Company No:
Contents
Note | 2023 | 2022 | ||
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Fixed assets | ||||
Intangible assets | 4 |
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Tangible assets | 5 |
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44,030 | 19,296 | |||
Current assets | ||||
Debtors | 6 |
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Cash at bank and in hand |
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596,271 | 468,186 | |||
Creditors: amounts falling due within one year | 7 | (
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Net current assets | 100,894 | 74,930 | ||
Total assets less current liabilities | 144,924 | 94,226 | ||
Creditors: amounts falling due after more than one year | 8 | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital | 9 |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Architrail Velosolutions UK Limited (registered number:
P A Saxena
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Architrail Velosolutions UK Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 2 Brewery Court North Street, Bedminster, Bristol, BS3 1JS, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Goodwill |
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Plant and machinery |
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Vehicles |
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Office equipment |
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Computer equipment |
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Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Government grants are accounted for under the accruals method. These are credited to the profit and loss account when the company is entitled to the income.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.
2023 | 2022 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Goodwill | Total | ||
£ | £ | ||
Cost | |||
At 01 March 2022 |
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At 28 February 2023 |
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Accumulated amortisation | |||
At 01 March 2022 |
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Charge for the financial year |
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At 28 February 2023 |
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Net book value | |||
At 28 February 2023 |
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At 28 February 2022 |
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Plant and machinery | Vehicles | Office equipment | Computer equipment | Total | |||||
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Cost | |||||||||
At 01 March 2022 |
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Additions |
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Disposals |
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At 28 February 2023 |
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Accumulated depreciation | |||||||||
At 01 March 2022 |
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Charge for the financial year |
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Disposals |
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At 28 February 2023 |
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Net book value | |||||||||
At 28 February 2023 |
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At 28 February 2022 |
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2023 | 2022 | ||
£ | £ | ||
Trade debtors |
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Amounts owed by directors |
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Prepayments and accrued income |
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Other debtors |
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£ | £ | ||
Bank loans and overdrafts |
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Trade creditors |
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Accruals and deferred income |
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Taxation and social security |
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Obligations under finance leases and hire purchase contracts |
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Other creditors |
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2023 | 2022 | ||
£ | £ | ||
Bank loans |
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Obligations under finance leases and hire purchase contracts |
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Other creditors |
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2023 | 2022 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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100 | 100 |
Other financial commitments
As at 28 February 2023 the company had future minimum lease payments under non-cancellable operating leases of £14,000 (2022 — £28,000).
Transactions with the entity's directors
2023 | 2022 | ||
£ | £ | ||
Advances to directors | 84,041 | 134,222 |
Advances
Other related party transactions
At the year end the company was owed £91,964 by a company connected by virtue of common control.