Registered number
SC652393
Anchor Timber Buildings Ltd
Filleted Accounts
31 January 2024
Anchor Timber Buildings Ltd
Registered number: SC652393
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 6,000 12,000
Tangible assets 4 19,680 6,712
25,680 18,712
Current assets
Stocks 149,855 149,855
Debtors 5 39,981 60,156
Cash at bank and in hand 18,150 3,443
207,986 213,454
Creditors: amounts falling due within one year 6 (37,408) (53,526)
Net current assets 170,578 159,928
Total assets less current liabilities 196,258 178,640
Creditors: amounts falling due after more than one year 7 (91,638) (66,132)
Net assets 104,620 112,508
Capital and reserves
Profit and loss account 104,620 112,508
Shareholders' funds 104,620 112,508
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.
J Devanny
Director
Approved by the board on 30 May 2024
Anchor Timber Buildings Ltd
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
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.
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:
Motor vehicles 25% by Reducing Balance method
Fixtures, fittings, tools and equipment 15% by Reducing Balance method
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 asset is recognised in respect of a tax loss that can be carried forwards to be used against eligible profits in future tradni periods
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Intangible fixed assets £
Goodwill:
Cost
At 1 February 2023 30,000
At 31 January 2024 30,000
Amortisation
At 1 February 2023 18,000
Provided during the year 6,000
At 31 January 2024 24,000
Net book value
At 31 January 2024 6,000
At 31 January 2023 12,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 February 2023 513 7,500 8,013
Additions 6,000 9,750 15,750
At 31 January 2024 6,513 17,250 23,763
Depreciation
At 1 February 2023 51 1,250 1,301
Charge for the year 469 2,313 2,782
At 31 January 2024 520 3,563 4,083
Net book value
At 31 January 2024 5,993 13,687 19,680
At 31 January 2023 462 6,250 6,712
5 Debtors 2024 2023
£ £
Trade debtors 39,981 60,156
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 28,332 34,055
Taxation and social security costs 9,076 19,471
37,408 53,526
7 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 91,638 66,132
8 Other information
Anchor Timber Buildings Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is:
No. 1 Victoria Road
Kirkcaldy
Fife
KY1 1DT
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