2022 2021
£ £
Obligations under finance lease and hire purchase contracts 328,121 483,967
Other creditors 3,893 27,347
332,014 511,314
7 Related party transactions
Included within other creditors due after more than one year is a loan from Mr Roger Jones, a director. The balance due at 31 December 2022 was £3,893 (2020: £27,059).
8 Other information
A - Z Engineering Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit I Cargotec Industrial Park
Elson Road
Ellesmere
Shropshire
SY12 9JW
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