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REGISTERED NUMBER: 11192506 (England and Wales)














Unaudited Financial Statements for the Year Ended 28 February 2023

for

Ambient Insulation Specialists Limited

Ambient Insulation Specialists Limited (Registered number: 11192506)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


Ambient Insulation Specialists Limited

Company Information
for the Year Ended 28 February 2023







DIRECTOR: J P McKee





REGISTERED OFFICE: Unit 3 Redwood Point
Woodward Road
Knowsley Industrial Park
Liverpool
Merseyside
L33 7UZ





REGISTERED NUMBER: 11192506 (England and Wales)





ACCOUNTANTS: Douglas Fairless Partnership
Seymour Chambers
92 London Road
Liverpool
Merseyside
L3 5NW

Ambient Insulation Specialists Limited (Registered number: 11192506)

Abridged Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 23,709 14,092

CURRENT ASSETS
Debtors 336,091 184,047
Cash at bank 66,844 1,641
402,935 185,688
CREDITORS
Amounts falling due within one year 268,154 149,482
NET CURRENT ASSETS 134,781 36,206
TOTAL ASSETS LESS CURRENT
LIABILITIES

158,490

50,298

CREDITORS
Amounts falling due after more than one
year

(27,116

)

(38,314

)

PROVISIONS FOR LIABILITIES (3,647 ) (1,172 )
NET ASSETS 127,727 10,812

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 127,726 10,811
SHAREHOLDERS' FUNDS 127,727 10,812

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 28 February 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 22 November 2023 and were signed by:




J P McKee - Director


Ambient Insulation Specialists Limited (Registered number: 11192506)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Ambient Insulation Specialists 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.
Improvements to property - 2% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 5 ) .

Ambient Insulation Specialists Limited (Registered number: 11192506)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2022 20,138
Additions 13,802
At 28 February 2023 33,940
DEPRECIATION
At 1 March 2022 6,046
Charge for year 4,185
At 28 February 2023 10,231
NET BOOK VALUE
At 28 February 2023 23,709
At 28 February 2022 14,092

5. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2023 and 28 February 2022:

28.2.23 28.2.22
£    £   
J P McKee
Balance outstanding at start of year 101,124 22,500
Amounts advanced 234,747 166,084
Amounts repaid (161,281 ) (87,460 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 174,590 101,124

The loans were unsecured, repayable on demand and 2.5% interest was charged on the average balance of the loan.