Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-28No description of principal activityThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-03-01false33falsetrue 11825188 2022-03-01 2023-02-28 11825188 2021-03-01 2022-02-28 11825188 2023-02-28 11825188 2022-02-28 11825188 c:Director1 2022-03-01 2023-02-28 11825188 c:Director2 2022-03-01 2023-02-28 11825188 d:PlantMachinery 2022-03-01 2023-02-28 11825188 d:PlantMachinery 2023-02-28 11825188 d:PlantMachinery 2022-02-28 11825188 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 11825188 d:MotorVehicles 2022-03-01 2023-02-28 11825188 d:MotorVehicles 2023-02-28 11825188 d:MotorVehicles 2022-02-28 11825188 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 11825188 d:OfficeEquipment 2022-03-01 2023-02-28 11825188 d:OfficeEquipment 2023-02-28 11825188 d:OfficeEquipment 2022-02-28 11825188 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 11825188 d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 11825188 d:CurrentFinancialInstruments 2023-02-28 11825188 d:CurrentFinancialInstruments 2022-02-28 11825188 d:Non-currentFinancialInstruments 2023-02-28 11825188 d:Non-currentFinancialInstruments 2022-02-28 11825188 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 11825188 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 11825188 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 11825188 d:Non-currentFinancialInstruments d:AfterOneYear 2022-02-28 11825188 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-02-28 11825188 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-02-28 11825188 d:ShareCapital 2023-02-28 11825188 d:ShareCapital 2022-02-28 11825188 d:RetainedEarningsAccumulatedLosses 2023-02-28 11825188 d:RetainedEarningsAccumulatedLosses 2022-02-28 11825188 c:FRS102 2022-03-01 2023-02-28 11825188 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 11825188 c:FullAccounts 2022-03-01 2023-02-28 11825188 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 11825188 2 2022-03-01 2023-02-28 iso4217:GBP xbrli:pure

Registered number: 11825188









ALBION STORAGE SOLUTIONS LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 FEBRUARY 2023

 
ALBION STORAGE SOLUTIONS LTD
REGISTERED NUMBER: 11825188

STATEMENT OF FINANCIAL POSITION
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
41,336
34,574

  
41,336
34,574

Current assets
  

Debtors: amounts falling due within one year
 5 
54,938
38,433

Cash at bank and in hand
 6 
31,873
53,012

  
86,811
91,445

Creditors: amounts falling due within one year
 7 
(33,992)
(25,029)

Net current assets
  
 
 
52,819
 
 
66,416

Total assets less current liabilities
  
94,155
100,990

Creditors: amounts falling due after more than one year
 8 
(8,076)
(10,800)

Provisions for liabilities
  

Deferred tax
  
(10,334)
-

  
 
 
(10,334)
 
 
-

Net assets
  
75,745
90,190


Capital and reserves
  

Called up share capital 
  
4
4

Profit and loss account
  
75,741
90,186

  
75,745
90,190


Page 1

 
ALBION STORAGE SOLUTIONS LTD
REGISTERED NUMBER: 11825188
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 28 FEBRUARY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 November 2023.




Stuart Smith
Stuart Noy
Director
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
ALBION STORAGE SOLUTIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

Albion Storage Solutions Limited is a private company limited by shares and incorporated in England and Wales, registration number 11825188. The registered office is Unit 24b, Halesworth Business Centre, Norwich Road, Halesworth, Suffolk IP19 8TS.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
ALBION STORAGE SOLUTIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
ALBION STORAGE SOLUTIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
Motor vehicles
-
25%
Office equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

Page 5

 
ALBION STORAGE SOLUTIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).


4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 March 2022
23,747
11,667
-
35,414


Additions
11,250
12,250
1,707
25,207


Disposals
-
(4,666)
-
(4,666)



At 28 February 2023

34,997
19,251
1,707
55,955



Depreciation


At 1 March 2022
840
-
-
840


Charge for the year on owned assets
8,539
4,813
427
13,779



At 28 February 2023

9,379
4,813
427
14,619



Net book value



At 28 February 2023
25,618
14,438
1,280
41,336



At 28 February 2022
22,907
11,667
-
34,574


5.


Debtors

2023
2022
£
£


Trade debtors
21,611
19,917

Other debtors
33,327
18,516

54,938
38,433


Page 6

 
ALBION STORAGE SOLUTIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
31,873
53,012

31,873
53,012



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
2,700
8,200

Trade creditors
18,588
4,964

Corporation tax
11,204
-

Other taxation and social security
-
11,865

Accruals and deferred income
1,500
-

33,992
25,029



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
8,076
10,800

8,076
10,800


Page 7

 
ALBION STORAGE SOLUTIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
2,700
8,200


2,700
8,200

Amounts falling due 1-2 years

Bank loans
8,076
10,800


8,076
10,800



10,776
19,000


 
Page 8