Registered number
08794642
Albastone Projects Limited
Report and Accounts
30 November 2023
Albastone Projects Limited
Registered number: 08794642
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 160,153 180,167
Current assets
Stocks 291,445 115,889
Debtors 4 14,405 146,936
Cash at bank and in hand 81,139 59,252
386,989 322,077
Creditors: amounts falling due within one year 5 (381,226) (258,704)
Net current assets 5,763 63,373
Total assets less current liabilities 165,916 243,540
Creditors: amounts falling due after more than one year 6 (2,458) (112,009)
Net assets 163,458 131,531
Capital and reserves
Called up share capital 100 100
Profit and loss account 163,358 131,431
Shareholder's funds 163,458 131,531
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Sadik Gecaj
Director
Approved by the board on 28 August 2024
Albastone Projects Limited
Notes to the Accounts
for the year ended 30 November 2023
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.
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:
Plant and machinery 15% reducing balance
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.
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.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 6 6
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 December 2022 253,387 - 253,387
Additions - 7,620 7,620
At 30 November 2023 253,387 7,620 261,007
Depreciation
At 1 December 2022 73,220 - 73,220
Charge for the year 27,025 609 27,634
At 30 November 2023 100,245 609 100,854
Net book value
At 30 November 2023 153,142 7,011 160,153
At 30 November 2022 180,167 - 180,167
4 Debtors 2023 2022
£ £
Trade debtors - 114,198
Other debtors 14,405 32,738
14,405 146,936
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 25,906 35,778
Obligations under finance lease and hire purchase contracts 14,290 22,035
Trade creditors 256,633 180,430
Corporation tax 3,254 11,698
Other taxes and social security costs 34,904 7,348
Other creditors 46,239 1,415
381,226 258,704
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 2,458 112,009
7 Other information
Albastone Projects Limited is a private company limited by shares and incorporated in England. Its registered office is:
Sinckot House
211 Station Road
Harrow
Middlesex
HA1 2TP
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