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COMPANY REGISTRATION NUMBER: 03758230
Allington Home Improvements Limited
Filleted Unaudited Financial Statements
31 March 2024
Allington Home Improvements Limited
Financial Statements
Year ended 31 March 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Allington Home Improvements Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed assets
Intangible assets
5
1,000
3,000
Tangible assets
6
714
-------
-------
1,714
3,000
Current assets
Debtors
7
69,681
85,678
Cash at bank and in hand
728
22,172
--------
---------
70,409
107,850
Creditors: amounts falling due within one year
8
34,050
39,902
--------
---------
Net current assets
36,359
67,948
--------
--------
Total assets less current liabilities
38,073
70,948
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
37,973
70,848
--------
--------
Shareholders funds
38,073
70,948
--------
--------
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 statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 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 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 financial statements .
Allington Home Improvements Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 6 September 2024 , and are signed on behalf of the board by:
Mr S B Zachry
Director
Company registration number: 03758230
Allington Home Improvements Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 17 Stanmore Court, Canterbury, Kent, CT1 3DS.
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, as modified by the revaluation of certain financial assets and liabilities and 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.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
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.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
5% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
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:
Freehold property
-
25% straight line
Plant and machinery
-
20% straight line
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. 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. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
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 2 (2023: 3 ).
5. Intangible assets
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
40,000
--------
Amortisation
At 1 April 2023
37,000
Charge for the year
2,000
--------
At 31 March 2024
39,000
--------
Carrying amount
At 31 March 2024
1,000
--------
At 31 March 2023
3,000
--------
6. Tangible assets
Freehold property
Plant and machinery
Total
£
£
£
Cost
At 1 April 2023
2,800
2,894
5,694
Additions
752
752
-------
-------
-------
At 31 March 2024
2,800
3,646
6,446
-------
-------
-------
Depreciation
At 1 April 2023
2,800
2,894
5,694
Charge for the year
38
38
-------
-------
-------
At 31 March 2024
2,800
2,932
5,732
-------
-------
-------
Carrying amount
At 31 March 2024
714
714
-------
-------
-------
At 31 March 2023
-------
-------
-------
7. Debtors
2024
2023
£
£
Other debtors
69,681
85,678
--------
--------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
12,460
Social security and other taxes
15,243
5,229
Other creditors
18,807
22,213
--------
--------
34,050
39,902
--------
--------
9. Directors' advances, credits and guarantees
At the year end the directors owed the company £49,641 (2023: £65,638). During the year aggregate advances of £98,000 were made by the directors and aggregate repayments of £115,476 were made by the directors. Interest of £1,479 was charged on the outstanding balance.
10. Related party transactions
At the year end the company owed £12,306 to companies associated by common control (2023: £15,928).