REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
ABC INDUSTRIAL DOORS LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
ABC INDUSTRIAL DOORS LIMITED |
ABC INDUSTRIAL DOORS LIMITED (REGISTERED NUMBER: 04122111) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
ABC INDUSTRIAL DOORS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
Statutory Auditor |
2 Jordan Street |
Knott Mill |
Manchester |
M15 4PY |
ABC INDUSTRIAL DOORS LIMITED (REGISTERED NUMBER: 04122111) |
BALANCE SHEET |
31 DECEMBER 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
ABC INDUSTRIAL DOORS LIMITED (REGISTERED NUMBER: 04122111) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
ABC Industrial Doors Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 04122111 and its registered office is at Unit 6, Irlam Wharf Road, Irlam, Manchester, M44 5PN. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 is recognised when the company considers that it has fulfilled its obligations to the customer which, in respect of services delivered, is deemed to be when that service is complete. |
Tangible fixed assets |
Land and buildings | - |
Plant and machinery etc | - |
Tangible fixed assets, with the exception of land and buildings as stated below, are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure directly attributable to bringing the asset to the location and condition necessary for operation by the company. |
Land and buildings held and used in the company's own activities are stated in the balance sheet at their revalued amounts. The revalued amounts equate to the fair value at the date of revaluation, less any depreciation or impairment losses subsequently accumulated. |
Any revaluation increase or decrease on land and buildings is credited to the property revaluation reserve. |
An amount equal to the excess of the annual depreciation charge over the depreciation charge computed on a historical cost basis, is transferred annually from the revaluation reserve to retained earnings. |
Once a revalued property is sold or retired any attributable revaluation surplus that is remaining in the property revaluation reserve is transferred to retained earnings. |
At each reporting date an assessment is made as to whether there is any indication that an asset may be impaired. Indicators may be from external, market based, sources or from internal, record based, sources. If any such indication exists, the recoverable amount of the asset is estimated and impairment losses recorded so as to reduce the carrying value to the recoverable amount. |
Stocks |
Stocks are valued at the lower of cost and net realisable value. |
In general, cost is determined on a first in first out basis and includes transport and handling costs where applicable. |
Net realisable value is the price at which stocks can be sold in the normal course of business after allowing for the cost of realisation and, where appropriate, the cost of conversion from their existing state to a finished condition. |
Provision is made where necessary for obsolete, slow-moving and defective stocks. |
ABC INDUSTRIAL DOORS LIMITED (REGISTERED NUMBER: 04122111) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
2. | ACCOUNTING POLICIES - continued |
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 balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
Deferred tax is provided in full on gains arising on the revaluation of assets and is recognised as other comprehensive income having been deducted directly from the revaluation reserve. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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 |
4. | TANGIBLE FIXED ASSETS |
Long | Plant and | Motor |
leasehold | machinery | vehicles | Totals |
£ | £ | £ | £ |
COST OR VALUATION |
At 1 January 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
ABC INDUSTRIAL DOORS LIMITED (REGISTERED NUMBER: 04122111) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
4. | TANGIBLE FIXED ASSETS - continued |
Cost or valuation at 31 December 2023 is represented by: |
Long | Plant and | Motor |
leasehold | machinery | vehicles | Totals |
£ | £ | £ | £ |
Valuation in 2021 | 245,982 | - | - | 245,982 |
Cost | 599,015 | 166,780 | 605,704 | 1,371,499 |
844,997 | 166,780 | 605,704 | 1,617,481 |
If Land and buildings had not been revalued they would have been included at the following historical cost: |
31.12.23 | 31.12.22 |
£ | £ |
Cost | 599,015 | 509,876 |
Aggregate depreciation | 47,153 | 36,112 |
Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows: |
Motor |
vehicles |
£ |
COST OR VALUATION |
At 1 January 2023 |
Additions |
Transfer to ownership | (136,980 | ) |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
Transfer to ownership | (72,544 | ) |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Hire purchase contracts and finance leases |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
ABC INDUSTRIAL DOORS LIMITED (REGISTERED NUMBER: 04122111) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Hire purchase contracts and finance leases |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.12.23 | 31.12.22 |
£ | £ |
Hire purchase contracts and finance leases | 361,914 | 319,295 |
Invoice discounting liability | 426,774 | 184,702 |
Obligations under hire purchase contracts and finance leases are secured on the assets concerned. Bank and other borrowings are secured by a fixed and floating charge over the assets of the company. |
9. | RESERVES |
Revaluation |
reserve |
£ |
At 1 January 2023 |
Transfer between reserves | (2,640 | ) |
At 31 December 2023 |
Amounts transferred between reserves represent the release of costs charged to profit and loss, specifically the excess of depreciation charges over historical cost plus prior year increases in deferred tax on revaluation gains. |
10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the year ended 31 December 2023 and the period ended 31 December 2022: |
31.12.23 | 31.12.22 |
£ | £ |
Balance outstanding at start of year |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Balance outstanding at start of year |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
ABC INDUSTRIAL DOORS LIMITED (REGISTERED NUMBER: 04122111) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
12. | ULTIMATE PARENT UNDERTAKING |
The company is a 100% subsidiary of Teckentrup (Holdings) Limited. Teckentrup (Holdings) Limited prepares group accounts including the results of the company. Its registered office is C/O Christian Douglass Accountants Limited 2 Jordan Street, Knott Mill, Manchester, England, M15 4PY. |
13. | ULTIMATE CONTROLLING PARTY |
The directors consider that there is no ultimate controlling party, |