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REGISTERED NUMBER: 11185135 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

AFB Kits Ltd

AFB Kits Ltd (Registered number: 11185135)






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


AFB Kits Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Mr K W Glendon





REGISTERED OFFICE: Cloth Hall
150 Drake Street
Rochdale
Lancashire
OL16 1PX





REGISTERED NUMBER: 11185135 (England and Wales)





ACCOUNTANTS: PKW LLP Chartered Accountants
Cloth Hall
150 Drake Street
Rochdale
Lancashire
OL16 1PX

AFB Kits Ltd (Registered number: 11185135)

Balance Sheet
31 December 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Stocks 4,735 6,093
Debtors 4 11,744 20,658
Cash at bank and in hand 10,758 4,962
27,237 31,713
CREDITORS
Amounts falling due within one year 5 10,490 15,624
NET CURRENT ASSETS 16,747 16,089
TOTAL ASSETS LESS CURRENT
LIABILITIES

16,747

16,089

CREDITORS
Amounts falling due after more than one year 6 3,554 5,988
NET ASSETS 13,193 10,101

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 13,093 10,001
SHAREHOLDERS' FUNDS 13,193 10,101

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 3 September 2024 and were signed by:





Mr K W Glendon - Director


AFB Kits Ltd (Registered number: 11185135)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

AFB Kits Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 4,823
Directors' loan accounts 8,477 12,568
S455 tax recoverable 3,267 3,267
11,744 20,658

AFB Kits Ltd (Registered number: 11185135)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 2,434 2,374
Other loans 181 -
Trade creditors 3,964 7,442
Corporation tax 1,595 1,866
Social security and other taxes 396 152
Other creditors 21 -
Accruals and deferred income 1,899 3,790
10,490 15,624

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 2,495 2,434
Bank loans - 2-5 years 1,059 3,554
3,554 5,988

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
Mr K W Glendon
Balance outstanding at start of year 12,568 10,051
Amounts advanced 4,000 2,517
Amounts repaid (8,091 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 8,477 12,568

8. RELATED PARTY DISCLOSURES

Included within creditors are shareholder loans totalling £181 (2022: £nil).