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AIR COMPRESSOR MAINTENANCE LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






AIR COMPRESSOR MAINTENANCE LTD (REGISTERED NUMBER: 13794977)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AIR COMPRESSOR MAINTENANCE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: D Watson
S W Barber





REGISTERED OFFICE: 92 Staffa Drive
Tibshelf
Alfreton
DE55 5PJ





REGISTERED NUMBER: 13794977 (England and Wales)





ACCOUNTANTS: Sibbalds Limited
Chartered Accountants and Business Advisers
Oakhurst House
57 Ashbourne Road
Derby
Derbyshire
DE22 3FS

AIR COMPRESSOR MAINTENANCE LTD (REGISTERED NUMBER: 13794977)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 20,749 18,463

CURRENT ASSETS
Stocks 10,000 10,000
Debtors 5 36,741 42,499
Cash at bank 80,303 37,218
127,044 89,717
CREDITORS
Amounts falling due within one year 6 83,657 63,084
NET CURRENT ASSETS 43,387 26,633
TOTAL ASSETS LESS CURRENT LIABILITIES 64,136 45,096

PROVISIONS FOR LIABILITIES 8 5,200 3,500
NET ASSETS 58,936 41,596

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings 58,935 41,595
SHAREHOLDERS' FUNDS 58,936 41,596

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

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.

AIR COMPRESSOR MAINTENANCE LTD (REGISTERED NUMBER: 13794977)

BALANCE SHEET - continued
31 DECEMBER 2023


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 April 2024 and were signed on its behalf by:




S W Barber - Director



D Watson - Director


AIR COMPRESSOR MAINTENANCE LTD (REGISTERED NUMBER: 13794977)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Air Compressor Maintenance Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

AIR COMPRESSOR MAINTENANCE LTD (REGISTERED NUMBER: 13794977)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 7,079 14,462 - 21,541
Additions 7,363 - 403 7,766
At 31 December 2023 14,442 14,462 403 29,307
DEPRECIATION
At 1 January 2023 917 2,161 - 3,078
Charge for year 2,397 3,075 8 5,480
At 31 December 2023 3,314 5,236 8 8,558
NET BOOK VALUE
At 31 December 2023 11,128 9,226 395 20,749
At 31 December 2022 6,162 12,301 - 18,463

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 33,740 41,549
Other debtors 3,001 950
36,741 42,499

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 8,010 21,031
Taxation and social security 30,788 11,301
Other creditors 44,859 30,752
83,657 63,084

AIR COMPRESSOR MAINTENANCE LTD (REGISTERED NUMBER: 13794977)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 7,800 -
Between one and five years 29,900 -
37,700 -

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 5,200 3,500

Deferred
tax
£   
Balance at 1 January 2023 3,500
Provided during year 1,700
Balance at 31 December 2023 5,200

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £0.01 1 1