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REGISTERED NUMBER: 07858299 (England and Wales)















Albino Builders Limited

Unaudited Financial Statements for the Year Ended 31 March 2024






Albino Builders Limited (Registered number: 07858299)






Contents of the Financial Statements
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Albino Builders Limited

Company Information
for the year ended 31 March 2024







DIRECTORS: A Guidi
M Guidi
J Guidi





REGISTERED OFFICE: One New Street
Wells
Somerset
BA5 2LA





REGISTERED NUMBER: 07858299 (England and Wales)





ACCOUNTANTS: Webb & Co Ltd
Accountants and Business Advisers
One New Street
Wells
Somerset
BA5 2LA

Albino Builders Limited (Registered number: 07858299)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 3 - -
Tangible assets 4 19,739 18,528
19,739 18,528

CURRENT ASSETS
Stocks 20,893 39,625
Debtors 5 119,832 115,259
Cash at bank 52,667 14,598
193,392 169,482
CREDITORS
Amounts falling due within one year 6 144,133 158,841
NET CURRENT ASSETS 49,259 10,641
TOTAL ASSETS LESS CURRENT
LIABILITIES

68,998

29,169

CREDITORS
Amounts falling due after more than one
year

7

(68,465

)

(24,676

)

PROVISIONS FOR LIABILITIES (489 ) -
NET ASSETS 44 4,493

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings (56 ) 4,393
SHAREHOLDERS' FUNDS 44 4,493

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

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

Albino Builders Limited (Registered number: 07858299)

Balance Sheet - continued
31 March 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 June 2024 and were signed on its behalf by:





A Guidi - Director


Albino Builders Limited (Registered number: 07858299)

Notes to the Financial Statements
for the year ended 31 March 2024

1. 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.

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.
Freehold property - 10% on cost
Plant and machinery - 10% on cost
Motor vehicles - 20% on cost

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

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.

Albino Builders Limited (Registered number: 07858299)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

1. ACCOUNTING POLICIES - continued

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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

3. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 100,000
AMORTISATION
At 1 April 2023
and 31 March 2024 100,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 April 2023 25,069 35,216 25,088 85,373
Additions - - 6,799 6,799
At 31 March 2024 25,069 35,216 31,887 92,172
DEPRECIATION
At 1 April 2023 15,042 26,715 25,088 66,845
Charge for year 2,506 2,423 659 5,588
At 31 March 2024 17,548 29,138 25,747 72,433
NET BOOK VALUE
At 31 March 2024 7,521 6,078 6,140 19,739
At 31 March 2023 10,027 8,501 - 18,528

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 45,711 35,170
Amounts owed by associates 71,840 78,151
Other debtors 2,281 1,938
119,832 115,259

Albino Builders Limited (Registered number: 07858299)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 37,315 10,648
Trade creditors 44,595 32,022
Taxation and social security 49,949 109,084
Other creditors 12,274 7,087
144,133 158,841

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 68,465 24,676

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 105,780 35,324

Bank loans are secured by a fixed and floating charge covering all the property or undertakings of the company dated 21 January 2015.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
20 Ordinary A £1 20 20
40 Ordinary B £1 40 40
40 Ordinary C £1 40 40
100 100