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COMPANY REGISTRATION NUMBER: 4655102
A S Read Limited
Filleted Unaudited Financial Statements
30 April 2023
A S Read Limited
Statement of Financial Position
30 April 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
893
3,031
Current assets
Debtors
6
336
30
Cash at bank and in hand
199
3,321
----
-------
535
3,351
Creditors: amounts falling due within one year
7
1,299
5,777
-------
-------
Net current liabilities
764
2,426
----
-------
Total assets less current liabilities
129
605
----
----
Net assets
129
605
----
----
Capital and reserves
Called up share capital
100
100
Profit and loss account
29
505
----
----
Shareholders funds
129
605
----
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 29 September 2023 , and are signed on behalf of the board by:
A S Read Esq
Director
Company registration number: 4655102
A S Read Limited
Notes to the Financial Statements
Year ended 30 April 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is TML House, 1a The Anchorage, Gosport, Hampshire, PO12 1LY.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
No significant judgements have been made by the director in preparing these financial statements.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
15% reducing balance
4. Staff
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Tangible assets
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 May 2022
609
16,194
1,914
18,717
Disposals
( 16,194)
( 16,194)
----
--------
-------
--------
At 30 April 2023
609
1,914
2,523
----
--------
-------
--------
Depreciation
At 1 May 2022
180
14,213
1,293
15,686
Charge for the year
23
134
157
Disposals
( 14,213)
( 14,213)
----
--------
-------
--------
At 30 April 2023
203
1,427
1,630
----
--------
-------
--------
Carrying amount
At 30 April 2023
406
487
893
----
--------
-------
--------
At 30 April 2022
429
1,981
621
3,031
----
--------
-------
--------
6. Debtors
2023
2022
£
£
Other debtors
336
30
----
----
7. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
379
1,139
Social security and other taxes
15
Other creditors
905
4,638
-------
-------
1,299
5,777
-------
-------
8. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
A S Read Esq
( 3,819)
4,154
335
-------
-------
----
2022
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
A S Read Esq
( 7,606)
3,787
( 3,819)
-------
-------
-------