Registered number
08552844
Active Contracting Services Limited
Report and Accounts
31 March 2023
Active Contracting Services Limited
Registered number: 08552844
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 2,481 3,307
Current assets
Debtors 4 - 3,860
Cash at bank and in hand 74,942 74,496
74,942 78,356
Creditors: amounts falling due within one year 5 (6,538) (18,581)
Net current assets 68,404 59,775
Net assets 70,885 63,082
Capital and reserves
Called up share capital 100 100
Profit and loss account 70,785 62,982
Shareholders' funds 70,885 63,082
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.
J Murphy
Director
Approved by the board on 21 August 2023
Active Contracting Services Limited
Notes to the Accounts
for the year ended 31 March 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).
Going Concern
After reviewing the company’s expectations and future trading conditions, the directors have a reasonable expectation that the company has adequate resources to continue in operational
existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
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. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Motor Vehicles over 5 years
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. 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.
Grants
Grants are recognised in the profit or loss, receivable in line with expenditure with which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2022 285 5,879 6,164
At 31 March 2023 285 5,879 6,164
Depreciation
At 1 April 2022 285 2,572 2,857
Charge for the year - 826 826
At 31 March 2023 285 3,398 3,683
Net book value
At 31 March 2023 - 2,481 2,481
At 31 March 2022 - 3,307 3,307
4 Debtors 2023 2022
£ £
Trade debtors - 3,860
5 Creditors: amounts falling due within one year 2023 2022
£ £
Corporation tax 2,493 5,660
Other taxes and social security costs (7,440) (8,969)
Other creditors 11,485 21,890
6,538 18,581
6 Other information
Active Contracting Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
6 Carlton Road
Romford
Essex
RM2 5AA
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