Registered number
03453957
Applegarth Building Management Ltd
Filleted Accounts
31 October 2023
Lynden Consultancy Limited
Accountants
Lynden
Catton
Thirsk
N Yorkshire
YO7 4SH
Applegarth Building Management Ltd
Registered number: 03453957
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 205,116 227,495
Current assets
Stocks 1,000 1,000
Debtors 4 36,566 37,351
Cash at bank and in hand 58,763 51,090
96,329 89,441
Creditors: amounts falling due within one year 5 (95,601) (71,108)
Net current assets 728 18,333
Total assets less current liabilities 205,844 245,828
Creditors: amounts falling due after more than one year 6 (49,087) (72,379)
Net assets 156,757 173,449
Capital and reserves
Called up share capital 2 2
Profit and loss account 156,755 173,447
Shareholders' funds 156,757 173,449
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 members have 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 I McGowan
Director
Approved by the board on 20 March 2024
Applegarth Building Management Ltd
Notes to the Accounts
for the year ended 31 October 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
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and machinery 25% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stock is valued at the lower of cost and net realisable value.
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
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 Motor vehicles Total
£ £ £ £
Cost
At 1 November 2022 53,808 222,620 121,500 397,928
Additions - 33,792 8,000 41,792
Disposals - (12,000) (7,750) (19,750)
At 31 October 2023 53,808 244,412 121,750 419,970
Depreciation
At 1 November 2022 - 113,211 57,222 170,433
Charge for the year - 33,820 16,616 50,436
On disposals - (4,078) (1,937) (6,015)
At 31 October 2023 - 142,953 71,901 214,854
Net book value
At 31 October 2023 53,808 101,459 49,849 205,116
At 31 October 2022 53,808 109,409 64,278 227,495
4 Debtors 2023 2022
£ £
Trade debtors 36,566 37,351
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 35,352 16,413
Trade creditors 33,360 46,673
Taxation and social security costs 5,508 1,195
Director Loan Account 17,881 3,156
Other creditors 3,500 3,671
95,601 71,108
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 49,087 72,379
7 Other information
Applegarth Building Management Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Newsham Grange
Newsham
Thirsk
N Yorkshire
YO7 4DF
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