Registered number
12584568
ADH Tiling Limited
Filleted Accounts
31 May 2024
ADH Tiling Limited
Registered number: 12584568
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 26,959 31,886
Current assets
Stocks 1,500 -
Debtors 4 77,745 93,854
Cash at bank and in hand 1,443 272
80,688 94,126
Creditors: amounts falling due within one year 5 (49,246) (60,687)
Net current assets 31,442 33,439
Total assets less current liabilities 58,401 65,325
Creditors: amounts falling due after more than one year 6 (5,902) (8,629)
Provisions for liabilities (5,122) (6,058)
Net assets 47,377 50,638
Capital and reserves
Called up share capital 2 2
Profit and loss account 47,375 50,636
Shareholders' funds 47,377 50,638
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
J Harding
Director
Approved by the board on 8 August 2024
ADH Tiling Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The 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 rendering of services. 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:
Computer equipment over 5 years
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Fixtures and Fittings Plant and machinery etc Computer equipment Total
£ £ £ £
Cost
At 1 June 2023 227 47,171 3,362 50,760
Additions - 5,777 1,129 6,906
Disposals - - (1,259) (1,259)
At 31 May 2024 227 52,948 3,232 56,407
Depreciation
At 1 June 2023 135 17,479 1,260 18,874
Charge for the year 45 10,387 645 11,077
On disposals - - (503) (503)
At 31 May 2024 180 27,866 1,402 29,448
Net book value
At 31 May 2024 47 25,082 1,830 26,959
At 31 May 2023 92 29,692 2,102 31,886
4 Debtors 2024 2023
£ £
Trade debtors 15,912 54,524
Other debtors 61,833 39,330
77,745 93,854
5 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 6,975 2,603
Trade creditors 6,245 34,151
Taxation and social security costs 24,610 12,639
Other creditors 11,416 11,294
49,246 60,687
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 5,902 8,629
8 Related party transactions
Included within other creditors is the amount of £34.65 (2023 - £1,727) owed to the directors. This amount is undated, unsecured, interest free and repayable upon demand.
9 Controlling party
The Directors are the ultimate controlling party of the company.
10 Other information
ADH Tiling Limited is a private company limited by shares and incorporated in England. Its registered office is:
1 The Briars
Waterberry Drive
Waterlooville
Hampshire
PO7 7YH
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