0 31/03/2023 2023-03-31 false false false false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2022-04-12 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 14042942 2022-04-12 2023-03-31 14042942 2023-03-31 14042942 bus:Director2 2022-04-12 2023-03-31 14042942 core:WithinOneYear 2023-03-31 14042942 core:ShareCapital 2023-03-31 14042942 core:RetainedEarningsAccumulatedLosses 2023-03-31 14042942 bus:SmallEntities 2022-04-12 2023-03-31 14042942 bus:AuditExempt-NoAccountantsReport 2022-04-12 2023-03-31 14042942 bus:FullAccounts 2022-04-12 2023-03-31 14042942 bus:SmallCompaniesRegimeForAccounts 2022-04-12 2023-03-31 14042942 bus:PrivateLimitedCompanyLtd 2022-04-12 2023-03-31 14042942 core:AllAssociates 2022-04-12 2023-03-31
Company registration number: 14042942
ATS Luxury Interiors Limited
Unaudited filleted financial statements
31 March 2023
ATS Luxury Interiors Limited
Contents
Statement of financial position
Notes to the financial statements
ATS Luxury Interiors Limited
Statement of financial position
31 March 2023
31/03/23
Note £ £
Current assets
Stocks 150,000
Debtors 5 199,071
Cash at bank and in hand 37,280
_______
386,351
Creditors: amounts falling due
within one year 6 ( 330,619)
_______
Net current assets 55,732
_______
Total assets less current liabilities 55,732
_______
Net assets 55,732
_______
Capital and reserves
Called up share capital 100
Profit and loss account 55,632
_______
Shareholders funds 55,732
_______
For the period 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 financial statements for the period in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 06 November 2023 , and are signed on behalf of the board by:
Mrs Deborah Ashplant
Director
Company registration number: 14042942
ATS Luxury Interiors Limited
Notes to the financial statements
Period 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 29 Daymer Gardens, Pinner, HA5 2HW.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company 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.
Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 0.
5. Debtors
31/03/23
£
Trade debtors 193,893
Prepayments and accrued income 5,178
_______
199,071
_______
6. Creditors: amounts falling due within one year
31/03/23
£
Trade creditors 85,279
Accruals and deferred income 3,000
Corporation tax 33,175
Social security and other taxes 84,240
Director loan accounts 1,480
Amounts owed to related party 123,445
_______
330,619
_______
7. Related party transactions
The following are considered to be related parties by virtue of their shareholdings and directorships in the company:D AshplantR AshplantThe following transactions took place during the year between the directors and the company:Amounts due to the related party as at 12 April 2022 : £nilPayments to related party : (£82,520)Amounts received from related party : £84,000Amounts due to the related party as at 31 March 2023 : £1,480At the balance sheet date the company owed the Directors the sum of £1,480.ATS Premier Interiors Limited is considered to be a related party by virute of it's common shareholders and directors. During the year, the company received recharged management expenses from ATS Premier Interiors Limited of £275,000 (2022: £nil). At the balance sheet date the company owed ATS Premier Interiors Limited £123,445 (2022: £nil).