Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31truetrue12023-03-20falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 14741746 2023-03-19 14741746 2023-03-20 2024-03-31 14741746 2022-03-20 2023-03-19 14741746 2024-03-31 14741746 c:Director1 2023-03-20 2024-03-31 14741746 d:PlantMachinery 2023-03-20 2024-03-31 14741746 d:PlantMachinery 2024-03-31 14741746 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-03-20 2024-03-31 14741746 d:FurnitureFittings 2023-03-20 2024-03-31 14741746 d:FurnitureFittings 2024-03-31 14741746 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-03-20 2024-03-31 14741746 d:OwnedOrFreeholdAssets 2023-03-20 2024-03-31 14741746 d:CurrentFinancialInstruments 2024-03-31 14741746 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 14741746 d:ShareCapital 2024-03-31 14741746 d:RetainedEarningsAccumulatedLosses 2024-03-31 14741746 c:OrdinaryShareClass1 2023-03-20 2024-03-31 14741746 c:OrdinaryShareClass1 2024-03-31 14741746 c:FRS102 2023-03-20 2024-03-31 14741746 c:AuditExempt-NoAccountantsReport 2023-03-20 2024-03-31 14741746 c:FullAccounts 2023-03-20 2024-03-31 14741746 c:PrivateLimitedCompanyLtd 2023-03-20 2024-03-31 14741746 e:PoundSterling 2023-03-20 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 14741746










ACCESS COMPOSITES LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2024

 
ACCESS COMPOSITES LTD
REGISTERED NUMBER: 14741746

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
Note
£

Fixed assets
  

Tangible assets
 4 
1,964

  
1,964

Current assets
  

Stocks
  
3,674

Cash at bank and in hand
  
1,568

  
5,242

Creditors: amounts falling due within one year
 5 
(19,858)

Net current (liabilities)/assets
  
 
 
(14,616)

Total assets less current liabilities
  
(12,652)

  

Net (liabilities)/assets
  
(12,652)


Capital and reserves
  

Called up share capital 
 6 
1

Profit and loss account
  
(12,653)

  
(12,652)


The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 11 October 2024.




Andrew Sutton
Director

The notes on pages 3 to 5 form part of these financial statements.
Page 1

 
ACCESS COMPOSITES LTD
REGISTERED NUMBER: 14741746

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024


Page 2

 
ACCESS COMPOSITES LTD
 

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

1.


GENERAL INFORMATION

Access Composites Ltd is a UK company incorporated in England and Wales with a registered number of 14741746 and office 6 Furzewood Road, Bristol, BS15 4HH 

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
ACCESS COMPOSITES LTD
 

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

2.ACCOUNTING POLICIES (CONTINUED)


2.4
TANGIBLE FIXED ASSETS (CONTINUED)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
33%
straight line basis
Fixtures and fittings
-
33%
straight line basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


EMPLOYEES




The average monthly number of employees, including directors, during the period was 1.

Page 4

 
ACCESS COMPOSITES LTD
 

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

4.


TANGIBLE FIXED ASSETS





Plant and machinery
Fixtures and fittings
Total

£
£
£



COST OR VALUATION


Additions
3,575
1,574
5,149



At 31 March 2024

3,575
1,574
5,149



DEPRECIATION


Charge for the period on owned assets
2,360
825
3,185



At 31 March 2024

2,360
825
3,185



NET BOOK VALUE



At 31 March 2024
1,215
749
1,964


5.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
£

Other creditors
18,358

Accruals and deferred income
1,500

19,858



6.


SHARE CAPITAL

2024
£
ALLOTTED, CALLED UP AND FULLY PAID


1 Ordinary share of £1.00
1


During the period 1 share with a nominal value of £1 was allotted. 


Page 5