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REGISTERED NUMBER: 04679188 (England and Wales)












ALLMODCONS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

27 FEBRUARY 2024






ALLMODCONS LTD (REGISTERED NUMBER: 04679188)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 27 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ALLMODCONS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 27 FEBRUARY 2024







DIRECTOR: R Clark



SECRETARY: Mrs A M Clark



REGISTERED OFFICE: C/O Bevan Buckland LLP
Ground Floor
Cardigan House
Swansea
SA7 9LA



REGISTERED NUMBER: 04679188 (England and Wales)



ACCOUNTANTS: Bevan Buckland LLP
Ground Floor Cardigan House
Castle Court
Swansea Enterprise Park
Swansea
SA7 9LA



BANKERS: H S B C
3 Windsor Road
Neath
SA11 1LN

ALLMODCONS LTD (REGISTERED NUMBER: 04679188)

BALANCE SHEET
27 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 71,676 84,550

CURRENT ASSETS
Stocks 16,200 22,000
Debtors 5 4,920 13,308
Cash at bank and in hand 1,109 2,330
22,229 37,638
CREDITORS
Amounts falling due within one year 6 101,605 108,487
NET CURRENT LIABILITIES (79,376 ) (70,849 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(7,700

)

13,701

CREDITORS
Amounts falling due after more than one year 7 131,277 135,699
NET LIABILITIES (138,977 ) (121,998 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (139,077 ) (122,098 )
SHAREHOLDERS' FUNDS (138,977 ) (121,998 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 27 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 27 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 November 2024 and were signed by:





R Clark - Director


ALLMODCONS LTD (REGISTERED NUMBER: 04679188)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 27 FEBRUARY 2024

1. STATUTORY INFORMATION

Allmodcons Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 15% reducing balance
Plant and Machinery - 15% reducing balance
Fixtures and fittings - 15% reducing balance
Motor vehicles - 25% reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

ALLMODCONS LTD (REGISTERED NUMBER: 04679188)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 27 FEBRUARY 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Trade debtors, loans and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as 'loans and receivables'. Loans and receivables are measured at amortised cost using the effective interest method, less any impairment.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Classification of financial liabilities
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.

Basic financial liabilities
Basic financial liabilities, including trade and other payables, bank loans, loans from related companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables 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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

3. EMPLOYEES AND DIRECTORS

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

ALLMODCONS LTD (REGISTERED NUMBER: 04679188)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 27 FEBRUARY 2024

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property Machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 28 February 2023 6,000 141,912 932 23,500 172,344
Additions - - - 1,670 1,670
At 27 February 2024 6,000 141,912 932 25,170 174,014
DEPRECIATION
At 28 February 2023 3,870 80,861 713 2,350 87,794
Charge for year 320 9,157 33 5,034 14,544
At 27 February 2024 4,190 90,018 746 7,384 102,338
NET BOOK VALUE
At 27 February 2024 1,810 51,894 186 17,786 71,676
At 27 February 2023 2,130 61,051 219 21,150 84,550

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,920 13,308

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 2,322 5,040
VAT 320 983
Other creditors 93,199 97,097
Accrued expenses 5,764 5,367
101,605 108,487

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts - 2,322
Related Party-Lamb Sheep &
Cows Limited 131,277 133,377
131,277 135,699

8. RELATED PARTY DISCLOSURES

Included within the non-current liabilities of the balance sheet is an amount of £131,277 (2023: £133,377) owed to Lamb's Sheep And Cows Limited. This company shares the same directorship and shareholding as that of Allmodcons Limited. The terms of the loan are deemed to be interest free and not due within the following twelve months.