AFD Management Ltd 09989427 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is management consulting. Digita Accounts Production Advanced 6.30.9574.0 true 09989427 2022-04-01 2023-03-31 09989427 2023-03-31 09989427 core:CurrentFinancialInstruments 2023-03-31 09989427 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 09989427 core:FurnitureFittings 2023-03-31 09989427 core:OfficeEquipment 2023-03-31 09989427 bus:SmallEntities 2022-04-01 2023-03-31 09989427 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 09989427 bus:FullAccounts 2022-04-01 2023-03-31 09989427 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 09989427 bus:RegisteredOffice 2022-04-01 2023-03-31 09989427 bus:Director1 2022-04-01 2023-03-31 09989427 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 09989427 core:FurnitureFittings 2022-04-01 2023-03-31 09989427 core:OfficeEquipment 2022-04-01 2023-03-31 09989427 countries:EnglandWales 2022-04-01 2023-03-31 09989427 2022-03-31 09989427 core:FurnitureFittings 2022-03-31 09989427 core:OfficeEquipment 2022-03-31 09989427 2021-04-01 2022-03-31 09989427 2022-03-31 09989427 core:CurrentFinancialInstruments 2022-03-31 09989427 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 09989427 core:FurnitureFittings 2022-03-31 09989427 core:OfficeEquipment 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 09989427

AFD Management Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

AFD Management Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

AFD Management Ltd

(Registration number: 09989427)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

8,943

2,899

Current assets

 

Debtors

5

13,225

41,792

Cash at bank and in hand

 

67,053

55,359

 

80,278

97,151

Creditors: Amounts falling due within one year

6

(17,545)

(29,435)

Net current assets

 

62,733

67,716

Net assets

 

71,676

70,615

Capital and reserves

 

Called up share capital

101

101

Retained earnings

71,575

70,514

Shareholders' funds

 

71,676

70,615

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 9 November 2023 and signed on its behalf by:
 

.........................................
A R Durdin
Director

 

AFD Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of management consulting services. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax payable.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% reducing balance basis

Fixture & Fittings

25% reducing balance basis

 

AFD Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Tangible assets

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 April 2022

1,730

3,739

5,469

Additions

-

7,308

7,308

At 31 March 2023

1,730

11,047

12,777

Depreciation

At 1 April 2022

691

1,879

2,570

Charge for the year

260

1,004

1,264

At 31 March 2023

951

2,883

3,834

Carrying amount

At 31 March 2023

779

8,164

8,943

At 31 March 2022

1,039

1,860

2,899

 

AFD Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

5

Debtors

2023
£

2022
£

Trade debtors

10,658

27,660

Prepayments

380

424

Other debtors

2,187

13,708

13,225

41,792

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

268

258

Taxation and social security

15,220

29,177

Other creditors

2,057

-

17,545

29,435

7

Related party transactions

Other transactions with directors

During the year, A Durdin had a loan with the company. At the balance sheet date the amount due to A Durdin was £124 (2022: £408 owed to the company).