Registered number
00930870
ALL CERAMICS LIMITED
Unaudited Accounts
30 April 2023
ALL CERAMICS LIMITED
Registered number: 00930870
Balance Sheet
as at 30 April 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 239,831 240,712
Investments 4 790,000 840,000
1,029,831 1,080,712
Current assets
Debtors 5 97,873 113,142
Cash at bank and in hand 12,563 41,459
110,436 154,601
Creditors: amounts falling due within one year 6 (36,784) (43,849)
Net current assets 73,652 110,752
Total assets less current liabilities 1,103,483 1,191,464
Provisions for liabilities (88,515) (98,015)
Net assets 1,014,968 1,093,449
Capital and reserves
Called up share capital 2,500 2,500
Share premium 5,775 5,775
Revaluation reserve 7 436,161 476,661
Profit and loss account 570,532 608,513
Shareholders' funds 1,014,968 1,093,449
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
DEREK NIGHTINGALE
Director
Approved by the board on 19 October 2023
ALL CERAMICS LIMITED
Notes to the Accounts
for the year ended 30 April 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention, modified to include the revaluation of certain assets and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land or investment properties, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Freehold buildings 2% straight line on cost
Plant & machinery 15% reducing balance basis
Freehold investment property
Investment properties - under FRS 102 valuations are carried our annually at fair value. The properties have been valued by the directors of the company. Changes in fair value are reported in the profit and loss account for the period. The directors subsequently transfer any such changes to a revaluation reserve. FRS 102 requires an amount of deferred tax to be provided being an estimate of the tax payable in the event that the properties were to be disposed of at the current fair value. No depreciation is provided in respect of investment properties.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Lease commitments
Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 3
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 May 2022 361,031 190,727 551,758
At 30 April 2023 361,031 190,727 551,758
Depreciation
At 1 May 2022 126,190 184,856 311,046
Charge for the year - 881 881
At 30 April 2023 126,190 185,737 311,927
Net book value
At 30 April 2023 234,841 4,990 239,831
At 30 April 2022 234,841 5,871 240,712
Freehold land and buildings include land with a value of £50,000 on which no depreciation charge is made.
In accordance with the stated accounting policy, no depreciation was required to the buildings in the year because the residual value of the buildings are considered to be equal to net book value.
4 Investments
Freehold
investment
properties
£
Fair value
At 1 May 2022 840,000
Revaluation (50,000)
At 30 April 2023 790,000
Historical cost
At 1 May 2022 265,324
At 30 April 2023 265,324
The freehold investment properties were valued in April 2023 by the directors of the company.
5 Debtors 2023 2022
£ £
Trade debtors 39,048 53,202
Other debtors 58,825 59,940
97,873 113,142
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 8,360 10,360
Taxation and social security costs 3,934 14,734
Other creditors 24,490 18,755
36,784 43,849
7 Revaluation reserve 2023 2022
£ £
At 1 May 2022 476,661 444,261
(Loss)/gain on revaluation of land and buildings (50,000) 40,000
Deferred taxation arising on the revaluation of land and buildings 9,500 (7,600)
At 30 April 2023 436,161 476,661
8 Other financial commitments 2023 2022
£ £
Total future minimum payments under non-cancellable operating leases 6,141 10,326
9 Other information
ALL CERAMICS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
94 Elm Road
New Malden
Surrey
KT3 3HW
These accounts are presented in Sterling, which is the functional currency of the company.
10 Related party transactions
A loan has been made to the company of £20,000 by The Surrey Milling Centre Ltd, a trading business in which the directors are materially interested as shareholders and directors. This loan was outstanding at the year end . The loan made to the company is unsecured and interest free.
During the year a loan of £49,000 was made by the company to ADG Dental Services, a trading partnership in which the directors are materially interested as partners, which remained outstanding at the year end . The loan made by the company is unsecured and interest free.
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