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REGISTERED NUMBER: 04699783 (England and Wales)















Financial Statements for the Year Ended 30 April 2023

for

Advance Metal Components Limited

Advance Metal Components Limited (Registered number: 04699783)






Contents of the Financial Statements
for the Year Ended 30 April 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Advance Metal Components Limited

Company Information
for the Year Ended 30 April 2023







DIRECTORS: S Hambrook
Mrs D A Hambrook
C S Hambrook
A Powell





SECRETARY: Mrs D A Hambrook





REGISTERED OFFICE: Units 12-14
Minters Industrial Estate
Southwall Road
Deal
CT14 9PZ





REGISTERED NUMBER: 04699783 (England and Wales)





ACCOUNTANTS: A.K & Co (Accountancy Services) Ltd
19 Victoria Terrace
Hove
East Sussex
BN3 2WB

Advance Metal Components Limited (Registered number: 04699783)

Balance Sheet
30 April 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 335,338 432,036
335,338 432,036

CURRENT ASSETS
Stocks 25,000 70,000
Debtors 6 81,709 74,723
Cash at bank 10,973 25,943
117,682 170,666
CREDITORS
Amounts falling due within one year 7 189,028 293,300
NET CURRENT LIABILITIES (71,346 ) (122,634 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

263,992

309,402

CREDITORS
Amounts falling due after more than one
year

8

(94,693

)

(23,461

)

PROVISIONS FOR LIABILITIES 9 (75,585 ) (75,454 )
NET ASSETS 93,714 210,487

CAPITAL AND RESERVES
Called up share capital 10 136 136
Share premium 99,966 99,966
Retained earnings (6,388 ) 110,385
SHAREHOLDERS' FUNDS 93,714 210,487

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

Advance Metal Components Limited (Registered number: 04699783)

Balance Sheet - continued
30 April 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 October 2023 and were signed on its behalf by:




S Hambrook - Director Mrs D A Hambrook - Director




C S Hambrook - Director


Advance Metal Components Limited (Registered number: 04699783)

Notes to the Financial Statements
for the Year Ended 30 April 2023

1. STATUTORY INFORMATION

Advance Metal Components 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 etc - 25% on reducing balance and 15% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Advance Metal Components Limited (Registered number: 04699783)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2022
and 30 April 2023 25,000
AMORTISATION
At 1 May 2022
and 30 April 2023 25,000
NET BOOK VALUE
At 30 April 2023 -
At 30 April 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2022 1,170,125
Additions 322
Disposals (1,200 )
At 30 April 2023 1,169,247
DEPRECIATION
At 1 May 2022 738,089
Charge for year 96,693
Eliminated on disposal (873 )
At 30 April 2023 833,909
NET BOOK VALUE
At 30 April 2023 335,338
At 30 April 2022 432,036

Advance Metal Components Limited (Registered number: 04699783)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 May 2022
and 30 April 2023 708,576
DEPRECIATION
At 1 May 2022 392,875
Charge for year 78,925
At 30 April 2023 471,800
NET BOOK VALUE
At 30 April 2023 236,776
At 30 April 2022 315,701

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 65,976 57,594
Other debtors 15,733 17,129
81,709 74,723

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 35,859 42,168
Hire purchase contracts 27,715 103,796
Trade creditors 65,013 68,963
Taxation and social security 6,627 9,664
Other creditors 53,814 68,709
189,028 293,300

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 94,693 23,461

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 75,585 75,454

Advance Metal Components Limited (Registered number: 04699783)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 May 2022 75,454
Provided during year 131
Balance at 30 April 2023 75,585

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
136 Ordinary £1 136 136

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2023 and 30 April 2022:

2023 2022
£    £   
S Hambrook and Mrs D A Hambrook
Balance outstanding at start of year (53,708 ) (92,528 )
Amounts advanced 14,895 38,820
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (38,813 ) (53,708 )

C S Hambrook
Balance outstanding at start of year (1 ) (1 )
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1 ) (1 )

12. ULTIMATE CONTROLLING PARTY

No one individual person has overall control of the company.