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Company No: 07303104 (England and Wales)

DOUBLE AA LIMITED

Unaudited Financial Statements
For the financial year ended 31 July 2023
Pages for filing with the registrar

DOUBLE AA LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2023

Contents

DOUBLE AA LIMITED

COMPANY INFORMATION

For the financial year ended 31 July 2023
DOUBLE AA LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 July 2023
DIRECTOR Alessandro Tranquillo
REGISTERED OFFICE 8-10 St Andrews Hill
Norwich
NR2 1AD
United Kingdom
COMPANY NUMBER 07303104 (England and Wales)
CHARTERED ACCOUNTANTS Gascoynes
Gascoyne House
Moseleys Farm Business Centre
Fornham All Saints
Bury St Edmunds
Suffolk
IP28 6JY
DOUBLE AA LIMITED

BALANCE SHEET

As at 31 July 2023
DOUBLE AA LIMITED

BALANCE SHEET (continued)

As at 31 July 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 2 2
Tangible assets 4 47,663 53,602
47,665 53,604
Current assets
Stocks 9,300 10,300
Debtors 5 7,353 5,711
Cash at bank and in hand 74,642 124,179
91,295 140,190
Creditors: amounts falling due within one year 6 ( 89,643) ( 99,774)
Net current assets 1,652 40,416
Total assets less current liabilities 49,317 94,020
Creditors: amounts falling due after more than one year 7 ( 43,090) ( 54,450)
Net assets 6,227 39,570
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 6,127 39,470
Total shareholder's funds 6,227 39,570

For the financial year ending 31 July 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Double AA Limited (registered number: 07303104) were approved and authorised for issue by the Director on 11 April 2024. They were signed on its behalf by:

Alessandro Tranquillo
Director
DOUBLE AA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
DOUBLE AA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Double AA Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 8-10 St Andrews Hill, Norwich, NR2 1AD, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill not amortised
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 15 years straight line
Plant and machinery etc. 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 13 12

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 August 2022 2 2
At 31 July 2023 2 2
Accumulated amortisation
At 01 August 2022 0 0
0 0
At 31 July 2023 0 0
Net book value
At 31 July 2023 2 2
At 31 July 2022 2 2

4. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 August 2022 42,829 123,615 166,444
Additions 0 3,536 3,536
Disposals 0 ( 1,658) ( 1,658)
At 31 July 2023 42,829 125,493 168,322
Accumulated depreciation
At 01 August 2022 18,954 93,888 112,842
Charge for the financial year 2,977 6,435 9,412
Disposals 0 ( 1,595) ( 1,595)
At 31 July 2023 21,931 98,728 120,659
Net book value
At 31 July 2023 20,898 26,765 47,663
At 31 July 2022 23,875 29,727 53,602

5. Debtors

2023 2022
£ £
Corporation tax 2,096 0
Other debtors 5,257 5,711
7,353 5,711

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 11,440 18,385
Trade creditors 45,691 37,095
Taxation and social security 13,810 15,200
Other creditors 18,702 29,094
89,643 99,774

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 43,090 54,450

There is a charge held over the companies fixed and floating assets.

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100