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REGISTERED NUMBER: 11995899 (England and Wales)















Associated Garage Doors Limited

Unaudited Financial Statements for the Year Ended 31 March 2024






Associated Garage Doors Limited (Registered number: 11995899)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Associated Garage Doors Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: R J Scott
G H Scott





REGISTERED OFFICE: 5 London Road
Rainham
Gillingham
Kent
ME8 7RG





BUSINESS ADDRESS: 57 High Brooms Road
Tunbridge Wells
Kent
TN4 9BW





REGISTERED NUMBER: 11995899 (England and Wales)





ACCOUNTANTS: Aggarwal & Co Limited
Chartered Accountants
5 London Road
Rainham
Gillingham
Kent
ME8 7RG

Associated Garage Doors Limited (Registered number: 11995899)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 16,990
Tangible assets 5 103,032 140,601
103,032 157,591

CURRENT ASSETS
Inventories 16,000 26,000
Debtors 6 85,373 104,515
Cash at bank 180,601 297,121
281,974 427,636
CREDITORS
Amounts falling due within one year 7 112,074 252,783
NET CURRENT ASSETS 169,900 174,853
TOTAL ASSETS LESS CURRENT LIABILITIES 272,932 332,444

CREDITORS
Amounts falling due after more than one
year

8

(37,640

)

(32,704

)

PROVISIONS FOR LIABILITIES (16,143 ) (20,949 )
NET ASSETS 219,149 278,791

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 219,139 278,781
SHAREHOLDERS' FUNDS 219,149 278,791

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Associated Garage Doors Limited (Registered number: 11995899)

Statement of Financial Position - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 June 2024 and were signed on its behalf by:





R J Scott - Director


Associated Garage Doors Limited (Registered number: 11995899)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Associated Garage Doors Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income recognition
Income represents the fair value of consideration received or receivable derived from the provision of goods and services to customers during the year (excluding value added tax) and is recognised when the company becomes entitled to it, usually on the rendering of an invoice.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Inventories
Inventories are measured 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 an appropriate proportion of attributable overheads according to the stage of manufacture/completion.

Financial instruments
The Company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties. Basic financial instruments are recognised at amortised cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


Associated Garage Doors Limited (Registered number: 11995899)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 84,951
AMORTISATION
At 1 April 2023 67,961
Charge for year 16,990
At 31 March 2024 84,951
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 16,990

Associated Garage Doors Limited (Registered number: 11995899)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 249,093
Additions 31,010
Disposals (94,009 )
At 31 March 2024 186,094
DEPRECIATION
At 1 April 2023 108,492
Charge for year 24,131
Eliminated on disposal (49,561 )
At 31 March 2024 83,062
NET BOOK VALUE
At 31 March 2024 103,032
At 31 March 2023 140,601

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 76,801 101,563
Other debtors 8,572 2,952
85,373 104,515

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 4,577 9,569
Trade creditors 70,424 46,579
Taxation and social security 15,236 27,794
Other creditors 11,837 158,841
112,074 252,783

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 11,667 21,667
Hire purchase contracts 25,973 11,037
37,640 32,704