Registered number
04588332
Alan Grice Staircase Company Limited
Report and Accounts
30 April 2024
Alan Grice Staircase Company Limited
Registered number: 04588332
Balance Sheet
as at 30 April 2024
30th April 30th April
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 204,510 221,327
Current assets
Stocks 26,919 31,163
Debtors 4 57,483 37,466
Cash at bank and in hand 2,278 666
86,680 69,295
Creditors: amounts falling due within one year 5 (130,865) (110,438)
Net current liabilities (44,185) (41,143)
Total assets less current liabilities 160,325 180,184
Creditors: amounts falling due after more than one year 6 (32,810) (66,260)
Net assets 127,515 113,924
Capital and reserves
Called up share capital 100 100
Profit and loss account 127,415 113,824
Shareholders' funds 127,515 113,924
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.
Mr SJ Grice
Director
Approved by the board on 20 August 2024
Alan Grice Staircase Company Limited
Notes to the Accounts
for the year ended 30 April 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 the sale of goods and from the rendering of services. Turnover from the sale of goods and services are 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 at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold improvements 2% straight line
Motor vehicles 25% straight line
Plant and machinery 20% reducing balance, 10% and 5% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. 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. 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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
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.
30th April 30th April
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 9 11
3 Tangible fixed assets
Leasehold improvements Plant and machinery Motor vehicles Total
£ £ £ £
Cost
At 1 May 2023 7,479 363,833 33,345 404,657
At 30 April 2024 7,479 363,833 33,345 404,657
Depreciation
At 1 May 2023 3,029 151,933 28,368 183,330
Charge for the year 150 13,058 3,609 16,817
At 30 April 2024 3,179 164,991 31,977 200,147
Net book value
At 30 April 2024 4,300 198,842 1,368 204,510
At 30 April 2023 4,450 211,900 4,977 221,327
30th April 30th April
4 Debtors 2024 2023
£ £
Trade debtors 55,255 33,326
Other debtors 2,228 4,140
57,483 37,466
30th April 30th April
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loan and overdraft 8,760 16,743
Obligations under finance lease and hire purchase contracts 24,600 24,600
Trade creditors 40,157 27,815
Director's loan account 14,685 14,721
Other taxation and social security costs 35,975 21,152
Other creditors 6,688 5,407
130,865 110,438
6 Creditors: amounts falling due after one year
Bank loan 16,392 25,242
Obligations under finance lease and hire purchase contracts 16,418 41,018
32,810 66,260
7 Other financial commitments
Total future minimum payments under non-cancellable operating leases 9,092 1,091
8 Related party transactions
Mr A Grice
Director
Monies loaned to the company at year end 14,685 14,721
9 Other information
Alan Grice Staircase Company Limited is a private company limited by shares and incorporated in England. The registered office is:
Unit 1 Langley Road
Burscough Industrial Estate
Burscough
Lancashire
L40 8JY
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