REGISTERED NUMBER: |
Excell Trade Frames Limited |
Unaudited Financial Statements for the Year Ended 31 July 2023 |
REGISTERED NUMBER: |
Excell Trade Frames Limited |
Unaudited Financial Statements for the Year Ended 31 July 2023 |
Excell Trade Frames Limited (Registered number: 04222150) |
Contents of the Financial Statements |
for the Year Ended 31 July 2023 |
Page |
Company Information | 1 |
Accountants' Report | 2 |
Statement of Financial Position | 3 |
Notes to the Financial Statements | 6 |
Excell Trade Frames Limited |
Company Information |
for the Year Ended 31 July 2023 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
Accountants: |
Craven House |
32 Lee Lane |
Horwich |
Bolton |
BL6 7BY |
Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Excell Trade Frames Limited |
The following reproduces the text of the report prepared for the directors 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 Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Directors' Report 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 Excell Trade Frames Limited for the year ended 31 July 2023 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook. |
This report is made solely to the Board of Directors of Excell Trade Frames Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Excell Trade Frames Limited and state those matters that we have agreed to state to the Board of Directors of Excell Trade Frames Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Excell Trade Frames 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 Excell Trade Frames Limited. You consider that Excell Trade Frames 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 Excell Trade Frames 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. |
Craven House |
32 Lee Lane |
Horwich |
Bolton |
BL6 7BY |
Date: ............................................. |
Excell Trade Frames Limited (Registered number: 04222150) |
Statement of Financial Position |
31 July 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
Fixed assets |
Intangible assets | 4 |
Tangible assets | 5 |
Current assets |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
Creditors |
Amounts falling due within one year | 7 |
Net current assets |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
Provisions for liabilities | 10 | ( |
) | ( |
) |
Net assets |
Excell Trade Frames Limited (Registered number: 04222150) |
Statement of Financial Position - continued |
31 July 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
Capital and reserves |
Called up share capital | 11 |
Retained earnings |
Shareholders' funds |
The directors acknowledge their 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. |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
Excell Trade Frames Limited (Registered number: 04222150) |
Statement of Financial Position - continued |
31 July 2023 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Excell Trade Frames Limited (Registered number: 04222150) |
Notes to the Financial Statements |
for the Year Ended 31 July 2023 |
1. | Statutory information |
Excell Trade Frames Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received and receivable for the supply and fitting of double glazed windows and doors, net of value added tax. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Tangible assets are initially recorded at cost and are subsequently stated at cost less any accumulated depreciation and impairment losses. |
Government grants |
Government grants are recognised using the accrual model. Under the accrual model, grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Financial instruments |
The company only enters into basic financial instruments that result in the recognition of the financial assets and liabilities such as trade and other debtors and creditors. These are measured at amortised cost and assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings. |
Excell Trade Frames Limited (Registered number: 04222150) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
2. | Accounting policies - continued |
Taxation |
The taxation expense represents the aggregate amount of current tax recognised in the reporting year. Tax is recognised in the statement of income and retained earnings. Current tax is recognised on taxable profit for the current year. |
Current tax is measured at the amounts of tax expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the reporting date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
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. |
3. | Employees and directors |
The average number of employees during the year was |
Excell Trade Frames Limited (Registered number: 04222150) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
4. | Intangible fixed assets |
Goodwill |
£ |
Cost |
At 1 August 2022 |
and 31 July 2023 |
Amortisation |
At 1 August 2022 |
and 31 July 2023 |
Net book value |
At 31 July 2023 |
At 31 July 2022 |
5. | Tangible fixed assets |
Fixtures |
Plant and | and | Motor |
machinery | fittings | vehicles | Totals |
£ | £ | £ | £ |
Cost |
At 1 August 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 July 2023 |
Depreciation |
At 1 August 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 July 2023 |
Net book value |
At 31 July 2023 |
At 31 July 2022 |
Excell Trade Frames Limited (Registered number: 04222150) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
5. | Tangible fixed assets - continued |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and | Motor |
machinery | vehicles | Totals |
£ | £ | £ |
Cost |
At 1 August 2022 |
Transfer to ownership | - | (13,500 | ) | (13,500 | ) |
At 31 July 2023 |
Depreciation |
At 1 August 2022 |
Charge for year |
Transfer to ownership | - | (8,279 | ) | (8,279 | ) |
At 31 July 2023 |
Net book value |
At 31 July 2023 |
At 31 July 2022 |
6. | Debtors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
7. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Bank loan |
Hire purchase contracts (see note 9) |
Trade creditors |
Taxation and social security |
Other creditors |
Excell Trade Frames Limited (Registered number: 04222150) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
8. | Creditors: amounts falling due after more than one year |
2023 | 2022 |
£ | £ |
Bank loans |
Hire purchase contracts (see note 9) |
9. | Leasing agreements |
Minimum lease payments fall due as follows: |
Hire purchase contracts |
2023 | 2022 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
Non-cancellable | operating leases |
2023 | 2022 |
£ | £ |
Within one year |
Between one and five years |
10. | Provisions for liabilities |
2023 | 2022 |
£ | £ |
Deferred tax | 26,465 | 26,742 |
Deferred |
tax |
£ |
Balance at 1 August 2022 |
Provided during year | ( |
) |
Balance at 31 July 2023 |
Excell Trade Frames Limited (Registered number: 04222150) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
11. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | 1 | 100 | 100 |
12. | Directors' advances, credits and guarantees |
Other debtors consists of £45,760 (2022: £165,235) in respect of net advances made to the directors by the company during the year. The advances are interest free with no specific terms of repayment. |