Registered number
11753879
A&A CONTRACTORS MIDLANDS LTD
Filleted Abridged Accounts
31 December 2023
A&A CONTRACTORS MIDLANDS LTD
Registered number: 11753879
Abridged Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 77,748 94,716
Current assets
Debtors 338,858 95,935
Investments held as current assets 4 400,000 400,000
Cash at bank and in hand 26,500 217,794
765,358 713,729
Creditors: amounts falling due within one year (269,056) (204,157)
Net current assets 496,302 509,572
Total assets less current liabilities 574,050 604,288
Creditors: amounts falling due after more than one year (91,077) (82,585)
Net assets 482,973 521,703
Capital and reserves
Called up share capital 100 100
Profit and loss account 482,873 521,603
Shareholder's funds 482,973 521,703
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 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.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.
Kanwarvir Singh
Director
Approved by the board on 2 August 2024
A&A CONTRACTORS MIDLANDS LTD
Notes to the Abridged Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The abridged 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.
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 25 36
3 Tangible fixed assets
Total
£
Cost
At 1 January 2023 146,366
Additions 14,782
At 31 December 2023 161,148
Depreciation
At 1 January 2023 51,650
Charge for the year 31,750
At 31 December 2023 83,400
Net book value
At 31 December 2023 77,748
At 31 December 2022 94,716
4 Investments held as current assets 2023 2022
£ £
Fair value
Unlisted investments 400,000 400,000
5 Related party transactions
No Related party transactions durin the year.
6 Controlling party
During the year company was controlled by Mr. Kanwarvir Singh.
7 Other information
A&A CONTRACTORS MIDLANDS LTD is a private company limited by shares and incorporated in England. Its registered office is:
Unit-2A
Plymouth House
West Bromwich
B70 9HS
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