Registered number
09315297
Anglo-Spanish Conexions Limited
Filleted Accounts
30 November 2023
Anglo-Spanish Conexions Limited
Registered number: 09315297
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 46,750 51,000
Tangible assets 4 10,823 12,659
57,573 63,659
Current assets
Cash at bank and in hand 90,313 58,419
Creditors: amounts falling due within one year 5 (26,706) (29,967)
Net current assets 63,607 28,452
Total assets less current liabilities 121,180 92,111
Creditors: amounts falling due after more than one year 6 (10,244) (12,147)
Provisions for liabilities (2,706) (2,405)
Net assets 108,230 77,559
Capital and reserves
Called up share capital 1 1
Profit and loss account 108,229 77,558
Shareholder's funds 108,230 77,559
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 her 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.
Mrs M L Gregor
Director
Approved by the board on 31 July 2024
Anglo-Spanish Conexions Limited
Notes to the Accounts
for the year ended 30 November 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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 15% reducing balance
Motor vehicle 25% reducing balance
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 December 2022 85,000
At 30 November 2023 85,000
Amortisation
At 1 December 2022 34,000
Provided during the year 4,250
At 30 November 2023 38,250
Net book value
At 30 November 2023 46,750
At 30 November 2022 51,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 December 2022 7,966 28,631 36,597
Additions 1,116 - 1,116
At 30 November 2023 9,082 28,631 37,713
Depreciation
At 1 December 2022 4,178 19,760 23,938
Charge for the year 735 2,217 2,952
At 30 November 2023 4,913 21,977 26,890
Net book value
At 30 November 2023 4,169 6,654 10,823
At 30 November 2022 3,788 8,871 12,659
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 1,902 1,902
Obligations under finance lease and hire purchase contracts - 3,723
Taxation and social security costs 19,499 17,363
Other creditors 5,305 6,979
26,706 29,967
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 10,244 12,147
7 Related party transactions
As at 30th November 2023 the company owed the director £4,247 (£5,900 at 30th November 2022).
8 Other information
Anglo-Spanish Conexions Limited is a private company limited by shares and incorporated in England. Its registered office is:
Paradise Cottage
Church Lane
Plymouth
Devon
PL8 2HG
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