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COMPANY REGISTRATION NUMBER: 06808019
AI & ZA GRANT LTD
Filleted Unaudited Financial Statements
31 March 2023
AI & ZA GRANT LTD
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
91,217
58,137
Current assets
Stocks
5,800
5,800
Debtors
6
147,864
178,969
Cash at bank and in hand
123,172
256,801
---------
---------
276,836
441,570
Creditors: amounts falling due within one year
7
218,494
322,590
---------
---------
Net current assets
58,342
118,980
---------
---------
Total assets less current liabilities
149,559
177,117
---------
---------
Net assets
149,559
177,117
---------
---------
Capital and reserves
Called up share capital
200
200
Profit and loss account
149,359
176,917
---------
---------
Shareholders funds
149,559
177,117
---------
---------
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 statement of income and retained earnings has not been delivered.
For the 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 financial statements for the year 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 .
AI & ZA GRANT LTD
Statement of Financial Position (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 4 August 2023 , and are signed on behalf of the board by:
Mr Z Grant
Director
Company registration number: 06808019
AI & ZA GRANT LTD
Notes to the Financial Statements
Year 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 Unit 4, Burnette Trading Estate, Coxs Green, Wrington, Bristol, BS40 5QR.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & machinery
-
20% straight line
Equipment
-
20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist.
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 stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 16 (2022: 16 ).
5. Tangible assets
Plant and machinery
Equipment
Total
£
£
£
Cost
At 1 April 2022
246,405
5,388
251,793
Additions
73,456
73,456
Disposals
( 53,950)
( 53,950)
---------
-------
---------
At 31 March 2023
265,911
5,388
271,299
---------
-------
---------
Depreciation
At 1 April 2022
191,417
2,239
193,656
Charge for the year
39,589
787
40,376
Disposals
( 53,950)
( 53,950)
---------
-------
---------
At 31 March 2023
177,056
3,026
180,082
---------
-------
---------
Carrying amount
At 31 March 2023
88,855
2,362
91,217
---------
-------
---------
At 31 March 2022
54,988
3,149
58,137
---------
-------
---------
6. Debtors
2023
2022
£
£
Trade debtors
144,327
176,290
Other debtors
3,537
2,679
---------
---------
147,864
178,969
---------
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
136,129
189,024
Corporation tax
27,991
Social security and other taxes
22,426
47,508
Other creditors
59,939
58,067
---------
---------
218,494
322,590
---------
---------