Aafer Limited 08164551 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is that of specialist medical practice activities. Digita Accounts Production Advanced 6.30.9574.0 true true 08164551 2022-04-01 2023-03-31 08164551 2023-03-31 08164551 core:RetainedEarningsAccumulatedLosses 2023-03-31 08164551 core:ShareCapital 2023-03-31 08164551 core:CurrentFinancialInstruments 2023-03-31 08164551 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 08164551 core:MotorVehicles 2023-03-31 08164551 core:OfficeEquipment 2023-03-31 08164551 core:PlantMachinery 2023-03-31 08164551 bus:SmallEntities 2022-04-01 2023-03-31 08164551 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 08164551 bus:FullAccounts 2022-04-01 2023-03-31 08164551 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 08164551 bus:RegisteredOffice 2022-04-01 2023-03-31 08164551 bus:CompanySecretaryDirector1 2022-04-01 2023-03-31 08164551 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 08164551 core:ComputerEquipment 2022-04-01 2023-03-31 08164551 core:MotorVehicles 2022-04-01 2023-03-31 08164551 core:OfficeEquipment 2022-04-01 2023-03-31 08164551 core:PlantMachinery 2022-04-01 2023-03-31 08164551 core:Vehicles 2022-04-01 2023-03-31 08164551 countries:EnglandWales 2022-04-01 2023-03-31 08164551 2022-03-31 08164551 core:MotorVehicles 2022-03-31 08164551 core:OfficeEquipment 2022-03-31 08164551 core:PlantMachinery 2022-03-31 08164551 2021-04-01 2022-03-31 08164551 2022-03-31 08164551 core:RetainedEarningsAccumulatedLosses 2022-03-31 08164551 core:ShareCapital 2022-03-31 08164551 core:CurrentFinancialInstruments 2022-03-31 08164551 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 08164551 core:MotorVehicles 2022-03-31 08164551 core:OfficeEquipment 2022-03-31 08164551 core:PlantMachinery 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 08164551

Aafer Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

Aafer Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Aafer Limited

Company Information

Director

Mrs SMH Fernandes

Company secretary

Mrs SMH Fernandes

Registered office

1-2 Rhodium Point Spindle Close
Hawkinge
Folkestone
Kent
CT18 7TQ

Accountants

Beresfords
Chartered Certified Accountants
1-2 Rhodium Point
Spindle Close
Hawkinge
Folkestone
Kent
CT18 7TQ

 

Aafer Limited

(Registration number: 08164551)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

63,005

49,193

Investments

5

7,010

7,010

 

70,015

56,203

Current assets

 

Debtors

6

72,380

55,185

Cash at bank and in hand

 

464,522

369,067

 

536,902

424,252

Creditors: Amounts falling due within one year

7

(48,736)

(58,206)

Net current assets

 

488,166

366,046

Total assets less current liabilities

 

558,181

422,249

Provisions for liabilities

(15,751)

(12,297)

Net assets

 

542,430

409,952

Capital and reserves

 

Called up share capital

104

104

Retained earnings

542,326

409,848

Shareholders' funds

 

542,430

409,952

 

Aafer Limited

(Registration number: 08164551)
Balance Sheet as at 31 March 2023 (continued)

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 20 November 2023

.........................................
Mrs SMH Fernandes
Company secretary and director

   
     
 

Aafer Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1-2 Rhodium Point Spindle Close
Hawkinge
Folkestone
Kent
CT18 7TQ

The financial statements are presented in sterling, which is the functional currency of the company and rounded to the nearest £1.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements are prepared on a going concern basis and there are no material uncertainties that cast significant doubt on the Company’s ability to continue as a going concern.

 

Aafer Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)

2

Accounting policies (continued)

Judgements

No judgements have been made in the process of applying the accounting policies that have had a significant effect on the amounts recognised in the financial statements.

No key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date which have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year have been made.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Finance income and costs policy

Interest income is recognised in the profit and loss account using the effective interest method.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

Aafer Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)

2

Accounting policies (continued)

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

20% reducing balance

Computer equipment

25% reducing balance

Plant and machinery

20% on cost

Investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Aafer Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)

2

Accounting policies (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of Income and Retained earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 5 (2022 - 4).

 

Aafer Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)

4

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2022

9,641

10,862

48,240

68,743

Additions

10,363

2,928

53,190

66,481

Disposals

-

(5,240)

(48,240)

(53,480)

At 31 March 2023

20,004

8,550

53,190

81,744

Depreciation

At 1 April 2022

-

7,490

12,060

19,550

Charge for the year

4,001

1,483

10,638

16,122

Eliminated on disposal

-

(4,873)

(12,060)

(16,933)

At 31 March 2023

4,001

4,100

10,638

18,739

Carrying amount

At 31 March 2023

16,003

4,450

42,552

63,005

At 31 March 2022

9,641

3,372

36,180

49,193

5

Investments

Cost or valuation

2023
£

2022
£

Unlisted shares

7,010

7,010

6

Debtors

Current

2023
£

2022
£

Trade debtors

72,380

55,185

 

Aafer Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

167

167

Trade creditors

 

3,376

424

Taxation and social security

 

40,382

54,754

Accruals and deferred income

 

2,160

2,186

Other creditors

 

2,651

675

 

48,736

58,206

8

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Directors current account

167

167