IRIS Accounts Production v23.3.1.45 07187396 director 1.4.22 31.3.23 31.3.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure071873962022-03-31071873962023-03-31071873962022-04-012023-03-31071873962021-03-31071873962021-04-012022-03-31071873962022-03-3107187396ns16:EnglandWales2022-04-012023-03-3107187396ns15:PoundSterling2022-04-012023-03-3107187396ns11:Director12022-04-012023-03-3107187396ns11:PrivateLimitedCompanyLtd2022-04-012023-03-3107187396ns11:SmallEntities2022-04-012023-03-3107187396ns11:AuditExemptWithAccountantsReport2022-04-012023-03-3107187396ns11:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3107187396ns11:SmallCompaniesRegimeForAccounts2022-04-012023-03-3107187396ns11:FullAccounts2022-04-012023-03-3107187396ns11:RegisteredOffice2022-04-012023-03-3107187396ns6:CurrentFinancialInstruments2023-03-3107187396ns6:CurrentFinancialInstruments2022-03-3107187396ns6:Non-currentFinancialInstruments2023-03-3107187396ns6:Non-currentFinancialInstruments2022-03-3107187396ns6:ShareCapital2023-03-3107187396ns6:ShareCapital2022-03-3107187396ns6:RetainedEarningsAccumulatedLosses2023-03-3107187396ns6:RetainedEarningsAccumulatedLosses2022-03-3107187396ns6:PlantMachinery2022-04-012023-03-3107187396ns6:PlantMachinery2022-03-3107187396ns6:PlantMachinery2023-03-3107187396ns6:PlantMachinery2022-03-3107187396ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2022-03-3107187396ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2022-04-012023-03-3107187396ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2023-03-3107187396ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2022-03-3107187396ns6:WithinOneYearns6:CurrentFinancialInstruments2023-03-3107187396ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-3107187396ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2023-03-3107187396ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2022-03-31
REGISTERED NUMBER: 07187396 (England and Wales)










A RATED HOME IMPROVEMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






A RATED HOME IMPROVEMENTS LIMITED (REGISTERED NUMBER: 07187396)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 8

A RATED HOME IMPROVEMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: A Collins





REGISTERED OFFICE: Unit 14/15 Mardon Park
Central Avenue
Baglan Energy Park
Baglan
Port Talbot
SA12 7AX





REGISTERED NUMBER: 07187396 (England and Wales)





ACCOUNTANTS: Bevan Buckland LLP
Ground Floor Cardigan House
Castle Court
Swansea Enterprise Park
Swansea
SA7 9LA

A RATED HOME IMPROVEMENTS LIMITED (REGISTERED NUMBER: 07187396)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 154,030 105,823

CURRENT ASSETS
Stocks 102,557 205,618
Debtors 5 404,361 204,880
Cash at bank 92,101 206,818
599,019 617,316
CREDITORS
Amounts falling due within one year 6 536,828 507,670
NET CURRENT ASSETS 62,191 109,646
TOTAL ASSETS LESS CURRENT
LIABILITIES

216,221

215,469

CREDITORS
Amounts falling due after more than one
year

7

(138,857

)

(109,149

)

PROVISIONS FOR LIABILITIES (48,747 ) (77,197 )
NET ASSETS 28,617 29,123

CAPITAL AND RESERVES
Called up share capital 8 8
Retained earnings 28,609 29,115
SHAREHOLDERS' FUNDS 28,617 29,123

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 November 2023 and were signed by:





A Collins - Director


A RATED HOME IMPROVEMENTS LIMITED (REGISTERED NUMBER: 07187396)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

A Rated Home Improvements Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 20% on cost

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

A RATED HOME IMPROVEMENTS LIMITED (REGISTERED NUMBER: 07187396)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Functional and presentation currency
The company's functional and presentation currency is pounds sterling.

Cash at bank and cash in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at transaction price.

