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REGISTERED NUMBER: 03656126 (England and Wales)















ACTION WALL TIES LTD.

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






ACTION WALL TIES LTD. (REGISTERED NUMBER: 03656126)






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


ACTION WALL TIES LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: C J Nichols





REGISTERED OFFICE: 424 Margate Road
Westwood
Ramsgate
Kent
CT12 6SJ





REGISTERED NUMBER: 03656126 (England and Wales)





ACCOUNTANTS: Spurling Cannon
Chartered Certified Accountants
424 Margate Road
Westwood
Ramsgate
Kent
CT12 6SJ

ACTION WALL TIES LTD. (REGISTERED NUMBER: 03656126)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 57,758 73,294

CURRENT ASSETS
Stocks 107,767 100,345
Debtors 5 4,714 11,988
Cash at bank 74 8,810
112,555 121,143
CREDITORS
Amounts falling due within one year 6 (120,435 ) (93,250 )
NET CURRENT (LIABILITIES)/ASSETS (7,880 ) 27,893
TOTAL ASSETS LESS CURRENT
LIABILITIES

49,878

101,187

CREDITORS
Amounts falling due after more than one
year

7

(47,074

)

(78,740

)
NET ASSETS 2,804 22,447

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 1,804 21,447
2,804 22,447

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 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.

ACTION WALL TIES LTD. (REGISTERED NUMBER: 03656126)

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 April 2024 and were signed by:





C J Nichols - Director


ACTION WALL TIES LTD. (REGISTERED NUMBER: 03656126)

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

1. STATUTORY INFORMATION

Action Wall Ties 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.

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
Fixture & Fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

ACTION WALL TIES LTD. (REGISTERED NUMBER: 03656126)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 10 ) .

4. TANGIBLE FIXED ASSETS
Plant and Fixture & Motor
machinery Fittings vehicles Totals
£    £    £    £   
COST
At 1 January 2023
and 31 December 2023 140,519 43,463 108,119 292,101
DEPRECIATION
At 1 January 2023 94,424 40,768 83,615 218,807
Charge for year 8,737 673 6,126 15,536
At 31 December 2023 103,161 41,441 89,741 234,343
NET BOOK VALUE
At 31 December 2023 37,358 2,022 18,378 57,758
At 31 December 2022 46,095 2,695 24,504 73,294

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Sundry debtors 4,461 3,756
Accrued income - 8,000
Prepayments 253 232
4,714 11,988

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 50,921 20,000
Hire purchase contracts 11,666 12,553
Trade creditors 14,715 16,425
Social security and other taxes 3,813 6,328
VAT 24,728 8,449
Sundry creditors 7,393 6,903
Payments in advance 5,127 19,624
Directors' current accounts 62 873
Accrued expenses 2,010 2,095
120,435 93,250

ACTION WALL TIES LTD. (REGISTERED NUMBER: 03656126)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 20,000 20,000
Bank loans - 2-5 years 8,333 28,333
Hire purchase contracts 18,741 30,407
47,074 78,740