Registered number
06517699
ALVES LIMITED
Filleted Accounts
29 February 2024
ALVES LIMITED
Registered number: 06517699
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 14,111 17,269
Current assets
Stocks 27,800 26,500
Debtors 4 21,636 28,314
Cash at bank and in hand 27,745 596
77,181 55,410
Creditors: amounts falling due within one year 5 (59,843) (49,027)
Net current assets 17,338 6,383
Total assets less current liabilities 31,449 23,652
Creditors: amounts falling due after more than one year 6 (18,169) (29,432)
Net assets/(liabilities) 13,280 (5,780)
Capital and reserves
Called up share capital 2 2
Profit and loss account 13,278 (5,782)
Shareholder's funds 13,280 (5,780)
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.
Ricardo Lopes Alves
Director
Approved by the board on 17 July 2024
ALVES LIMITED
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
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
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:
Fixed Assets Deprecitation 20%
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 March 2023 12,115 24,887 37,002
Additions 370 - 370
At 29 February 2024 12,485 24,887 37,372
Depreciation
At 1 March 2023 10,777 8,956 19,733
Charge for the year 342 3,186 3,528
At 29 February 2024 11,119 12,142 23,261
Net book value
At 29 February 2024 1,366 12,745 14,111
At 28 February 2023 1,338 15,931 17,269
4 Debtors 2024 2023
£ £
Trade debtors 8,961 15,495
BBL Interest 1,207 1,745
CIS & Other Taxation 5,489 5,489
Other debtors 5,979 5,585
21,636 28,314
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 6,421 7,112
Director's account 25,743 27,312
Accruals 1,700 820
Obligations under finance lease and hire purchase contracts 4,958 4,958
Trade creditors 1,088 -
Corporation Tax 3,896 273
Other taxes and social secruity costs 13,378 6,901
Other creditors 2,659 1,651
59,843 49,027
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 8,251 14,556
Obligations under finance lease and hire purchase contracts 9,918 14,876
18,169 29,432
7 Contingent liabilities
The director has confirmed that there were no contingent liabilities during the year, which should be disclosed at 28 February 2024.
8 Related party transactions & Ultimate Controlling party
The company paid £1050 (2023; £980) to the director for the use of offices. The director owns all the issued share capital and therefore controls the company. Directors current account balance at the year end was £25,742 Cr (2023 £27,312Cr)
9 Going concern
The director has reviewed a period of 12 months from approval of these financial statements and concluded the company is able to meet all its liabilites as they fall due. As a result it is appropriate it is appropriate to prepare the accounts on a going concern basis.
10 Other information
ALVES LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
10 Lower Road
Kenley
CR8 5NB
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