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Registration number: 11198479

Active Trade Frames Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 March 2023

 

Active Trade Frames Ltd

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Abridged Profit and Loss Account

4

Statement of Comprehensive Income

5

Abridged Balance Sheet

6 to 7

Statement of Changes in Equity

8

Notes to the Unaudited Abridged Financial Statements

9 to 13

 

Active Trade Frames Ltd

Company Information

Directors

Mr R Martin

Mr J Martin

Registered office

Nortonbury House
37 High Street
Tewkesbury
Gloucestershire
GL20 5BB

Accountants

Holberton and Co Ltd
Nortonbury House
37 High Street
Tewkesbury
Gloucestershire
GL20 5BB

 

Active Trade Frames Ltd

Directors' Report for the Year Ended 31 March 2023

The directors present their report and the abridged financial statements for the year ended 31 March 2023.

Directors of the company

The directors who held office during the year were as follows:

Mr R Martin

Mr J Martin

Principal activity

The principal activity of the company is provision of glazing products

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 16 November 2023 and signed on its behalf by:
 

.........................................
Mr J Martin
Director

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Active Trade Frames Ltd
for the Year Ended 31 March 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Active Trade Frames Ltd for the year ended 31 March 2023 as set out on pages 4 to 13 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 at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Active Trade Frames Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Active Trade Frames Ltd and state those matters that we have agreed to state to the Board of Directors of Active Trade Frames Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Active Trade Frames Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Active Trade Frames Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Active Trade Frames Ltd. You consider that Active Trade Frames Ltd 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 accounts of Active Trade Frames Ltd. 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 accounts.

......................................

Holberton and Co Ltd
Nortonbury House
37 High Street
Tewkesbury
Gloucestershire
GL20 5BB

16 November 2023

 

Active Trade Frames Ltd

Abridged Profit and Loss Account for the Year Ended 31 March 2023

Note

2023
£

2022
£

Gross profit

 

209,947

207,765

Administrative expenses

 

(135,656)

(99,113)

Interest payable and similar expenses

 

(119)

(132)

Profit before tax

4

74,172

108,520

Tax on profit

 

(8,941)

(21,157)

Profit for the financial year

 

65,231

87,363

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Active Trade Frames Ltd

Statement of Comprehensive Income for the Year Ended 31 March 2023

2023
£

2022
£

Profit for the year

65,231

87,363

Total comprehensive income for the year

65,231

87,363

 

Active Trade Frames Ltd

(Registration number: 11198479)
Abridged Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

28,491

9,814

Current assets

 

Debtors

6

62,471

49,677

Cash at bank and in hand

 

114,062

148,706

 

176,533

198,383

Prepayments and accrued income

 

3,288

2,724

Creditors: Amounts falling due within one year

(52,444)

(87,288)

Net current assets

 

127,377

113,819

Total assets less current liabilities

 

155,868

123,633

Accruals and deferred income

 

(1,604)

(1,600)

Net assets

 

154,264

122,033

Capital and reserves

 

Called up share capital

7

20

20

Retained earnings

154,244

122,013

Shareholders' funds

 

154,264

122,033

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 16 November 2023 and signed on its behalf by:
 

 

Active Trade Frames Ltd

(Registration number: 11198479)
Abridged Balance Sheet as at 31 March 2023

.........................................
Mr J Martin
Director

 

Active Trade Frames Ltd

Statement of Changes in Equity for the Year Ended 31 March 2023

Share capital
£

Retained earnings
£

Total
£

At 1 April 2022

20

122,013

122,033

Profit for the year

-

65,231

65,231

Dividends

-

(33,000)

(33,000)

At 31 March 2023

20

154,244

154,264

Share capital
£

Retained earnings
£

Total
£

At 1 April 2021

20

64,250

64,270

Profit for the year

-

87,363

87,363

Dividends

-

(29,600)

(29,600)

At 31 March 2022

20

122,013

122,033

 

Active Trade Frames Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Nortonbury House
37 High Street
Tewkesbury
Gloucestershire
GL20 5BB

These financial statements were authorised for issue by the Board on 16 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Active Trade Frames Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% Reducing balance

Fixtures and fittings

15% Reducing balance

Motor vehicles

25% Reducing balance

Office equipment

25% Reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors 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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Active Trade Frames Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 4).

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

9,437

3,227

 

Active Trade Frames Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2022

1,965

28,051

30,016

Additions

28,114

-

28,114

At 31 March 2023

30,079

28,051

58,130

Depreciation

At 1 April 2022

1,021

19,181

20,202

Charge for the year

7,219

2,218

9,437

At 31 March 2023

8,240

21,399

29,639

Carrying amount

At 31 March 2023

21,839

6,652

28,491

At 31 March 2022

944

8,870

9,814

6

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

20

20

20

20

         

8

Dividends

   

2023

 

2022

   

£

 

£

Interim dividend of £1,650.00 (2022 - £1,480.00) per ordinary share

 

33,000

 

29,600

         

9

Related party transactions

 

Active Trade Frames Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

25,140

24,000

Contributions paid to money purchase schemes

20,754

450

45,894

24,450