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REGISTERED NUMBER: 01451336 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

A. C. Belting Limited

A. C. Belting Limited (Registered number: 01451336)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


A. C. Belting Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: J Cooper



REGISTERED OFFICE: 58 Kingsholm Road
Gloucester
Gloucestershire
GL1 3BQ



REGISTERED NUMBER: 01451336 (England and Wales)



ACCOUNTANTS: HATS Gloucester Ltd
48 Hucclecote Road
Gloucester
Gloucestershire
GL3 3RS



BANKERS: Lloyds Bank
19 Eastgate Street
Gloucester
Gloucestershire
GL1 1NU

A. C. Belting Limited (Registered number: 01451336)

Statement of Financial Position
31 December 2023

31/12/23 31/12/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,411 2,007

CURRENT ASSETS
Stocks 22,467 20,326
Debtors 5 12,931 33,070
Cash at bank and in hand 83,745 89,483
119,143 142,879
CREDITORS
Amounts falling due within one year 6 19,239 50,029
NET CURRENT ASSETS 99,904 92,850
TOTAL ASSETS LESS CURRENT
LIABILITIES

101,315

94,857

CAPITAL AND RESERVES
Called up share capital 100 100
Profit and loss account 101,215 94,757
SHAREHOLDERS' FUNDS 101,315 94,857

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.

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 13 March 2024 and were signed by:





J Cooper - Director


A. C. Belting Limited (Registered number: 01451336)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

A. C. Belting Limited 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 10% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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 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 statement of financial position date.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

A. C. Belting Limited (Registered number: 01451336)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
Cost
At 1 January 2023
and 31 December 2023 15,561 15,906 10,503 4,834 46,804
Depreciation
At 1 January 2023 15,561 15,705 9,101 4,430 44,797
Charge for year - 30 350 216 596
At 31 December 2023 15,561 15,735 9,451 4,646 45,393
Net book value
At 31 December 2023 - 171 1,052 188 1,411
At 31 December 2022 - 201 1,402 404 2,007

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Improveme
to
property
£   
Cost
At 1 January 2023
and 31 December 2023 15,561
Depreciation
At 1 January 2023
and 31 December 2023 15,561
Net book value
At 31 December 2023 -
At 31 December 2022 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Trade debtors 10,608 31,270
Other debtors 2,323 1,800
12,931 33,070

A. C. Belting Limited (Registered number: 01451336)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Trade creditors 5,599 11,671
Taxation and social security 11,083 9,698
Other creditors 2,557 28,660
19,239 50,029

7. RELATED PARTY DISCLOSURES

At 31 December 2023, the company owed the director J Cooper £1,094 (2022 - £21,556). The balance owed, included within other creditors, is repayable to the director on demand.

The director's parents, Mr A and Mrs C Cooper, who were shareholders in the company until 6 April 2018, have previously loaned funds to the company. During the year ended 31 December 2023, the remaining loan of £5,757 was repaid in full.