Silverfin false 30/04/2023 01/05/2022 30/04/2023 Mr C P Holbrook 12/03/1996 Mr P G Lazenbury 12/03/1996 23 October 2023 The principal activity of the Company during the financial year was that of road marking. 03170894 2023-04-30 03170894 bus:Director1 2023-04-30 03170894 bus:Director2 2023-04-30 03170894 2022-04-30 03170894 core:CurrentFinancialInstruments 2023-04-30 03170894 core:CurrentFinancialInstruments 2022-04-30 03170894 core:ShareCapital 2023-04-30 03170894 core:ShareCapital 2022-04-30 03170894 core:RetainedEarningsAccumulatedLosses 2023-04-30 03170894 core:RetainedEarningsAccumulatedLosses 2022-04-30 03170894 core:PlantMachinery 2022-04-30 03170894 core:Vehicles 2022-04-30 03170894 core:FurnitureFittings 2022-04-30 03170894 core:PlantMachinery 2023-04-30 03170894 core:Vehicles 2023-04-30 03170894 core:FurnitureFittings 2023-04-30 03170894 bus:OrdinaryShareClass1 2023-04-30 03170894 2022-05-01 2023-04-30 03170894 bus:FullAccounts 2022-05-01 2023-04-30 03170894 bus:SmallEntities 2022-05-01 2023-04-30 03170894 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 03170894 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 03170894 bus:Director1 2022-05-01 2023-04-30 03170894 bus:Director2 2022-05-01 2023-04-30 03170894 core:PlantMachinery 2022-05-01 2023-04-30 03170894 core:Vehicles 2022-05-01 2023-04-30 03170894 core:FurnitureFittings 2022-05-01 2023-04-30 03170894 2021-05-01 2022-04-30 03170894 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 03170894 bus:OrdinaryShareClass1 2021-05-01 2022-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 03170894 (England and Wales)

AVON ROAD MARK LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2023
Pages for filing with the registrar

AVON ROAD MARK LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2023

Contents

AVON ROAD MARK LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 April 2023
AVON ROAD MARK LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 April 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 24,184 31,034
24,184 31,034
Current assets
Stocks 54,727 48,687
Debtors 4 312,058 239,433
Cash at bank and in hand 172,419 245,906
539,204 534,026
Creditors: amounts falling due within one year 5 ( 369,907) ( 367,506)
Net current assets 169,297 166,520
Total assets less current liabilities 193,481 197,554
Provision for liabilities ( 6,046) ( 7,604)
Net assets 187,435 189,950
Capital and reserves
Called-up share capital 6 10,000 10,000
Profit and loss account 177,435 179,950
Total shareholders' funds 187,435 189,950

For the financial 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.

Directors' responsibilities:

The financial statements of Avon Road Mark Limited (registered number: 03170894) were approved and authorised for issue by the Director on 23 October 2023. They were signed on its behalf by:

Mr C P Holbrook
Director
AVON ROAD MARK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2023
AVON ROAD MARK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Avon Road Mark Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Bishop Fleming Llp, 10 Temple Back, Bristol, BS1 6FL, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Pensions

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in creditors as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 14 14

3. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Total
£ £ £ £
Cost
At 01 May 2022 139,732 158,261 12,148 310,141
Additions 392 0 830 1,222
Disposals ( 184) 0 0 ( 184)
At 30 April 2023 139,940 158,261 12,978 311,179
Accumulated depreciation
At 01 May 2022 124,468 144,080 10,559 279,107
Charge for the financial year 3,911 3,546 605 8,062
Disposals ( 174) 0 0 ( 174)
At 30 April 2023 128,205 147,626 11,164 286,995
Net book value
At 30 April 2023 11,735 10,635 1,814 24,184
At 30 April 2022 15,264 14,181 1,589 31,034

4. Debtors

2023 2022
£ £
Trade debtors 302,358 227,491
Prepayments 9,000 11,242
Other debtors 700 700
312,058 239,433

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 41,949 41,548
Amounts owed to directors 149,469 154,614
Accruals and deferred income 4,494 5,417
Corporation tax 73,080 71,760
Other taxation and social security 28,140 28,365
Other creditors 72,775 65,802
369,907 367,506

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
10,000 Ordinary shares of £ 1.00 each 10,000 10,000

7. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2023 2022
£ £
- within one year 78,000 75,000

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

2023 2022
£ £
Unpaid contributions due to the fund (inc. in other creditors) 0 1,647

8. Related party transactions

The company occupies premises owned by the directors for which rent of £78,000 (2022: £75,000) was payable during the year.

At the year end, the directors were owed £149,469 (2022: £154,614) by the company. This balance has no fixed date for repayment and is free from interest.