Registered number
01291149
ABC (Enamelling & Fabrications) Ltd
Filleted Accounts
30 April 2023
ABC (Enamelling & Fabrications) Ltd
Registered number: 01291149
Balance Sheet
as at 30 April 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 210,553 224,303
Current assets
Stocks 29,395 27,925
Debtors 4 70,560 62,368
Cash at bank and in hand 52,245 21,087
152,200 111,380
Creditors: amounts falling due within one year 5 (97,750) (65,517)
Net current assets 54,450 45,863
Total assets less current liabilities 265,003 270,166
Creditors: amounts falling due after more than one year 6 (163,789) (148,700)
Net assets 101,214 121,466
Capital and reserves
Called up share capital 76 76
Profit and loss account 101,138 121,390
Shareholders' funds 101,214 121,466
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P.N. Skelly
Director
Approved by the board on 1 February 2024
ABC (Enamelling & Fabrications) Ltd
Notes to the Accounts
for the period from 1 October 2022 to 30 April 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor Vehicles 25% reducing balance method
Plant and machinery 10% reducing balance method
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 October 2022 150,000 287,129 437,129
Additions - 2,311 2,311
Disposals - (19,552) (19,552)
At 30 April 2023 150,000 269,888 419,888
Depreciation
At 1 October 2022 - 212,826 212,826
Charge for the period - 9,005 9,005
On disposals - (12,496) (12,496)
At 30 April 2023 - 209,335 209,335
Net book value
At 30 April 2023 150,000 60,553 210,553
At 30 September 2022 150,000 74,303 224,303
4 Debtors 2023 2022
£ £
Trade debtors 54,676 54,556
Other debtors 15,884 7,812
70,560 62,368
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 5,182 5,182
Trade creditors 16,879 13,893
Taxation and social security costs 70,779 38,870
Other creditors 4,910 7,572
97,750 65,517
6 Creditors: amounts falling due after one year 2023 2022
£ £
Directors Current Account 65,504 58,773
Bank loans 34,964 38,110
Shareholder Loan Account 63,321 51,817
163,789 148,700
7 Other information
ABC (Enamelling & Fabrications) Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 4, The Vines Industrial Estate
High Street
Nailsea
North Somerset
BS48 1BG
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