12 false false false false false false false false false false true false false false false false false No description of principal activity 2023-07-01 Sage Accounts Production Advanced 2023 - FRS102_2023 22,602 22,602 xbrli:pure xbrli:shares iso4217:GBP 4168993 2023-07-01 2024-06-30 4168993 2024-06-30 4168993 2023-06-30 4168993 2022-07-01 2023-06-30 4168993 2023-06-30 4168993 2022-06-30 4168993 core:PatentsTrademarksLicencesConcessionsSimilar 2023-07-01 2024-06-30 4168993 core:MotorVehicles 2023-07-01 2024-06-30 4168993 bus:Director4 2023-07-01 2024-06-30 4168993 core:PatentsTrademarksLicencesConcessionsSimilar 2024-06-30 4168993 core:LandBuildings core:OwnedOrFreeholdAssets 2023-06-30 4168993 core:MotorVehicles 2023-06-30 4168993 core:LandBuildings core:OwnedOrFreeholdAssets 2024-06-30 4168993 core:MotorVehicles 2024-06-30 4168993 core:WithinOneYear 2024-06-30 4168993 core:WithinOneYear 2023-06-30 4168993 core:AfterOneYear 2024-06-30 4168993 core:ShareCapital 2024-06-30 4168993 core:ShareCapital 2023-06-30 4168993 core:RevaluationReserve 2024-06-30 4168993 core:RevaluationReserve 2023-06-30 4168993 core:CapitalRedemptionReserve 2024-06-30 4168993 core:RetainedEarningsAccumulatedLosses 2024-06-30 4168993 core:RetainedEarningsAccumulatedLosses 2023-06-30 4168993 core:LandBuildings core:OwnedOrFreeholdAssets 2023-06-30 4168993 core:MotorVehicles 2023-06-30 4168993 bus:SmallEntities 2023-07-01 2024-06-30 4168993 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 4168993 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 4168993 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 4168993 bus:FullAccounts 2023-07-01 2024-06-30 4168993 core:PlantMachinery 2023-07-01 2024-06-30 4168993 core:PlantMachinery 2023-06-30 4168993 core:PlantMachinery 2024-06-30
COMPANY REGISTRATION NUMBER: 4168993
AFT Trenchers Limited
Filleted Unaudited Financial Statements
For the Year Ended
30 June 2024
AFT Trenchers Limited
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
£
Fixed Assets
Tangible assets
6
1,558,340
1,546,565
Current Assets
Stocks at Cost
1,132,324
1,204,694
Debtors
7
78,533
142,327
Cash at bank and in hand
224,180
1,563,952
------------
------------
1,435,037
2,910,973
Creditors: amounts falling due within one year
8
247,401
65,295
------------
------------
Net Current Assets
1,187,636
2,845,678
------------
------------
Total Assets Less Current Liabilities
2,745,976
4,392,243
Creditors: amounts falling due after more than one year
9
1,210,432
Provisions
Taxation including deferred tax
143,042
108,712
------------
------------
Net Assets
1,392,502
4,283,531
------------
------------
Capital and Reserves
Called up share capital
2,300
10,000
Revaluation reserve
641,215
641,215
Capital redemption reserve
7,700
Profit and loss account
741,287
3,632,316
------------
------------
Shareholders Funds
1,392,502
4,283,531
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 30th June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
AFT Trenchers Limited
Statement of Financial Position (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 16 August 2024 , and are signed on behalf of the board by:
Mr U R Krishnan
Director
Company registration number: 4168993
AFT Trenchers Limited
Notes to the Financial Statements
Year Ended 30th June 2024
1. General Information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is AFT House, Addison Road, Chilton Industrial Estate, Sudbury, CO10 2YW, Suffolk.
2. Statement of Compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue Recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income Tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Intangible Assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Patent
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible Assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles
-
25% straight line
Plant & equipment
-
20% straight line
Impairment of Fixed Assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial Instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined Contribution Plans
The pension costs charged against profits represent the amount of the contributions payable to the scheme in respect of the accounting period.
4. Employee Numbers
The average number of persons employed by the company during the year amounted to 12 (2023: 12 ).
5. Intangible Assets
Patents, trademarks and licences
£
Cost
At 1st July 2023 and 30th June 2024
22,602
--------
Amortisation
At 1st July 2023 and 30th June 2024
22,602
--------
Carrying amount
At 30th June 2024
--------
At 30th June 2023
--------
6. Tangible Assets
Freehold property
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1st July 2023
1,535,000
32,975
168,525
1,736,500
Additions
25,500
25,500
Disposals
( 32,975)
( 21,275)
( 54,250)
------------
--------
---------
------------
At 30th June 2024
1,535,000
25,500
147,250
1,707,750
------------
--------
---------
------------
Depreciation
At 1st July 2023
30,695
159,240
189,935
Charge for the year
6,375
5,070
11,445
Disposals
( 30,695)
( 21,275)
( 51,970)
------------
--------
---------
------------
At 30th June 2024
6,375
143,035
149,410
------------
--------
---------
------------
Carrying amount
At 30th June 2024
1,535,000
19,125
4,215
1,558,340
------------
--------
---------
------------
At 30th June 2023
1,535,000
2,280
9,285
1,546,565
------------
--------
---------
------------
7. Debtors
2024
2023
£
£
Trade debtors
68,749
111,335
Other debtors
9,784
30,992
--------
---------
78,533
142,327
--------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
96,870
Trade creditors
10,512
18,049
Corporation tax
39,671
32,933
Social security and other taxes
22,150
3,949
Other creditors
78,198
10,364
---------
--------
247,401
65,295
---------
--------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,210,432
------------
----
Within the bank loans figure is a Barclays Loan of £1,098,564 and a Personal Loan from Mr H Jurgens (Former Director & shareholder) of £208,738. Interest is paid on both loans at 2.5% above the Bank of England base rate.