Registered number
08909287
ACM Woodworking Machines Ltd
Filleted Accounts
28 February 2023
ACM Woodworking Machines Ltd
Registered number: 08909287
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Current assets
Stocks 12,708 20,205
Debtors 3 65,606 2,832
Cash at bank and in hand - 27,352
78,314 50,389
Creditors: amounts falling due within one year 4 (92,765) (32,644)
Net current (liabilities)/assets (14,451) 17,745
Total assets less current liabilities (14,451) 17,745
Net (liabilities)/assets (14,451) 17,745
Capital and reserves
Called up share capital 100 100
Profit and loss account (14,551) 17,645
Shareholders' funds (14,451) 17,745
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.
Lee Tamsett
Director
Approved by the board on 16 October 2023
ACM Woodworking Machines Ltd
Notes to the Accounts
for the year ended 28 February 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention 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 includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Debtors 2023 2022
£ £
Trade debtors 58,088 2,832
Other debtors 7,518 -
65,606 2,832
4 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 1,924 -
Trade creditors 74,202 19,696
Taxation and social security costs 15,839 9,955
Other creditors 800 2,993
92,765 32,644
5 Other information
ACM Woodworking Machines Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 25, Pier Approach Road
Gillingham
Kent
ME7 1RZ
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