Registered number
03445660
Ansell & Wakefield Engineering Limited
Unaudited Filleted Accounts
31 January 2024
Ansell & Wakefield Engineering Limited
Registered number: 03445660
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 240,000 -
Tangible assets 4 80,977 44,479
320,977 44,479
Current assets
Stocks 10,500 17,500
Debtors 5 118,649 446,441
Cash at bank and in hand 25,267 117,269
154,416 581,210
Creditors: amounts falling due within one year 6 (168,538) (144,513)
Net current (liabilities)/assets (14,122) 436,697
Net assets 306,855 481,176
Capital and reserves
Called up share capital 100 100
Profit and loss account 306,755 481,076
Shareholders' funds 306,855 481,176
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 members have 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 and delivered 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.
D Wakefield
Director
Approved by the board on 30 November 2024
Ansell & Wakefield Engineering Limited
Notes to the Accounts
for the year ended 31 January 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 (as applied to small entities by section 1A of the standard).
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 8 8
3 Intangible fixed assets £
Goodwill:
Cost
Additions 300,000
At 31 January 2024 300,000
Amortisation
Provided during the year 60,000
At 31 January 2024 60,000
Net book value
At 31 January 2024 240,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Fixtures and Fittings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 February 2023 12,908 94,007 38,148 145,063
Additions - 37,194 35,501 72,695
Disposals - - (23,158) (23,158)
At 31 January 2024 12,908 131,201 50,491 194,600
Depreciation
At 1 February 2023 11,122 74,825 14,637 100,584
Charge for the year 477 14,094 6,546 21,117
On disposals - - (8,078) (8,078)
At 31 January 2024 11,599 88,919 13,105 113,623
Net book value
At 31 January 2024 1,309 42,282 37,386 80,977
At 31 January 2023 1,786 19,182 23,511 44,479
5 Debtors 2024 2023
£ £
Trade debtors 107,149 114,930
Amounts owed by group undertakings and undertakings in which the company has a participating interest - 321,980
Directors loan account 1,277 -
Prepayments 5,277 7,173
Other debtors 4,946 2,358
118,649 446,441
6 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 58,185 -
Trade creditors 62,982 22,460
Corporation tax 3,236 43,870
Other taxes and social security costs 4,524 9,835
VAT 38,040 52,827
Directors loan account - 401
Accruals 1,260 1,260
Other creditors 311 13,860
168,538 144,513
7 Other information
Ansell & Wakefield Engineering Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 11, St Andrews Trading Estate
Third Way
Avonmouth
Bristol
BS11 9YE
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