Acra Screed Limited 05582982 false 2022-11-01 2023-10-31 2023-10-31 The principal activity of the company is the manufacture of cement. Digita Accounts Production Advanced 6.30.9574.0 true true 05582982 2022-11-01 2023-10-31 05582982 2023-10-31 05582982 bus:OrdinaryShareClass1 2023-10-31 05582982 core:CurrentFinancialInstruments 2023-10-31 05582982 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 05582982 core:Non-currentFinancialInstruments core:AfterOneYear 2023-10-31 05582982 core:PatentsTrademarksLicencesConcessionsSimilar 2023-10-31 05582982 core:FurnitureFittingsToolsEquipment 2023-10-31 05582982 core:LandBuildings 2023-10-31 05582982 core:MotorVehicles 2023-10-31 05582982 bus:SmallEntities 2022-11-01 2023-10-31 05582982 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 05582982 bus:FilletedAccounts 2022-11-01 2023-10-31 05582982 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 05582982 bus:RegisteredOffice 2022-11-01 2023-10-31 05582982 bus:Director1 2022-11-01 2023-10-31 05582982 bus:OrdinaryShareClass1 2022-11-01 2023-10-31 05582982 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 05582982 core:PatentsTrademarksLicencesConcessionsSimilar 2022-11-01 2023-10-31 05582982 core:ComputerEquipment 2022-11-01 2023-10-31 05582982 core:FurnitureFittingsToolsEquipment 2022-11-01 2023-10-31 05582982 core:LandBuildings 2022-11-01 2023-10-31 05582982 core:MotorVehicles 2022-11-01 2023-10-31 05582982 core:PlantMachinery 2022-11-01 2023-10-31 05582982 countries:EnglandWales 2022-11-01 2023-10-31 05582982 2022-10-31 05582982 core:PatentsTrademarksLicencesConcessionsSimilar 2022-10-31 05582982 core:FurnitureFittingsToolsEquipment 2022-10-31 05582982 core:LandBuildings 2022-10-31 05582982 core:MotorVehicles 2022-10-31 05582982 2021-11-01 2022-10-31 05582982 2022-10-31 05582982 bus:OrdinaryShareClass1 2022-10-31 05582982 core:CurrentFinancialInstruments 2022-10-31 05582982 core:CurrentFinancialInstruments core:WithinOneYear 2022-10-31 05582982 core:Non-currentFinancialInstruments core:AfterOneYear 2022-10-31 05582982 core:PatentsTrademarksLicencesConcessionsSimilar 2022-10-31 05582982 core:FurnitureFittingsToolsEquipment 2022-10-31 05582982 core:LandBuildings 2022-10-31 05582982 core:MotorVehicles 2022-10-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05582982

Acra Screed Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2023

 

Acra Screed Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Acra Screed Limited

Company Information

Director

Ms Helen Owen

Registered office

Pendle View Farm
Tosside
Skipton
BD23 4SJ

Accountants

Smith Butler
Accountants and Business Advisers
Sapper Jordan Rossi Park
Otley Road
Baildon
West Yorkshire
BD17 7AX

 

Acra Screed Limited

(Registration number: 05582982)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

472

755

Tangible assets

5

384,077

120,034

 

384,549

120,789

Current assets

 

Stocks

6

7,500

15,000

Debtors

7

19,922

203,022

Cash at bank and in hand

 

42,976

17,722

 

70,398

235,744

Creditors: Amounts falling due within one year

8

(154,100)

(184,293)

Net current (liabilities)/assets

 

(83,702)

51,451

Total assets less current liabilities

 

300,847

172,240

Creditors: Amounts falling due after more than one year

8

(90,967)

(1,623)

Provisions for liabilities

(24,753)

(27,897)

Net assets

 

185,127

142,720

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

185,027

142,620

Shareholders' funds

 

185,127

142,720

For the financial year ending 31 October 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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Acra Screed Limited

(Registration number: 05582982)
Balance Sheet as at 31 October 2023

Approved and authorised by the director on 24 July 2024
 

.........................................
Ms Helen Owen
Director

 

Acra Screed Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Pendle View Farm
Tosside
Skipton
BD23 4SJ

These financial statements were authorised for issue by the director on 24 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Acra Screed Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and Buildngs

4% straight line & 2% straight line

Plant and Machinery

15% reducing balance

Computer Equipment

33% straight line

Motor Vehicles

25% reducing balance

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Patents and Licences

2% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Acra Screed Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Acra Screed Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2022 - 2).

 

Acra Screed Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

4

Intangible assets

Trademarks, patents and licenses
 £

Total
£

Cost or valuation

At 1 November 2022

44,851

44,851

At 31 October 2023

44,851

44,851

Amortisation

At 1 November 2022

44,096

44,096

Amortisation charge

283

283

At 31 October 2023

44,379

44,379

Carrying amount

At 31 October 2023

472

472

At 31 October 2022

755

755

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 November 2022

10,000

212,970

10,799

233,769

Additions

250,000

2,691

34,499

287,190

Disposals

-

-

(10,799)

(10,799)

At 31 October 2023

260,000

215,661

34,499

510,160

Depreciation

At 1 November 2022

800

102,136

10,799

113,735

Charge for the year

5,400

17,028

719

23,147

Eliminated on disposal

-

-

(10,799)

(10,799)

At 31 October 2023

6,200

119,164

719

126,083

Carrying amount

At 31 October 2023

253,800

96,497

33,780

384,077

At 31 October 2022

9,200

110,834

-

120,034

 

Acra Screed Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Included within the net book value of land and buildings above is £245,000 (2022 - £Nil) in respect of freehold land and buildings and £8,800 (2022 - £9,200) in respect of long leasehold land and buildings.
 

6

Stocks

2023
£

2022
£

Other inventories

7,500

15,000

7

Debtors

Current

2023
£

2022
£

Trade debtors

12,259

53,408

Prepayments

781

1,044

Other debtors

6,882

148,570

 

19,922

203,022

 

Acra Screed Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

20,921

3,764

Trade creditors

 

30,003

35,838

Taxation and social security

 

6,461

11,610

Accruals and deferred income

 

970

1,100

Other creditors

 

95,745

131,981

 

154,100

184,293

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

90,967

1,623

9

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100