Company No:
Contents
Note | 2024 | 2023 | ||
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Fixed assets | ||||
Intangible assets | 3 |
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Tangible assets | 4 |
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102,190 | 44,030 | |||
Current assets | ||||
Debtors | 5 |
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Cash at bank and in hand |
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736,849 | 596,271 | |||
Creditors: amounts falling due within one year | 6 | (
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Net current assets | 98,762 | 100,894 | ||
Total assets less current liabilities | 200,952 | 144,924 | ||
Creditors: amounts falling due after more than one year | 7 | (
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Provision for liabilities | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital | 8 |
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Profit and loss account |
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Total shareholders' funds |
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Director's responsibilities:
The financial statements of Architrail Velosolutions UK Limited (registered number:
P A Saxena
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Architrail Velosolutions UK Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 2 Brewery Court North Street, Bedminster, Bristol, BS3 1JS, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
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.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.
Goodwill |
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Plant and machinery |
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Vehicles |
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Office equipment |
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Computer equipment |
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Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including the director |
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Goodwill | Total | ||
£ | £ | ||
Cost | |||
At 01 March 2023 |
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At 29 February 2024 |
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Accumulated amortisation | |||
At 01 March 2023 |
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Charge for the financial year |
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At 29 February 2024 |
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Net book value | |||
At 29 February 2024 |
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At 28 February 2023 |
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Plant and machinery | Vehicles | Office equipment | Computer equipment | Total | |||||
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Cost | |||||||||
At 01 March 2023 |
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Additions |
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Disposals |
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At 29 February 2024 |
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Accumulated depreciation | |||||||||
At 01 March 2023 |
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Charge for the financial year |
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Disposals |
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At 29 February 2024 |
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Net book value | |||||||||
At 29 February 2024 |
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At 28 February 2023 |
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Leased assets included above: | |||||||||
Net book value | |||||||||
At 29 February 2024 | 59,095 | 0 | 0 | 0 | 59,095 | ||||
At 28 February 2023 | 0 | 0 | 0 | 0 | 0 |
2024 | 2023 | ||
£ | £ | ||
Trade debtors |
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Amounts owed by director |
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Prepayments and accrued income |
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Other debtors |
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2024 | 2023 | ||
£ | £ | ||
Bank loans |
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Trade creditors |
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Accruals and deferred income |
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Corporation tax |
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Other taxation and social security |
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Obligations under finance leases and hire purchase contracts (secured) |
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Other creditors |
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2024 | 2023 | ||
£ | £ | ||
Bank loans |
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Obligations under finance leases and hire purchase contracts |
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Other creditors |
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2024 | 2023 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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100 | 100 |
Other financial commitments
As at 28 February 2024 the company had future minimum lease payments under non-cancellable operating leases of £87,500 (2023 — £14,000).
Transactions with the entity's director
2024 | 2023 | ||
£ | £ | ||
Advances to directors | 114,403 | 84,041 |
Advances
Other related party transactions
At the year end the company was owed £114,121 (2023 - £109,812) by companies connected by virtue of common control.