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REGISTERED NUMBER: 03477787 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 January 2023

for

A.C. DISTRIBUTION LIMITED

A.C. DISTRIBUTION LIMITED (REGISTERED NUMBER: 03477787)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

A.C. DISTRIBUTION LIMITED

Company Information
for the Year Ended 31 January 2023







DIRECTORS: J A Sprudd
H Sprudd
A T Sprudd





SECRETARY: H Sprudd





REGISTERED OFFICE: Maritime Industrial Estate
Maesycoed
Pontypridd
Rhondda Cynon Taff
CF37 1NY





REGISTERED NUMBER: 03477787 (England and Wales)





ACCOUNTANTS: James de Frias
Chartered Accountants
Llanover House
Llanover Road
Pontypridd
Rhondda Cynon Taff
CF37 4DY

A.C. DISTRIBUTION LIMITED (REGISTERED NUMBER: 03477787)

Statement of Financial Position
31 January 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 265,650 288,826

CURRENT ASSETS
Stocks 47,957 80,991
Debtors 5 92,445 80,324
Cash at bank and in hand 205,333 230,815
345,735 392,130
CREDITORS
Amounts falling due within one year 6 297,228 295,673
NET CURRENT ASSETS 48,507 96,457
TOTAL ASSETS LESS CURRENT
LIABILITIES

314,157

385,283

CREDITORS
Amounts falling due after more than one year 7 (32,375 ) (128,032 )

PROVISIONS FOR LIABILITIES 9 (50,003 ) (54,303 )
NET ASSETS 231,779 202,948

CAPITAL AND RESERVES
Called up share capital 600 600
Retained earnings 231,179 202,348
SHAREHOLDERS' FUNDS 231,779 202,948

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

A.C. DISTRIBUTION LIMITED (REGISTERED NUMBER: 03477787)

Statement of Financial Position - continued
31 January 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 October 2023 and were signed on its behalf by:





J A Sprudd - Director


A.C. DISTRIBUTION LIMITED (REGISTERED NUMBER: 03477787)

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

1. STATUTORY INFORMATION

A.C. Distribution Limited 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.

Changes in accounting policies
During the year to 31 March 2023, The Company changed the method of depreciating its Fixed Assets from a Straight Line basis to a reducing balance basis as this revised method better reflects the entity’s consumption of all of its Fixed Assets over their useful lives and is consistent with the entity’s replacement cycle.

Turnover
Turnover is the amount derived from ordinary activities and is stated net of trade discounts, 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.
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% 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 Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Finance leases and operating leases
Assets held under finance leases are capitalised and depreciated over the shorter of their estimated useful lives or minimum lease term. The minimum lease payments due are treated as a liability.

Operating leases are charged directly to the profit and loss account as incurred.

A.C. DISTRIBUTION LIMITED (REGISTERED NUMBER: 03477787)

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

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 20 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 February 2022 55,401 471,056 134,926
Additions - - 12,000
At 31 January 2023 55,401 471,056 146,926
DEPRECIATION
At 1 February 2022 55,400 241,287 100,688
Charge for year - 22,976 6,847
At 31 January 2023 55,400 264,263 107,535
NET BOOK VALUE
At 31 January 2023 1 206,793 39,391
At 31 January 2022 1 229,769 34,238

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 February 2022 60,214 90,056 811,653
Additions - 1,525 13,525
At 31 January 2023 60,214 91,581 825,178
DEPRECIATION
At 1 February 2022 38,974 86,478 522,827
Charge for year 5,310 1,568 36,701
At 31 January 2023 44,284 88,046 559,528
NET BOOK VALUE
At 31 January 2023 15,930 3,535 265,650
At 31 January 2022 21,240 3,578 288,826

Included in Fixed Assets above, are the Net Book Value of assets held under Hire Purchase and Finance Leases, which amount to £119,418 (2022: £136,226).

A.C. DISTRIBUTION LIMITED (REGISTERED NUMBER: 03477787)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade debtors 87,121 75,000
Other debtors 5,324 5,324
92,445 80,324

All the company's trade debtors are assigned to a Factor and subject to a charge in favour of the Factor.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Bank loans and overdrafts - 38,600
Hire purchase contracts 34,257 34,257
Trade creditors 129,855 104,298
Taxation and social security 81,757 113,943
Other creditors 51,359 4,575
297,228 295,673

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.1.23 31.1.22
£    £   
Bank loans - 61,400
Hire purchase contracts 32,375 66,632
32,375 128,032

8. SECURED DEBTS

The following secured debts are included within creditors:

31.1.23 31.1.22
£    £   
Bank loans - 100,000
Hire purchase contracts 66,632 100,889
66,632 200,889

9. PROVISIONS FOR LIABILITIES
31.1.23 31.1.22
£    £   
Deferred tax
Accelerated capital allowances 50,003 54,303

Deferred
tax
£   
Balance at 1 February 2022 54,303
Accelerated capital allowances (4,300 )
Balance at 31 January 2023 50,003

A.C. DISTRIBUTION LIMITED (REGISTERED NUMBER: 03477787)

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

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2023 and 31 January 2022:

31.1.23 31.1.22
£    £   
J A Sprudd
Balance outstanding at start of year - -
Amounts advanced 39,000 -
Amounts repaid (85,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (46,000 ) -

11. ULTIMATE CONTROLLING PARTY

The controlling party is J A Sprudd.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
A.C. Distribution Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of A.C. Distribution Limited for the year ended 31 January 2023 which comprise the Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of A.C. Distribution Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of A.C. Distribution Limited and state those matters that we have agreed to state to the Board of Directors of A.C. Distribution Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than A.C. Distribution Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that A.C. Distribution Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of A.C. Distribution Limited. You consider that A.C. Distribution Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of A.C. Distribution Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






James de Frias
Chartered Accountants
Llanover House
Llanover Road
Pontypridd
Rhondda Cynon Taff
CF37 4DY


18 October 2023