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COMPANY REGISTRATION NUMBER: 00525273
Fred Armstrong (Glass) Limited
Filleted Unaudited Abridged Financial Statements
31 December 2023
Fred Armstrong (Glass) Limited
Abridged Financial Statements
Year ended 31 December 2023
Contents
Pages
Abridged statement of financial position
1 to 2
Notes to the abridged financial statements
3 to 5
Fred Armstrong (Glass) Limited
Abridged Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Fixed Assets
Investments
6
325,000
325,000
Current Assets
Debtors
2,208
2,276
Cash at bank and in hand
101,522
88,685
---------
--------
103,730
90,961
Creditors: amounts falling due within one year
14,875
17,000
---------
--------
Net Current Assets
88,855
73,961
---------
---------
Total Assets Less Current Liabilities
413,855
398,961
Provisions
Taxation including deferred tax
49,638
49,638
---------
---------
Net Assets
364,217
349,323
---------
---------
Capital and Reserves
Called up share capital
7
100
100
Profit and loss account
364,117
349,223
---------
---------
Shareholders Funds
364,217
349,323
---------
---------
These abridged 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 abridged statement of income and retained earnings 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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.
Fred Armstrong (Glass) Limited
Abridged Statement of Financial Position (continued)
31 December 2023
These abridged financial statements were approved by the board of directors and authorised for issue on 19 September 2024 , and are signed on behalf of the board by:
Mr T P Gadd
Director
Company registration number: 00525273
Fred Armstrong (Glass) Limited
Notes to the Abridged 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 49 Brimington Road North, Chesterfield, Derbyshire, S41 9BE.
2. Statement of compliance
These abridged 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, except for the modification to a fair value basis for investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover shown in the profit and loss account represents amounts earned during the year.
Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and 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:
Plant and machinery
-
15% reducing balance
Fixtures, fittings & equipment
-
20% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Investment property
Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2022: 3 ).
5. Tangible assets
£
Cost
At 1 January 2023 and 31 December 2023
3,203
-------
Depreciation
At 1 January 2023 and 31 December 2023
3,203
-------
Carrying amount
At 31 December 2023
-------
At 31 December 2022
-------
6. Investments
Investment property
£
Cost
At 1 January 2023 and 31 December 2023
325,000
---------
Impairment
At 1 January 2023 and 31 December 2023
---------
Carrying amount
At 31 December 2023
325,000
---------
At 31 December 2022
325,000
---------
The investment property was valued in November 2017. The valuation was carried out by White & Co, Chartered Surveyors. At 31 December 2023, the directors feel that the valuation is still appropriate.
7. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
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----
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