Company registration number 00877200 (England and Wales)
AUBREY CORNFOOT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
PAGES FOR FILING WITH REGISTRAR
AUBREY CORNFOOT LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
AUBREY CORNFOOT LIMITED
BALANCE SHEET
AS AT
30 APRIL 2023
30 April 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
53,019
17,330
Current assets
Stocks
29,410
25,332
Debtors
4
17,150
40,601
Cash at bank and in hand
92,953
101,731
139,513
167,664
Creditors: amounts falling due within one year
5
(90,636)
(119,267)
Net current assets
48,877
48,397
Total assets less current liabilities
101,896
65,727
Creditors: amounts falling due after more than one year
6
(22,435)
(32,387)
Provisions for liabilities
(5,796)
-
0
Net assets
73,665
33,340
Capital and reserves
Called up share capital
1,900
1,900
Capital redemption reserve
700
700
Profit and loss reserves
71,065
30,740
Total equity
73,665
33,340

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

AUBREY CORNFOOT LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2023
30 April 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 26 September 2023 and are signed on its behalf by:
Mr R Smith
Director
Company Registration No. 00877200
AUBREY CORNFOOT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
- 3 -
1
Accounting policies
Company information

Aubrey Cornfoot Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5-7 Bowsden Terrace, South Gosforth, Newcastle Upon Tyne, Tyne And Wear, United Kingdom, NE3 1RX.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

 

1.2
Turnover

Turnover represents net invoiced sales of goods and services, excluding VAT.

 

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
15% on reducing balance
Computer equipment
15% on reducing balance
Motor vehicles
25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks are stated at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

 

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

AUBREY CORNFOOT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences. Such liabilities are not recognised if the timing difference arises in a transaction that affects neither the tax profit nor the accounting profit.

 

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled. Deferred tax is charged or credited in the profit and loss account.

1.6
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.8
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 11 (2022 - 12).

2023
2022
Number
Number
Total
11
12
AUBREY CORNFOOT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 5 -
3
Tangible fixed assets
Plant and machinery
Computer equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 May 2022
13,482
128
109,698
123,308
Additions
5,865
568
42,480
48,913
Disposals
-
0
-
0
(30,971)
(30,971)
At 30 April 2023
19,347
696
121,207
141,250
Depreciation and impairment
At 1 May 2022
11,036
103
94,839
105,978
Depreciation charged in the year
440
66
9,351
9,857
Eliminated in respect of disposals
-
0
-
0
(27,604)
(27,604)
At 30 April 2023
11,476
169
76,586
88,231
Carrying amount
At 30 April 2023
7,871
527
44,621
53,019
At 30 April 2022
2,446
25
14,859
17,330
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
10,955
37,290
Other debtors
6,195
3,311
17,150
40,601
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
9,952
9,707
Trade creditors
46,098
58,232
Corporation tax
10,909
7,430
Other taxation and social security
5,182
6,309
Other creditors
18,495
37,589
90,636
119,267
AUBREY CORNFOOT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 6 -
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
22,435
32,387
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