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REGISTERED NUMBER: 07502269 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

AFFORDABLE SHUTTERS LIMITED

AFFORDABLE SHUTTERS LIMITED (REGISTERED NUMBER: 07502269)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


AFFORDABLE SHUTTERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: P M J Vincent
Mrs M A Vincent





REGISTERED OFFICE: Bryndon House
5/7 Berry Road
Newquay
Cornwall
TR7 AD





REGISTERED NUMBER: 07502269 (England and Wales)





ACCOUNTANTS: Whitakers
Chartered Accountants
Bryndon House
5/7 Berry Road
Newquay
Cornwall
TR7 1AD

AFFORDABLE SHUTTERS LIMITED (REGISTERED NUMBER: 07502269)

STATEMENT OF FINANCIAL POSITION
31 JANUARY 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 73,177 86,780

CURRENT ASSETS
Debtors 5 261,524 314,322
Cash at bank and in hand 500 660
262,024 314,982
CREDITORS
Amounts falling due within one year 6 282,831 335,173
NET CURRENT LIABILITIES (20,807 ) (20,191 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

52,370

66,589

CREDITORS
Amounts falling due after more than one
year

7

(43,088

)

(55,658

)

PROVISIONS FOR LIABILITIES (8,236 ) (9,189 )
NET ASSETS 1,046 1,742

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 1,044 1,740
SHAREHOLDERS' FUNDS 1,046 1,742

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

AFFORDABLE SHUTTERS LIMITED (REGISTERED NUMBER: 07502269)

STATEMENT OF FINANCIAL POSITION - continued
31 JANUARY 2024


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 16 September 2024 and were signed on its behalf by:




P M J Vincent - Director



Mrs M A Vincent - Director


AFFORDABLE SHUTTERS LIMITED (REGISTERED NUMBER: 07502269)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Affordable Shutters 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.

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.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

AFFORDABLE SHUTTERS LIMITED (REGISTERED NUMBER: 07502269)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 February 2023
and 31 January 2024 17,997 110,479 6,431 134,907
DEPRECIATION
At 1 February 2023 13,410 28,362 6,355 48,127
Charge for year 688 12,904 11 13,603
At 31 January 2024 14,098 41,266 6,366 61,730
NET BOOK VALUE
At 31 January 2024 3,899 69,213 65 73,177
At 31 January 2023 4,587 82,117 76 86,780

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 February 2023
and 31 January 2024 110,479
DEPRECIATION
At 1 February 2023 28,362
Charge for year 12,904
At 31 January 2024 41,266
NET BOOK VALUE
At 31 January 2024 69,213
At 31 January 2023 82,117

5. DEBTORS
31.1.24 31.1.23
£    £   
Amounts falling due within one year:
Trade debtors 105,571 176,227
Other debtors 2,967 2,144
Directors' current accounts 112,909 100,173
221,447 278,544

AFFORDABLE SHUTTERS LIMITED (REGISTERED NUMBER: 07502269)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

5. DEBTORS - continued
31.1.24 31.1.23
£    £   
Amounts falling due after more than one year:
S455 Corporation tax
recoverable 40,077 35,778
40,077 35,778

Aggregate amounts 261,524 314,322

The debtor in respect of the directors' current accounts relates to amounts owing from Mr & Mrs P Vincent jointly.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 79,561 72,200
Other loans 38,000 28,000
Hire purchase contracts 11,844 14,388
Trade creditors 141 6,788
Corporation tax 46,655 67,679
Social security and other taxes 12,792 35,844
Other creditors 485 1,426
Accruals & deferred income 93,353 108,848
282,831 335,173

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans - 1-2 years 6,000 8,572
Hire purchase contracts 37,088 47,086
43,088 55,658

8. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Hire purchase contracts 48,932 61,474

The hire purchase liability is secured by means of a first charge over the asset(s) specified in the relevant agreement(s).

AFFORDABLE SHUTTERS LIMITED (REGISTERED NUMBER: 07502269)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2024 and 31 January 2023:

31.1.24 31.1.23
£    £   
P M J Vincent and Mrs M A Vincent
Balance outstanding at start of year 100,173 42,871
Amounts advanced 88,735 174,915
Amounts repaid (75,999 ) (117,613 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 112,909 100,173

For the period under review, the company was controlled by its directors, Mr P Vincent & Mrs M Vincent, by virtue of the fact that, between them, they own 100% of the company's issued Ordinary share capital.

During the year, the company also rented premises owned personally by Mr & Mrs Vincent at a cost to the company of £12,869. The directors have given a personal guarantee relating to the company's business premises which is held as security for any bank overdraft.

Interest at the official rate has been charged by the company on amounts advanced to the directors during the period.