Company Registration No. 03671997 (England and Wales)
Abrasive Power Tools Limited
Unaudited accounts
for the year ended 31 December 2023
Abrasive Power Tools Limited
Unaudited accounts
Contents
Abrasive Power Tools Limited
Company Information
for the year ended 31 December 2023
Company Number
03671997 (England and Wales)
Registered Office
1 The Courtyard Goldsmith Way
Eliot Business Park
Nuneaton
Warwickshire
CV10 7RJ
United Kingdom
Accountants
TaxSense Accountants Ltd
203 West Street
Fareham
Hants
PO16 0EN
Abrasive Power Tools Limited
Accountants' report
Accountants' report to the director of Abrasive Power Tools Limited on the preparation of the unaudited statutory accounts for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Abrasive Power Tools Limited for the year ended
31 December 2023 as set out on pages
5 -
7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Abrasive Power Tools Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Abrasive Power Tools Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Abrasive Power Tools Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Abrasive Power Tools Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Abrasive Power Tools Limited. You consider that Abrasive Power Tools Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Abrasive Power Tools Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
TaxSense Accountants Ltd
203 West Street
Fareham
Hants
PO16 0EN
2 September 2024
Abrasive Power Tools Limited
Statement of financial position
as at 31 December 2023
Tangible assets
5,610
13,263
Cash at bank and in hand
42,112
20,292
Creditors: amounts falling due within one year
(30,324)
(110,332)
Net current assets
132,768
61,674
Total assets less current liabilities
138,378
74,937
Creditors: amounts falling due after more than one year
(85,311)
(61,379)
Called up share capital
1,400
1,400
Share premium
399,600
399,600
Profit and loss account
(347,933)
(387,442)
Shareholders' funds
53,067
13,558
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 director acknowledges his 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 and authorised for issue on 2 September 2024 and were signed on its behalf by
Andy Mumford
Director
Company Registration No. 03671997
Abrasive Power Tools Limited
Notes to the Accounts
for the year ended 31 December 2023
Abrasive Power Tools Limited is a private company, limited by shares, registered in England and Wales, registration number 03671997. The registered office is 1 The Courtyard Goldsmith Way, Eliot Business Park, Nuneaton, Warwickshire, CV10 7RJ, United Kingdom.
2
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.
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
4 year straightline
Motor vehicles
25% Straight line
Computer equipment
25% Straight line
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2023
9,244
24,457
-
33,701
At 31 December 2023
9,244
24,457
795
34,496
At 1 January 2023
3,106
17,332
-
20,438
Charge for the year
2,311
6,114
23
8,448
At 31 December 2023
5,417
23,446
23
28,886
At 31 December 2023
3,827
1,011
772
5,610
At 31 December 2022
6,138
7,125
-
13,263
Abrasive Power Tools Limited
Notes to the Accounts
for the year ended 31 December 2023
Amounts falling due within one year
Trade debtors
39,316
69,041
Accrued income and prepayments
-
714
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
15,430
-
Trade creditors
2,370
95,409
Taxes and social security
2,818
2,775
7
Creditors: amounts falling due after more than one year
2023
2022
Other creditors
23,717
26,865
Allotted, called up and fully paid:
1,400 Ordinary shares of £1 each
1,400
1,400
9
Average number of employees
During the year the average number of employees was 4 (2022: 2).