Going Concern
The company continues to adopt the going concern basis in preparing its financial statements.

Warranty provision
The company provides a 10 year warranty to account for the cost of the warranty. A range of 1 - 3% of turnover has been provided. Once the product is over 10 years old the warranty provision is released.

A RATED HOME IMPROVEMENTS LIMITED (REGISTERED NUMBER: 07187396)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Trade debtors, loans and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as 'loans and receivables'. Loans and receivables are measured at amortised cost using the effective interest method, less any impairment.

Interest is recognised by applying the effective interest rate, except for short-term receivables when the recognition of interest would be immaterial. The effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating the interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts through the expected life of the debt instrument to the net carrying amount on initial recognition.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities
Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables 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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.


A RATED HOME IMPROVEMENTS LIMITED (REGISTERED NUMBER: 07187396)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued
Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 50 (2022 - 44 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 284,475
Additions 93,367
Disposals (47,456 )
At 31 March 2023 330,386
DEPRECIATION
At 1 April 2022 178,652
Charge for year 31,963
Eliminated on disposal (34,259 )
At 31 March 2023 176,356
NET BOOK VALUE
At 31 March 2023 154,030
At 31 March 2022 105,823

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2022 155,294
Disposals (17,595 )
At 31 March 2023 137,699
DEPRECIATION
At 1 April 2022 99,330
Charge for year 8,823
Eliminated on disposal (4,399 )
At 31 March 2023 103,754
NET BOOK VALUE
At 31 March 2023 33,945
At 31 March 2022 55,964

A RATED HOME IMPROVEMENTS LIMITED (REGISTERED NUMBER: 07187396)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 12,500 12,008
Other debtors 391,861 192,872
404,361 204,880

Included in other debtors is an amount of £92,966 (2022: £72,240) owed by A&K Commercial Properties Ltd; a company in which Anthony Collins is also a director.

Included in other debtors is also an amount of £286,024 (2022: £100,750) owed by Securahome Holdings Ltd; a newly acquired company of which Anthony Collins is a director.

Included in other creditors is also an amount of £24,944 (2022: £31,826) owed to Guardian Roofs South West Ltd; another company in which Anthony Collins is also a director.

Included in creditors is an amount of £51,913 (2022: £18,959 debtor) owed to Trade Cost Windows Ltd in 2022; a company of which Anthony Collins is also a director.

Included in other debtors is an amount of £10,216 (2022: £636) which is owed by the director and will be repaid 9 months after the year end.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 25,188 10,000
Hire purchase contracts 23,434 25,348
Trade creditors 73,896 63,499
Tax 32,619 50,341
Social security and other taxes 35,955 26,565
VAT 82,654 93,070
Customer Deposits Held 159,826 177,104
Credit Card 20,006 24,645
Pensions 480 -
Trade Cost Windows Ltd 51,913 -
Guardian Roofs South West Ltd 24,944 31,826
Directors' loan accounts - 636
Accrued expenses 5,913 4,636
536,828 507,670

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 97,503 31,667
Hire purchase contracts 41,354 77,482
138,857 109,149

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 64,788 102,830

Lloyds Bank PLC hold a cross guarantee dated 17th August 2017 between A Rated Home Improvements Limited and A & K Commercial Properties Ltd.

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
A RATED HOME IMPROVEMENTS LIMITED

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of A Rated Home Improvements Limited for the year ended 31 March 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of A Rated Home Improvements Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of A Rated Home Improvements Limited and state those matters that we have agreed to state to the director of A Rated Home Improvements Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than A Rated Home Improvements Limited and its director for our work or for this report.

It is your duty to ensure that A Rated Home Improvements Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of A Rated Home Improvements Limited. You consider that A Rated Home Improvements Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of A Rated Home Improvements Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Bevan Buckland LLP
Ground Floor Cardigan House
Castle Court
Swansea Enterprise Park
Swansea
SA7 9LA


16 November 2023