Registered number
05054155
A1 Building (Specialist Services) Limited
Filleted Accounts
28 February 2023
A1 Building (Specialist Services) Limited
Registered number: 05054155
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 4,867 5,112
Current assets
Stocks 2,615 2,615
Debtors 4 6,474 4,355
Cash at bank and in hand 32,903 43,495
41,992 50,465
Creditors: amounts falling due within one year 5 (11,080) (11,114)
Net current assets 30,912 39,351
Total assets less current liabilities 35,779 44,463
Creditors: amounts falling due after more than one year 6 (92,573) (97,473)
Provisions for liabilities (925) (971)
Net liabilities (57,719) (53,981)
Capital and reserves
Called up share capital 100 100
Profit and loss account (57,819) (54,081)
Shareholder's funds (57,719) (53,981)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Mr William Nicholson
Director
Approved by the board on 4 March 2024
A1 Building (Specialist Services) Limited
Notes to the Accounts
for the year ended 28 February 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:
Plant and machinery 20% straight line
Fixtures, fittings, tools and equipment 20% straight line
Motor Vehicles 20% straight line
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 - 2
3 Tangible fixed assets
Fixtures and Fittings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 March 2022 11,423 85,601 44,735 141,759
Additions - - 1,500 1,500
Disposals - (24,000) - (24,000)
At 28 February 2023 11,423 61,601 46,235 119,259
Depreciation
At 1 March 2022 7,434 84,478 44,735 136,647
Charge for the year 1,329 41 375 1,745
On disposals - (24,000) - (24,000)
At 28 February 2023 8,763 60,519 45,110 114,392
Net book value
At 28 February 2023 2,660 1,082 1,125 4,867
At 28 February 2022 3,989 1,123 - 5,112
4 Debtors 2023 2022
£ £
Other debtors 6,474 4,355
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 480 514
Other creditors 600 600
11,080 11,114
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 25,000 35,000
Other creditors (£54514 Directors Loan included) 67,573 62,473
92,573 97,473
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr William Nicholson
Directors Loan (54,514) (3,196) - (57,710)
Mr Geoffrey Clark
Directors Loan - (4,763) - (4,763)
(54,514) (7,959) - (62,473)
8 Controlling party
The company was under the control of the director throughout the year
9 Other information
A1 Building (Specialist Services) Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Empire Social Club
Hope Street
Billingham
Tees Valley
TS23 4HE
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