ASI Doors Limited
Registered number: 07770166
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 30,801 22,311
Current assets
Debtors 4 72,252 68,109
Cash at bank and in hand 70,195 73,921
142,447 142,030
Creditors: amounts falling due within one year 5 (29,765) (23,513)
Net current assets 112,682 118,517
Total assets less current liabilities 143,483 140,828
Creditors: amounts falling due after more than one year 6 (22,438) (32,388)
Net assets 121,045 108,440
Capital and reserves
Called up share capital 100 100
Profit and loss account 120,945 108,340
Shareholder's funds 121,045 108,440
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Laura Jane Slatter
Director
Approved by the board on 1 October 2024
ASI Doors Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 10 9
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 16,413 71,862 88,275
Additions - 19,635 19,635
Disposals - (14,405) (14,405)
At 31 March 2024 16,413 77,092 93,505
Depreciation
At 1 April 2023 15,916 50,048 65,964
Charge for the year 497 7,047 7,544
On disposals - (10,804) (10,804)
At 31 March 2024 16,413 46,291 62,704
Net book value
At 31 March 2024 - 30,801 30,801
At 31 March 2023 497 21,814 22,311
[For revalued assets, state the years in which the assets were valued and their values. For assets revalued during the reporting period, state the names of the persons who revalued them or particulars of their qualifications for doing so and the bases of valuation used by them.]
4 Debtors 2024 2023
£ £
Trade debtors 72,114 67,971
Other debtors 138 138
72,252 68,109
5 Creditors: amounts falling due within one year 2024 2023
£ £
Corporation tax 28,677 23,266
Other taxes and social security costs (1,725) (2,603)
Other creditors 2,813 2,850
29,765 23,513
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 22,438 32,388
7 Other information
ASI Doors Limited is a private company limited by shares and incorporated in England. Its registered office is:
15 Queensway
Hoyland
Barnsley
South Yorkshire
S74 9RL
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