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COMPANY REGISTRATION NUMBER: 02245064
Archidec Limited
Filleted Unaudited Financial Statements
For the year ended
31 December 2023
Archidec Limited
Balance Sheet
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
5,590
30,704
Current assets
Stocks
114,614
104,598
Debtors
6
23,323
21,689
Cash at bank and in hand
6,722
8,938
---------
---------
144,659
135,225
Creditors: amounts falling due within one year
7
111,220
88,745
---------
---------
Net current assets
33,439
46,480
--------
--------
Total assets less current liabilities
39,029
77,184
Creditors: amounts falling due after more than one year
8
14,617
26,882
Provisions
Taxation including deferred tax
1,062
5,833
--------
--------
Net assets
23,350
44,469
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
23,250
44,369
--------
--------
Shareholders funds
23,350
44,469
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Archidec Limited
Balance Sheet (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 11 September 2024 , and are signed on behalf of the board by:
J L Stevens
Director
Company registration number: 02245064
Archidec Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 82 Thornes Lane, Wakefield, West Yorkshire, WF1 5RS, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity .
Judgements and key sources of estimation uncertainty
The preparation of the financial statements under FRS 102 requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts. These estimates and judgements are continually evaluated and are based on historical experience and other factors including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates. The estimates, judgements and assumptions which have a a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next financial year are discussed below. a. Impairment of tangible assets Tangible assets are reviewed for impairment if events or changes in circumstances indicate that the carrying amount may not be recoverable. When a review for impairment is conducted, the recoverable amount of an asset or a cash generating unit is determined as the higher of fair value less costs to sell and value-in-use, calculated on the basis of management's assumptions and estimates. b. Stocks As stocks are carried at the lower of cost and net realisable value this requires the estimation of the eventual selling price of goods to customers in the future. A high degree of judgement is applied when estimating the impact on the carrying value of stocks of factors such as slow moving items, shrinkage, damage and obsolescence. The quantity, age and condition of stocks are regularly assessed as part of a range of reviews and stock counts undertake throughout the year.
Revenue recognition
Turnover comprises the sales value net of attributable VAT of work done in the period under contracts to supply goods and services to third parties.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold Property
-
1% straight line
Plant & Machinery
-
15% reducing balance
Fixtures & Fittings
-
15% reducing balance
Motor Vehicles
-
20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2022: 4 ).
5. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 January 2023
1,868
28,959
18,157
31,853
80,837
Additions
283
283
Disposals
( 31,853)
( 31,853)
-------
--------
--------
--------
--------
At 31 December 2023
1,868
28,959
18,440
49,267
-------
--------
--------
--------
--------
Depreciation
At 1 January 2023
528
26,779
15,648
7,178
50,133
Charge for the year
19
327
376
92
814
Disposals
( 7,270)
( 7,270)
-------
--------
--------
--------
--------
At 31 December 2023
547
27,106
16,024
43,677
-------
--------
--------
--------
--------
Carrying amount
At 31 December 2023
1,321
1,853
2,416
5,590
-------
--------
--------
--------
--------
At 31 December 2022
1,340
2,180
2,509
24,675
30,704
-------
--------
--------
--------
--------
6. Debtors
2023
2022
£
£
Trade debtors
14,698
12,724
Other debtors
8,625
8,965
--------
--------
23,323
21,689
--------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
10,319
7,868
Trade creditors
71,568
58,470
Corporation tax
7,137
3,193
Social security and other taxes
11,407
13,010
Other creditors
10,789
6,204
---------
--------
111,220
88,745
---------
--------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
14,617
26,882
--------
--------
9. Director's advances, credits and guarantees
There are no transactions with the director that require disclosure under section 413 of the Companies Act 2006.
10. Related party transactions
The company trades from premises that are owned by J L Stevens , no rent is charged. Included in "Creditors: Amounts falling due within one year" (note 7) is an amount of £259 (2022: £469) due to the director. The balance is unsecured, interest free and repayable on demand.