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REGISTERED NUMBER: 13465781 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Access Insulation & Coatings Ltd

Access Insulation & Coatings Ltd (Registered number: 13465781)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Access Insulation & Coatings Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: P Bell
C Nicholson





REGISTERED OFFICE: Unit 10 Letitia Industrial Estate
Middlesbrough
Cleveland
TS5 4BE





REGISTERED NUMBER: 13465781 (England and Wales)





ACCOUNTANTS: SKS Bailey Group Limited
Oaklea House
46 Coatham Road
Redcar
TS10 1RS

Access Insulation & Coatings Ltd (Registered number: 13465781)

Balance Sheet
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 3 102,000 49,554

CURRENT ASSETS
Debtors 4 304,721 412,515
Cash at bank and in hand 654,655 283,121
959,376 695,636
CREDITORS
Amounts falling due within one year 5 (266,972 ) (320,016 )
NET CURRENT ASSETS 692,404 375,620
TOTAL ASSETS LESS CURRENT
LIABILITIES

794,404

425,174

CREDITORS
Amounts falling due after more than one year 6 (31,777 ) (39,531 )

PROVISIONS FOR LIABILITIES (14,690 ) (9,415 )
NET ASSETS 747,937 376,228

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 747,837 376,128
747,937 376,228

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Access Insulation & Coatings Ltd (Registered number: 13465781)

Balance Sheet - continued
31 December 2023


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 Board of Directors and authorised for issue on 20 September 2024 and were signed on its behalf by:





C Nicholson - Director


Access Insulation & Coatings Ltd (Registered number: 13465781)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. 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.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on reducing balance and 15% on reducing balance

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.

HIRE PURCHASE AND LEASING COMMITMENTS
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Access Insulation & Coatings Ltd (Registered number: 13465781)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 January 2023 - - 50,380 50,380
Additions 4,580 1,370 60,800 66,750
At 31 December 2023 4,580 1,370 111,180 117,130
DEPRECIATION
At 1 January 2023 - - 826 826
Charge for year 231 20 14,053 14,304
At 31 December 2023 231 20 14,879 15,130
NET BOOK VALUE
At 31 December 2023 4,349 1,350 96,301 102,000
At 31 December 2022 - - 49,554 49,554

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2023
and 31 December 2023 50,380
DEPRECIATION
At 1 January 2023 826
Charge for year 12,595
At 31 December 2023 13,421
NET BOOK VALUE
At 31 December 2023 36,959
At 31 December 2022 49,554

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 304,721 412,270
Prepayments - 245
304,721 412,515

Access Insulation & Coatings Ltd (Registered number: 13465781)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 9,209 9,984
Trade creditors 107,537 70,714
Corporation tax 113,107 78,841
Social security and other tax (21,356 ) (5,642 )
VAT 50,744 60,519
Other creditors - 100,000
Accrued expenses 7,731 5,600
266,972 320,016

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 31,777 39,531

7. RELATED PARTY DISCLOSURES

Trade debtors includes £867 due from a company over which the directors have common control . Trade creditors includes £52,703 due to that company.
Turnover includes £192,830 sales to that company and £75,951 purchases from that company during the year.