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REGISTERED NUMBER: 07028108 (England and Wales)















Albion Workplace Solutions Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024






Albion Workplace Solutions Limited (Registered number: 07028108)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Albion Workplace Solutions Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: D L Freili





SECRETARY: S L Freili





REGISTERED OFFICE: Unit 20 Aberaman Industrial Estate
Aberaman
Aberdare
Mid Glamorgan
CF44 6DA





REGISTERED NUMBER: 07028108 (England and Wales)





ACCOUNTANTS: O'Brien and Partners
Accountants & Business Advisors
Highdale House
7 Centre Court
Treforest Industrial Estate
Pontypridd
Rhondda Cynon Taff
CF37 5YR

Albion Workplace Solutions Limited (Registered number: 07028108)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 206,432 79,332

CURRENT ASSETS
Stocks 10,950 10,950
Debtors 5 361,859 575,819
Cash at bank and in hand 785,835 122,603
1,158,644 709,372
CREDITORS
Amounts falling due within one year 6 902,225 548,592
NET CURRENT ASSETS 256,419 160,780
TOTAL ASSETS LESS CURRENT
LIABILITIES

462,851

240,112

CREDITORS
Amounts falling due after more than one year 7 (172,124 ) (108,466 )

PROVISIONS FOR LIABILITIES 9 (46,525 ) (3,763 )
NET ASSETS 244,202 127,883

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 243,202 126,883
244,202 127,883

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 September 2024 and were signed by:





D L Freili - Director


Albion Workplace Solutions Limited (Registered number: 07028108)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Albion Workplace Solutions Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services int he ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that the future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - 33% on cost
Plant and machinery - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on cost

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.

Albion Workplace Solutions Limited (Registered number: 07028108)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to the profit and loss on a straight-line bases over the period of the lease.

Leases are classified as financial leases whenever the terms of the lease transfers substantially all risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minium lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease tern. The corresponding liability to the lessor is included on the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 15 ) .

4. TANGIBLE FIXED ASSETS
Short Plant and Motor Computer
leasehold machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 3,845 46,431 151,497 1,651 203,424
Additions - - 170,175 - 170,175
Disposals - - (54,449 ) - (54,449 )
At 31 March 2024 3,845 46,431 267,223 1,651 319,150
DEPRECIATION
At 1 April 2023 3,845 33,776 84,820 1,651 124,092
Charge for year - 4,267 18,914 - 23,181
Eliminated on disposal - - (34,555 ) - (34,555 )
At 31 March 2024 3,845 38,043 69,179 1,651 112,718
NET BOOK VALUE
At 31 March 2024 - 8,388 198,044 - 206,432
At 31 March 2023 - 12,655 66,677 - 79,332

The NBV of assets held under HP at the year end is £200,072 (2023: £67,542).


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 326,821 542,442
Other debtors 35,038 33,377
361,859 575,819

Albion Workplace Solutions Limited (Registered number: 07028108)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 16,000 12,085
Hire purchase contracts (see note 8) 43,721 17,006
Trade creditors 542,438 323,201
Taxation and social security 255,522 184,226
Other creditors 44,544 12,074
902,225 548,592

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 32,000 56,555
Hire purchase contracts (see note 8) 140,124 51,911
172,124 108,466

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.3.24 31.3.23
£    £   
Net obligations repayable:
Within one year 43,721 17,006
Between one and five years 140,124 51,911
183,845 68,917

Non-cancellable operating leases
31.3.24 31.3.23
£    £   
Within one year 3,386 15,055
Between one and five years 564 18,771
3,950 33,826

9. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 46,525 3,763

Deferred
tax
£   
Balance at 1 April 2023 3,763
Charge to Income Statement during year 42,762
Balance at 31 March 2024 46,525

Albion Workplace Solutions Limited (Registered number: 07028108)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
D L Freili
Balance outstanding at start of year 24,369 27,717
Amounts advanced 100,584 17,505
Amounts repaid (102,000 ) (20,853 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 22,953 24,369

The balance is repayable on demand. Interest is charged at 2.5% (2023: 2.5%).