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COMPANY REGISTRATION NUMBER: 07845645
A-Plus Trading Limited
Filleted Unaudited Financial Statements
31 March 2023
A-Plus Trading Limited
Financial Statements
Year ended 31 March 2023
Contents
Pages
Chartered accountants report to the director on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2 to 3
Notes to the financial statements
4 to 6
A-Plus Trading Limited
Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of A-Plus Trading Limited
Year ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of A-Plus Trading Limited for the year ended 31 March 2023, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of A-Plus Trading Limited in accordance with the terms of our engagement letter dated 8 December 2020. Our work has been undertaken solely to prepare for your approval the financial statements of A-Plus Trading Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than A-Plus Trading Limited and its director for our work or for this report.
It is your duty to ensure that A-Plus Trading Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of A-Plus Trading Limited. You consider that A-Plus Trading Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of A-Plus Trading Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
HEBBLETHWAITES Chartered Accountants
2 Westbrook Court Sharrow Vale Road Sheffield S11 8YZ
7 November 2023
A-Plus Trading Limited
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
348
Investments
6
1
1
----
----
349
1
Current assets
Debtors
7
214,370
61,002
Cash at bank and in hand
3,551
152,220
---------
---------
217,921
213,222
Creditors: amounts falling due within one year
8
22,258
28,847
---------
---------
Net current assets
195,663
184,375
---------
---------
Total assets less current liabilities
196,012
184,376
Creditors: amounts falling due after more than one year
9
21,271
30,704
Provisions
Taxation including deferred tax
( 450)
---------
---------
Net assets
175,191
153,672
---------
---------
A-Plus Trading Limited
Statement of Financial Position (continued)
31 March 2023
2023
2022
Note
£
£
Capital and reserves
Called up share capital
1
1
Profit and loss account
175,190
153,671
---------
---------
Shareholder funds
175,191
153,672
---------
---------
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 March 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 member has 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 7 November 2023 , and are signed on behalf of the board by:
Mr G Clark
Director
Company registration number: 07845645
A-Plus Trading Limited
Notes to the Financial Statements
Year ended 31 March 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 Hebblethwaites, 2 Westbrook Court, Sharrow Vale Road, Sheffield, S11 8YZ.
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 and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
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:
Equipment
-
33% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Investments in associates
Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 2 ).
5. Tangible assets
Equipment
Total
£
£
Cost
At 1 April 2022
14,883
14,883
Additions
522
522
--------
--------
At 31 March 2023
15,405
15,405
--------
--------
Depreciation
At 1 April 2022
14,883
14,883
Charge for the year
174
174
--------
--------
At 31 March 2023
15,057
15,057
--------
--------
Carrying amount
At 31 March 2023
348
348
--------
--------
At 31 March 2022
--------
--------
6. Investments
Shares in participating interests
£
Cost
At 1 April 2022 and 31 March 2023
1
----
Impairment
At 1 April 2022 and 31 March 2023
----
Carrying amount
At 31 March 2023
1
----
At 31 March 2022
1
----
7. Debtors
2023
2022
£
£
Trade debtors
90,188
57,805
Other debtors
124,182
3,197
---------
--------
214,370
61,002
---------
--------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
9,431
9,202
Trade creditors
5,603
551
Social security and other taxes
51
171
Other creditors
7,173
18,923
--------
--------
22,258
28,847
--------
--------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
21,271
30,704
--------
--------
Bank borrowings are in respect of support available from the Government's Covid bounce back loan scheme. This loan is repayable within 6 years from May 2020, with no repayments due for the first 12 months. Interest of 2.5% is payable monthly and the first 12 months interest was covered by the Government who also act as guarantor for the loan.
10. Director's advances, credits and guarantees
Included is debtors is a directors loan account balance of £1,616 (2022: £1,616).