REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
ARMATOOL DISTRIBUTORS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
ARMATOOL DISTRIBUTORS LIMITED |
ARMATOOL DISTRIBUTORS LIMITED (REGISTERED NUMBER: 02666096) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
ARMATOOL DISTRIBUTORS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
Chart House |
2 Effingham Road |
Reigate |
Surrey |
RH2 7JN |
ARMATOOL DISTRIBUTORS LIMITED (REGISTERED NUMBER: 02666096) |
BALANCE SHEET |
31 DECEMBER 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks | 5 |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 9 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Revaluation reserve | 11 |
Capital redemption reserve | 11 |
Retained earnings | 11 |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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. |
ARMATOOL DISTRIBUTORS LIMITED (REGISTERED NUMBER: 02666096) |
BALANCE SHEET - continued |
31 DECEMBER 2023 |
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 |
ARMATOOL DISTRIBUTORS LIMITED (REGISTERED NUMBER: 02666096) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
Armatool Distributors Limited is a |
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. |
Tangible fixed assets |
Improvements to property | - |
Fixtures and fittings | - |
Motor vehicles | - |
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 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. |
Hire purchase and leasing commitments |
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. |
ARMATOOL DISTRIBUTORS LIMITED (REGISTERED NUMBER: 02666096) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
2. | ACCOUNTING POLICIES - continued |
Going concern |
Armatool Distributors Limited has prepared financial statements on a going concern basis as the directors are confident that the company will continue in business and to trade profitably for the foreseeable future. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
Freehold | to | and | Motor |
property | property | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
COST OR VALUATION |
At 1 January 2023 |
and 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
Charge written back | (11,500 | ) | - | - | - | (11,500 | ) |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
Included in cost or valuation of land and buildings is freehold land of £ 575,000 (2022 - £ 575,000 ) which is not depreciated. |
Cost or valuation at 31 December 2023 is represented by: |
Improvements | Fixtures |
Freehold | to | and | Motor |
property | property | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
Valuation in 2004 | 97,374 | - | - | - | 97,374 |
Valuation in 2005 | 150,000 | - | - | - | 150,000 |
Valuation in 2006 | 40,000 | - | - | - | 40,000 |
Valuation in 2011 | (20,000 | ) | - | - | - | (20,000 | ) |
Valuation in 2013 | 80,000 | - | - | - | 80,000 |
Valuation in 2014 | 30,000 | - | - | - | 30,000 |
Valuation in 2016 | (7,500 | ) | - | - | - | (7,500 | ) |
Valuation in 2018 | 207,500 | - | - | - | 207,500 |
Valuation in 2021 | 320,000 | - | - | - | 320,000 |
Cost | 252,626 | 35,896 | 36,203 | 5,999 | 330,724 |
1,150,000 | 35,896 | 36,203 | 5,999 | 1,228,098 |
ARMATOOL DISTRIBUTORS LIMITED (REGISTERED NUMBER: 02666096) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
4. | TANGIBLE FIXED ASSETS - continued |
If freehold land and buildings had not been revalued they would have been included at the following historical cost: |
2023 | 2022 |
£ | £ |
Cost | 252,626 | 252,626 |
Aggregate depreciation | 58,100 | 58,100 |
Value of land in freehold land and buildings | 126,313 | 126,313 |
Freehold land and buildings were valued on an open market basis on 31 December 2023 by the Directors . |
5. | STOCKS |
2023 | 2022 |
£ | £ |
Stocks |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Prepayments |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Tax |
Social security and other taxes |
VAT | 55,148 | 42,328 |
Other creditors |
Directors' current accounts | 1,727 | 917 |
8. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2023 | 2022 |
£ | £ |
Within one year |
Between one and five years |
ARMATOOL DISTRIBUTORS LIMITED (REGISTERED NUMBER: 02666096) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
9. | PROVISIONS FOR LIABILITIES |
2023 | 2022 |
£ | £ |
Deferred tax |
Provision for the year | 172,949 | 173,443 |
Deferred |
tax |
£ |
Balance at 1 January 2023 |
Accelerated capital allowance | (494 | ) |
Balance at 31 December 2023 |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary A | £1 | 50 | 50 |
Ordinary B | £1 | 100 | 100 |
150 | 150 |
11. | RESERVES |
Capital |
Retained | Revaluation | redemption |
earnings | reserve | reserve | Totals |
£ | £ | £ | £ |
At 1 January 2023 | 1,748,799 |
Profit for the year |
Dividends | ( |
) | ( |
) |
At 31 December 2023 | 1,961,443 |
12. | ULTIMATE CONTROLLING PARTY |
The company is under the control of Jim Lacey, a director of the company. |