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REGISTERED NUMBER: 07502269 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

FOR

AFFORDABLE SHUTTERS LIMITED

AFFORDABLE SHUTTERS LIMITED (REGISTERED NUMBER: 07502269)






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


AFFORDABLE SHUTTERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2023







DIRECTORS: P M J Vincent
Mrs M A Vincent





REGISTERED OFFICE: Bryndon House
5/7 Berry Road
Newquay
Cornwall
TR7 AD





REGISTERED NUMBER: 07502269 (England and Wales)





ACCOUNTANTS: Whitakers
Chartered Accountants
Bryndon House
5/7 Berry Road
Newquay
Cornwall
TR7 1AD

AFFORDABLE SHUTTERS LIMITED (REGISTERED NUMBER: 07502269)

STATEMENT OF FINANCIAL POSITION
31 JANUARY 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 86,780 69,844

CURRENT ASSETS
Debtors 5 314,322 273,246
Cash in hand 660 319
314,982 273,565
CREDITORS
Amounts falling due within one year 6 335,173 286,959
NET CURRENT LIABILITIES (20,191 ) (13,394 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

66,589

56,450

CREDITORS
Amounts falling due after more than one
year

7

(55,658

)

(50,013

)

PROVISIONS FOR LIABILITIES (9,189 ) (1,325 )
NET ASSETS 1,742 5,112

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 1,740 5,110
SHAREHOLDERS' FUNDS 1,742 5,112

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.

AFFORDABLE SHUTTERS LIMITED (REGISTERED NUMBER: 07502269)

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 13 October 2023 and were signed on its behalf by:




P M J Vincent - Director



Mrs M A Vincent - Director


AFFORDABLE SHUTTERS LIMITED (REGISTERED NUMBER: 07502269)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1. STATUTORY INFORMATION

Affordable Shutters 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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.

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.

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.

AFFORDABLE SHUTTERS LIMITED (REGISTERED NUMBER: 07502269)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 February 2022 17,997 82,018 6,431 106,446
Additions - 54,480 - 54,480
Disposals - (26,019 ) - (26,019 )
At 31 January 2023 17,997 110,479 6,431 134,907
DEPRECIATION
At 1 February 2022 12,600 17,661 6,341 36,602
Charge for year 810 17,206 14 18,030
Eliminated on disposal - (6,505 ) - (6,505 )
At 31 January 2023 13,410 28,362 6,355 48,127
NET BOOK VALUE
At 31 January 2023 4,587 82,117 76 86,780
At 31 January 2022 5,397 64,357 90 69,844

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 February 2022 82,018
Additions 54,480
Disposals (26,019 )
At 31 January 2023 110,479
DEPRECIATION
At 1 February 2022 17,661
Charge for year 17,206
Eliminated on disposal (6,505 )
At 31 January 2023 28,362
NET BOOK VALUE
At 31 January 2023 82,117
At 31 January 2022 64,357

AFFORDABLE SHUTTERS LIMITED (REGISTERED NUMBER: 07502269)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

5. DEBTORS
31.1.23 31.1.22
£    £   
Amounts falling due within one year:
Trade debtors 176,227 195,145
Other debtors 2,144 1,986
Directors' current accounts 100,173 42,871
278,544 240,002

Amounts falling due after more than one year:
S455 Corporation tax
recoverable 35,778 33,244
35,778 33,244

Aggregate amounts 314,322 273,246

The debtor in respect of the directors' current accounts relates to amounts owing from Mr & Mrs P Vincent jointly.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Bank loans and overdrafts 72,200 20,641
Other loans 28,000 -
Hire purchase contracts 14,388 10,240
Trade creditors 6,788 -
Corporation tax 67,679 42,841
Social security and other taxes 35,844 81,340
Other creditors 1,426 455
Accruals & deferred income 108,848 131,442
335,173 286,959

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.23 31.1.22
£    £   
Bank loans - 1-2 years 8,572 11,143
Hire purchase contracts 47,086 38,870
55,658 50,013

AFFORDABLE SHUTTERS LIMITED (REGISTERED NUMBER: 07502269)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

31.1.23 31.1.22
£    £   
Hire purchase contracts 61,474 49,110

The hire purchase liability is secured by means of a first charge over the asset(s) specified in the relevant agreement(s).

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

31.1.23 31.1.22
£    £   
P M J Vincent and Mrs M A Vincent
Balance outstanding at start of year 42,871 9,028
Amounts advanced 174,915 200,490
Amounts repaid (117,613 ) (166,647 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 100,173 42,871

For the period under review, the company was controlled by its directors, Mr P Vincent & Mrs M Vincent, by virtue of the fact that, between them, they own 100% of the company's issued Ordinary share capital.

During the year, the company also rented premises owned personally by Mr & Mrs Vincent at a cost to the company of £14,400. The directors have given a personal guarantee relating to the company's business premises which is held as security for any bank overdraft.

Interest at the official rate has been charged by the company on amounts advanced to the directors during the period.