Registered number
07588581
Arved Colvin Smith Ltd
Unaudited Filleted Accounts and Notes
For the year ended
31 March 2024
Arved Colvin Smith Ltd
Registered number: 07588581
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 5,541 11,555
Current assets
Debtors 4 49,241 40,852
Cash at bank and in hand 47,582 49,025
96,823 89,877
Creditors: amounts falling due within one year 5 (27,075) (32,715)
Net current assets 69,748 57,162
Total assets less current liabilities 75,289 68,717
Creditors: amounts falling due after more than one year 6 (13,452) (14,906)
Net assets 61,837 53,811
Capital and reserves
Called up share capital 1 1
Profit and loss account 61,836 53,810
Shareholder's funds 61,837 53,811
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Arved Colvin-Smith
Director
Approved by the board on 25 November 2024
Arved Colvin Smith Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 years
Fixtures, fittings, tools and equipment over 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 17,632
Additions 225
At 31 March 2024 17,857
Depreciation
At 1 April 2023 6,077
Charge for the year 6,239
At 31 March 2024 12,316
Net book value
At 31 March 2024 5,541
At 31 March 2023 11,555
4 Debtors 2024 2023
£ £
Trade debtors 38,753 40,589
Other debtors 10,488 263
49,241 40,852
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 2,857 2,857
Trade creditors 14,197 15,440
Taxation and social security costs 9,965 14,429
Other creditors 56 (11)
27,075 32,715
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 13,452 14,906
7 Controlling party
The company is 100% owned by sole shareholder and director Mr Arved Colvin-Smith
8 Other information
Arved Colvin Smith Ltd is a private company limited by shares and incorporated in England. Its registered office is:
4 Laurel Park
Harrow
HA3 6AU
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