Company Registration No. 02073694 (England and Wales)
Aston Cord Limited
Unaudited accounts
for the year ended 31 December 2023
Aston Cord Limited
Unaudited accounts
Contents
Aston Cord Limited
Company Information
for the year ended 31 December 2023
Company Number
02073694 (England and Wales)
Registered Office
Unit 12C Shepperton Business Park
Govett Avenue
Shepperton
Middlesex
TW16 7HB
United Kingdom
Accountants
Lane Accounting Limited
Denmark House, 143 High St,
Chalfont St Peter,
Gerrards Cross
Buckinghamshire
SL9 9QL
Aston Cord Limited
Statement of financial position
as at 31 December 2023
Tangible assets
11,238
15,921
Cash at bank and in hand
72,696
96,393
Creditors: amounts falling due within one year
(316,168)
(324,387)
Net current liabilities
(166,682)
(156,147)
Total assets less current liabilities
(155,444)
(140,226)
Creditors: amounts falling due after more than one year
(15,000)
(25,000)
Net liabilities
(170,444)
(165,226)
Called up share capital
100
100
Profit and loss account
(170,544)
(165,326)
Shareholders' funds
(170,444)
(165,226)
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 6 June 2024 and were signed on its behalf by
T R Ware
Director
Company Registration No. 02073694
Aston Cord Limited
Notes to the Accounts
for the year ended 31 December 2023
Aston Cord Limited is a private company, limited by shares, registered in England and Wales, registration number 02073694. The registered office is Unit 12C Shepperton Business Park, Govett Avenue, Shepperton, Middlesex, TW16 7HB, United Kingdom.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
- 25% per annum reducing balance
Motor vehicles
- 25% per annum of cost
Fixtures & fittings
- 25% per annum reducing balance
Computer equipment
- 25% per annum of cost
Other tangible fixed assets
- 25% per annum reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Aston Cord Limited
Notes to the Accounts
for the year ended 31 December 2023
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2023
22,374
135,525
43,353
201,252
At 31 December 2023
22,374
135,525
43,353
201,252
At 1 January 2023
22,288
128,031
35,012
185,331
Charge for the year
29
1,874
2,780
4,683
At 31 December 2023
22,317
129,905
37,792
190,014
At 31 December 2023
57
5,620
5,561
11,238
At 31 December 2022
86
7,494
8,341
15,921
Amounts falling due within one year
Trade debtors
50,809
36,985
Accrued income and prepayments
2,700
2,700
Other debtors
15,754
15,754
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Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
10,000
10,000
Trade creditors
82,889
88,782
Taxes and social security
15,533
14,200
Loans from directors
168,432
175,185
Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts of which
£10,000 (2022 £10,000) are secured. The bank loans and overdrafts are secured by a fixed and floating charge over the
company's assets. The finance leases are secured on the assets concerned.
Aston Cord Limited
Notes to the Accounts
for the year ended 31 December 2023
7
Creditors: amounts falling due after more than one year
2023
2022
Creditors include bank loans and net obligations under finance lease and hire purchase contracts of which £15,000 (2022
£25,000) are secured. The bank loans are secured by a fixed and floating charge over the company's assets. The finance
leases are secured on the assets concerned.
Allotted, called up and fully paid:
80 Ordinary shares of £1 each
80
80
20 B Ordinary Shares of £1 each
20
20
The company operates a defined contribution scheme for its employees. The assets of the scheme are held separately from
those of the company in an independently administered fund. During the year £13,467 was contributed (2022 - £14,419).
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Average number of employees
During the year the average number of employees was 14 (2022: 14).