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COMPANY REGISTRATION NUMBER: 12403626
Afan Treescapes Limited
Filleted Unaudited Financial Statements
31 January 2023
Afan Treescapes Limited
Statement of Financial Position
31 January 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
56,861
60,429
Current assets
Debtors
6
115,310
160,571
Cash at bank and in hand
45,092
---------
---------
160,402
160,571
Creditors: amounts falling due within one year
7
200,091
216,112
---------
---------
Net current liabilities
39,689
55,541
--------
--------
Total assets less current liabilities
17,172
4,888
Provisions
3,615
3,274
--------
-------
Net assets
13,557
1,614
--------
-------
Capital and reserves
Called up share capital
100
100
Profit and loss account
13,457
1,514
--------
-------
Shareholders funds
13,557
1,614
--------
-------
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 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Afan Treescapes Limited
Statement of Financial Position (continued)
31 January 2023
These financial statements were approved by the board of directors and authorised for issue on 18 October 2023 , and are signed on behalf of the board by:
Mr A D Williams
Director
Company registration number: 12403626
Afan Treescapes Limited
Notes to the Financial Statements
Year ended 31 January 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 Water Street, Margam, Port Talbot, SA13 2PA.
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.
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.
Taxation
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.
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
-
25% reducing balance
Fixtures and fittings
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2022: 4 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 February 2022
40,000
4,327
36,245
80,572
Additions
1,035
18,124
19,159
Disposals
( 6,000)
( 6,000)
--------
-------
--------
--------
At 31 January 2023
34,000
5,362
54,369
93,731
--------
-------
--------
--------
Depreciation
At 1 February 2022
10,000
1,082
9,061
20,143
Charge for the year
7,125
525
11,327
18,977
Disposals
( 2,250)
( 2,250)
--------
-------
--------
--------
At 31 January 2023
14,875
1,607
20,388
36,870
--------
-------
--------
--------
Carrying amount
At 31 January 2023
19,125
3,755
33,981
56,861
--------
-------
--------
--------
At 31 January 2022
30,000
3,245
27,184
60,429
--------
-------
--------
--------
6. Debtors
2023
2022
£
£
Trade debtors
115,210
159,924
Amounts owed by group undertakings and undertakings in which the company has a participating interest
100
100
Other debtors
547
---------
---------
115,310
160,571
---------
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
26,936
Amounts owed to group undertakings and undertakings in which the company has a participating interest
149,155
213,035
Social security and other taxes
22,750
1,473
Other creditors
1,250
1,604
---------
---------
200,091
216,112
---------
---------