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REGISTERED NUMBER: 05391477 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Able Canopies Limited

Able Canopies Limited (Registered number: 05391477)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Able Canopies Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: Mr S Jerram
Mr M Wood
Mrs T Meakins
Mrs L Wood





REGISTERED OFFICE: 9-11 Faraday Close
Clacton-On-Sea
Essex
CO15 4TR





REGISTERED NUMBER: 05391477 (England and Wales)





ACCOUNTANTS: Accsys Accountants Limited
Chartered Accountants
Trade Fair House
2 West Court
Enterprise Road
Maidstone
Kent
ME15 6JD

Able Canopies Limited (Registered number: 05391477)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 48,961 60,737
48,961 60,737

CURRENT ASSETS
Stocks 112,164 96,628
Debtors 6 249,223 552,452
Cash at bank and in hand 1,670,083 1,561,842
2,031,470 2,210,922
CREDITORS
Amounts falling due within one year 7 442,905 983,084
NET CURRENT ASSETS 1,588,565 1,227,838
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,637,526

1,288,575

CREDITORS
Amounts falling due after more than one
year

8

(6,726

)

(17,926

)

PROVISIONS FOR LIABILITIES (231,663 ) (217,372 )
NET ASSETS 1,399,137 1,053,277

CAPITAL AND RESERVES
Called up share capital 100 100
Share Purchase Account (1,983,249 ) (1,983,249 )
Retained earnings 3,382,286 3,036,426
1,399,137 1,053,277

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

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

Able Canopies Limited (Registered number: 05391477)

Balance Sheet - continued
31 May 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 Statement of Income and Retained Earnings 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:




Mr M Wood - Director Mrs T Meakins - Director




Mr S Jerram - Director


Able Canopies Limited (Registered number: 05391477)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Able Canopies 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.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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

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 14 (2023 - 16 ) .

Able Canopies Limited (Registered number: 05391477)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 16,000
AMORTISATION
At 1 June 2023
and 31 May 2024 16,000
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2023 19,627 37,010 79,480 64,269 200,386
Additions 1,073 6,816 - 595 8,484
Disposals (3,400 ) (6,831 ) (17,750 ) (22,531 ) (50,512 )
At 31 May 2024 17,300 36,995 61,730 42,333 158,358
DEPRECIATION
At 1 June 2023 15,764 34,193 34,672 55,020 139,649
Charge for year 1,100 1,875 10,746 2,606 16,327
Eliminated on disposal (3,400 ) (6,673 ) (15,924 ) (20,582 ) (46,579 )
At 31 May 2024 13,464 29,395 29,494 37,044 109,397
NET BOOK VALUE
At 31 May 2024 3,836 7,600 32,236 5,289 48,961
At 31 May 2023 3,863 2,817 44,808 9,249 60,737

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 204,366 482,032
Other debtors 44,857 70,420
249,223 552,452

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 4,738 1,622
Hire purchase contracts 11,200 10,651
Trade creditors 80,880 105,396
Taxation and social security 204,419 252,116
Other creditors 141,668 613,299
442,905 983,084

Able Canopies Limited (Registered number: 05391477)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts 6,726 17,926

9. OTHER FINANCIAL COMMITMENTS

The total amount of financial commitments not included in the balance sheet is £39,798 (2023: £58,138).