Ackroyd Art Transport Limited 06182541 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is that of transporting art and antiquities. Digita Accounts Production Advanced 6.30.9574.0 true true 06182541 2022-04-01 2023-03-31 06182541 2023-03-31 06182541 core:RetainedEarningsAccumulatedLosses 2023-03-31 06182541 core:ShareCapital 2023-03-31 06182541 core:CurrentFinancialInstruments 2023-03-31 06182541 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 06182541 core:Goodwill 2023-03-31 06182541 core:FurnitureFittingsToolsEquipment 2023-03-31 06182541 core:MotorVehicles 2023-03-31 06182541 bus:SmallEntities 2022-04-01 2023-03-31 06182541 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 06182541 bus:FilletedAccounts 2022-04-01 2023-03-31 06182541 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 06182541 bus:RegisteredOffice 2022-04-01 2023-03-31 06182541 bus:Director2 2022-04-01 2023-03-31 06182541 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 06182541 core:Goodwill 2022-04-01 2023-03-31 06182541 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 06182541 core:MotorVehicles 2022-04-01 2023-03-31 06182541 countries:EnglandWales 2022-04-01 2023-03-31 06182541 2022-03-31 06182541 core:Goodwill 2022-03-31 06182541 core:FurnitureFittingsToolsEquipment 2022-03-31 06182541 core:MotorVehicles 2022-03-31 06182541 2021-04-01 2022-03-31 06182541 2022-03-31 06182541 core:RetainedEarningsAccumulatedLosses 2022-03-31 06182541 core:ShareCapital 2022-03-31 06182541 core:CurrentFinancialInstruments 2022-03-31 06182541 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 06182541 core:FurnitureFittingsToolsEquipment 2022-03-31 06182541 core:MotorVehicles 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 06182541

Ackroyd Art Transport Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

Ackroyd Art Transport Limited

(Registration number: 06182541)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

1,196

1,577

Current assets

 

Debtors

6

7,190

7,022

Cash at bank and in hand

 

-

2,192

 

7,190

9,214

Creditors: Amounts falling due within one year

7

(3,816)

(2,454)

Net current assets

 

3,374

6,760

Total assets less current liabilities

 

4,570

8,337

Provisions for liabilities

(299)

(394)

Net assets

 

4,271

7,943

Capital and reserves

 

Called up share capital

2

2

Retained earnings

4,269

7,941

Shareholders' funds

 

4,271

7,943

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 15 November 2024
 

.........................................
Mr NG Holdom
Director

 

Ackroyd Art Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
27 The Mount
Worcester Park
Surrey
KT4 8UD

These financial statements were authorised for issue by the director on 15 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Ackroyd Art Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance

Fixtures and fittings

25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Ackroyd Art Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Ackroyd Art Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2022

100,000

100,000

At 31 March 2023

100,000

100,000

Amortisation

At 1 April 2022

100,000

100,000

At 31 March 2023

100,000

100,000

Carrying amount

At 31 March 2023

-

-

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2022

1,576

13,875

15,451

At 31 March 2023

1,576

13,875

15,451

Depreciation

At 1 April 2022

1,445

12,429

13,874

Charge for the year

20

361

381

At 31 March 2023

1,465

12,790

14,255

Carrying amount

At 31 March 2023

111

1,085

1,196

At 31 March 2022

131

1,446

1,577

6

Debtors

Current

2023
£

2022
£

Trade debtors

6,835

6,265

Other debtors

355

757

 

7,190

7,022

 

Ackroyd Art Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

2,696

679

Taxation and social security

 

-

355

Accruals and deferred income

 

1,020

1,320

Other creditors

 

100

100

 

3,816

2,454

8

Loans and borrowings

Current loans and borrowings

2023
£

2022
£

Bank overdrafts

1,781

-

Other borrowings

915

679

2,696

679