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Registered Number: 10007868
England and Wales

 

 

 

ACCUFINE LTD


Abridged Accounts
 


Period of accounts

Start date: 01 March 2023

End date: 29 February 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 24,170    25,785 
Tangible fixed assets 4 991,564    687,144 
Investments 5 29,184    36,652 
1,044,918    749,581 
Current assets      
Debtors: amounts falling due within one year 55,561    22,757 
Investments   4,476 
Cash at bank and in hand 17,809    88,132 
73,370    115,365 
Creditors: amount falling due within one year (618,078)   (399,219)
Net current assets (544,708)   (283,854)
 
Total assets less current liabilities 500,210    465,727 
Creditors: amount falling due after more than one year (251,620)   (263,148)
Accruals and deferred income (22,000)   (22,000)
Net assets 226,590    180,579 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 226,490    180,479 
Shareholders' funds 226,590    180,579 
 


For the year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These 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 income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 27 November 2024 and were signed on its behalf by:


-------------------------------
Waqas Rasheed
Director
1
General Information
ACCUFINE LTD is a private company, limited by shares, registered in England and Wales, registration number 10007868, registration address 6a, Highstreet, Hucknall, Nottinghamshire, NG15 7HD .

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Current asset investments
Current asset investments are stated at the lower of cost and net realisable value.
2.

Average number of employees

Average number of employees during the year was 6 (2023 : 6).
3.

Intangible fixed assets

Cost Goodwill   Other   Total
  £   £   £
At 01 March 2023 28,650      28,650 
Additions   1,250    1,250 
Disposals    
At 29 February 2024 28,650    1,250    29,900 
Amortisation
At 01 March 2023 2,865      2,865 
Charge for year 2,865      2,865 
On disposals    
At 29 February 2024 5,730      5,730 
Net book values
At 29 February 2024 22,920    1,250    24,170 
At 28 February 2023 25,785      25,785 


4.

Tangible fixed assets

Cost or valuation Land and Buildings   Motor Vehicles   Fixtures and Fittings   Total
  £   £   £   £
At 01 March 2023 661,332    2,500    23,312    687,144 
Additions 327,029    1,667      328,696 
Disposals      
At 29 February 2024 988,361    4,167    23,312    1,015,840 
Depreciation
At 01 March 2023      
Charge for year 2,294    1,425    20,557    24,276 
On disposals      
At 29 February 2024 2,294    1,425    20,557    24,276 
Net book values
Closing balance as at 29 February 2024 986,067    2,742    2,755    991,564 
Opening balance as at 01 March 2023 661,332    2,500    23,312    687,144 


5.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 March 2023  
Additions  
Transfer to/from tangible fixed assets  
Disposals  
At 29 February 2024  

2