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Company Registration No. 04562700 (England and Wales)
A&K Wilson Picture Framers Ltd Unaudited accounts for the year ended 31 March 2024
A&K Wilson Picture Framers Ltd Unaudited accounts Contents
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A&K Wilson Picture Framers Ltd Company Information for the year ended 31 March 2024
Directors
N D Sharp S L Sharp
Company Number
04562700 (England and Wales)
Registered Office
11 Station Approach Harpenden Hertfordshire AL5 4SP
Accountants
Chris Burgess Accountancy Ltd The Old Surgery 48 High Street Chalgrove Oxfordshire OX44 7SS
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A&K Wilson Picture Framers Ltd Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
241 
275 
Current assets
Inventories
2,900 
2,800 
Debtors
4,147 
5,579 
Cash at bank and in hand
6,241 
9,221 
13,288 
17,600 
Creditors: amounts falling due within one year
(6,572)
(6,813)
Net current assets
6,716 
10,787 
Net assets
6,957 
11,062 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
6,857 
10,962 
Shareholders' funds
6,957 
11,062 
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 13 August 2024 and were signed on its behalf by
S L Sharp Director Company Registration No. 04562700
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A&K Wilson Picture Framers Ltd Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
A&K Wilson Picture Framers Ltd is a private company, limited by shares, registered in England and Wales, registration number 04562700. The registered office is 11 Station Approach, Harpenden, Hertfordshire, AL5 4SP.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Straight Line
Fixtures & fittings
10% Straight Line
Computer equipment
25% Straight Line
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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A&K Wilson Picture Framers Ltd Notes to the Accounts for the year ended 31 March 2024
4
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 April 2023
1,838 
490 
2,789 
5,117 
Additions
130 
- 
- 
130 
At 31 March 2024
1,968 
490 
2,789 
5,247 
Depreciation
At 1 April 2023
1,838 
490 
2,514 
4,842 
Charge for the year
26 
- 
138 
164 
At 31 March 2024
1,864 
490 
2,652 
5,006 
Net book value
At 31 March 2024
104 
- 
137 
241 
At 31 March 2023
- 
- 
275 
275 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
1,447 
2,879 
Other debtors
2,700 
2,700 
4,147 
5,579 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Taxes and social security
4,125 
4,241 
Other creditors
36 
- 
Loans from directors
352 
312 
Accruals
2,059 
2,260 
6,572 
6,813 
7
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
8
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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