IRIS Accounts Production v24.2.0.383 02784976 Board of Directors Board of Directors 1.4.23 31.3.24 31.3.24 true false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh027849762023-03-31027849762024-03-31027849762023-04-012024-03-31027849762022-03-31027849762022-04-012023-03-31027849762023-03-3102784976ns15:EnglandWales2023-04-012024-03-3102784976ns14:PoundSterling2023-04-012024-03-3102784976ns10:Director12023-04-012024-03-3102784976ns10:Director22023-04-012024-03-3102784976ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3102784976ns10:SmallEntities2023-04-012024-03-3102784976ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3102784976ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3102784976ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3102784976ns10:FullAccounts2023-04-012024-03-3102784976ns10:OrdinaryShareClass12023-04-012024-03-3102784976ns10:CompanySecretary12023-04-012024-03-3102784976ns10:RegisteredOffice2023-04-012024-03-3102784976ns5:CurrentFinancialInstruments2024-03-3102784976ns5:CurrentFinancialInstruments2023-03-3102784976ns5:Non-currentFinancialInstruments2024-03-3102784976ns5:Non-currentFinancialInstruments2023-03-3102784976ns5:ShareCapital2024-03-3102784976ns5:ShareCapital2023-03-3102784976ns5:RetainedEarningsAccumulatedLosses2024-03-3102784976ns5:RetainedEarningsAccumulatedLosses2023-03-3102784976ns5:PlantMachinery2023-04-012024-03-3102784976ns5:PlantMachinery2023-03-3102784976ns5:PlantMachinery2024-03-3102784976ns5:PlantMachinery2023-03-3102784976ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-3102784976ns5:WithinOneYearns5:CurrentFinancialInstruments2023-03-3102784976ns10:OrdinaryShareClass12024-03-31
REGISTERED NUMBER: 02784976 (England and Wales)















A E FAULKS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






A E FAULKS LIMITED (REGISTERED NUMBER: 02784976)






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




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 6


A E FAULKS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: T E Faulks
P A Frost





SECRETARY: P A Frost





REGISTERED OFFICE: 26 Park Road
Melton Mowbray
Leicestershire
LE13 1TT





REGISTERED NUMBER: 02784976 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
26 Park Road
Melton Mowbray
Leicestershire
LE13 1TT

A E FAULKS LIMITED (REGISTERED NUMBER: 02784976)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 4,075,044 4,122,931

CURRENT ASSETS
Inventories 363,908 343,714
Debtors 5 768,960 708,026
Cash at bank 1,516,914 1,401,406
2,649,782 2,453,146
CREDITORS
Amounts falling due within one year 6 1,242,801 1,273,076
NET CURRENT ASSETS 1,406,981 1,180,070
TOTAL ASSETS LESS CURRENT LIABILITIES 5,482,025 5,303,001

CREDITORS
Amounts falling due after more than one year 7 (834,075 ) (915,274 )

PROVISIONS FOR LIABILITIES (816,238 ) (725,458 )
NET ASSETS 3,831,712 3,662,269

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 3,831,612 3,662,169
SHAREHOLDERS' FUNDS 3,831,712 3,662,269

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 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.

A E FAULKS LIMITED (REGISTERED NUMBER: 02784976)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 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 27 September 2024 and were signed on its behalf by:




T E Faulks - Director



P A Frost - Director


A E FAULKS LIMITED (REGISTERED NUMBER: 02784976)

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

1. STATUTORY INFORMATION

A E Faulks 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
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance, 20% on reducing balance and 15% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Inventories
Work in progress is valued at the lower of cost and fair value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing inventories to their present location and condition.

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 statement of financial position. 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.

A E FAULKS LIMITED (REGISTERED NUMBER: 02784976)

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

2. ACCOUNTING POLICIES - continued

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 36 (2023 - 35 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 April 2023 7,800,310
Additions 1,443,525
Disposals (1,163,167 )
At 31 March 2024 8,080,668
DEPRECIATION
At 1 April 2023 3,677,379
Charge for year 1,033,870
Eliminated on disposal (705,625 )
At 31 March 2024 4,005,624
NET BOOK VALUE
At 31 March 2024 4,075,044
At 31 March 2023 4,122,931

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 742,474 672,776
Other debtors - 14,948
Prepayments 26,486 20,302
768,960 708,026

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 724,061 820,283
Trade creditors 147,419 167,365
Other taxes and social security 102,233 32,028
Other creditors 34,006 32,018
Directors' loan accounts 13,897 13,897
Accrued expenses 221,185 207,485
1,242,801 1,273,076

A E FAULKS LIMITED (REGISTERED NUMBER: 02784976)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 834,075 915,274

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 1,558,136 1,735,557

The hire purchase and finance lease creditors are secured on the assets purchased.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

10. OTHER FINANCIAL COMMITMENTS

The company has financial commitments due as follows:

20242023
££
Due in less than one year 30,00030,000
Due between two and five years60,00090,000
90,000120,000