Registered number
06517699
ALVES LIMITED
Filleted Accounts
28 February 2023
ALVES LIMITED
Registered number: 06517699
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 17,269 21,587
Current assets
Stocks 26,500 -
Debtors 4 28,314 62,217
Cash at bank and in hand 596 528
55,410 62,745
Creditors: amounts falling due within one year 5 (49,027) (43,506)
Net current assets 6,383 19,239
Total assets less current liabilities 23,652 40,826
Creditors: amounts falling due after more than one year 6 (29,432) (37,444)
Net (liabilities)/assets (5,780) 3,382
Capital and reserves
Called up share capital 2 2
Profit and loss account (5,782) 3,380
Shareholder's funds (5,780) 3,382
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Ricardo Lopes Alves
Director
Approved by the board on 10 November 2023
ALVES LIMITED
Notes to the Accounts
for the year ended 28 February 2023
1 Accounting policies
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.
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:
Fixed Assets Deprecitation 20%
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 March 2022 12,115 24,887 37,002
At 28 February 2023 12,115 24,887 37,002
Depreciation
At 1 March 2022 10,442 4,973 15,415
Charge for the year 335 3,983 4,318
At 28 February 2023 10,777 8,956 19,733
Net book value
At 28 February 2023 1,338 15,931 17,269
At 28 February 2022 1,673 19,914 21,587
4 Debtors 2023 2022
£ £
Trade debtors 15,495 46,066
BBL Interest 1,745 2,284
CIS & Other Taxation 5,489 5,489
Other debtors 5,585 8,378
28,314 62,217
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 7,112 13,628
Director's account 27,312 14,781
Accruals 820 800
Obligations under finance lease and hire purchase contracts 4,958 4,958
Trade creditors - 3,379
Corporation Tax 273 3,394
Other taxes and social secruity costs 6,901 2,567
Other creditors 1,651 (1)
49,027 43,506
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 14,556 17,610
Obligations under finance lease and hire purchase contracts 14,876 19,834
29,432 37,444
7 Contingent liabilities
The director has confirmed that there were no contingent liabilities during the year, which should be disclosed at 28 February 2023.
8 Related party transactions & Ultimate Controlling party
The company paid £980 (2022; £806) to the director for the use of offices. The director owns all the issued share capital and therefore controls the company. Directors current account balance at the year end was £27,312 Cr (2022 £14,780Cr)
9 Going concern
The director has reviewed a period of 12 months from approval of these financial statements and concluded the company is able to meet all its liabilites as they fall due. As a result it is appropriate it is appropriate to prepare the accounts on a going concern basis.
10 Other information
ALVES LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
10 Lower Road
Kenley
CR8 5NB
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