Company Registration No. 10031573 (England and Wales)
A & S Developments (West Mids) Limited
Unaudited Financial Statements
for the year ended 29 February 2024
A & S Developments (West Mids) Limited
Unaudited Financial Statements
Contents
A & S Developments (West Mids) Limited
Company Information
for the year ended 29 February 2024
Company Number
10031573 (England and Wales)
Registered Office
Unit 1
Langley Mill Farm
Lindridge Road
Sutton Coldfield
West Midlands
B75 7HR
England
A & S Developments (West Mids) Limited
Statement of financial position
as at 29 February 2024
Tangible assets
53,154
24,705
Cash at bank and in hand
11,592
4,151
Creditors: amounts falling due within one year
(80,531)
(61,403)
Net current assets
36,040
32,467
Total assets less current liabilities
89,194
57,172
Creditors: amounts falling due after more than one year
(38,183)
(34,722)
Provisions for liabilities
Deferred tax
(10,099)
(4,694)
Called up share capital
200
200
Profit and loss account
40,712
17,556
Shareholders' funds
40,912
17,756
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 28 November 2024 and were signed on its behalf by
Mr A P Bartlett
Director
Company Registration No. 10031573
A & S Developments (West Mids) Limited
Notes to the Accounts
for the year ended 29 February 2024
A & S Developments (West Mids) Limited is a private company, limited by shares, registered in England and Wales, registration number 10031573. The registered office is Unit 1, Langley Mill Farm, Lindridge Road, Sutton Coldfield, West Midlands, B75 7HR, England.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention.
The accounts are presented in £ sterling.
Turnover represents amounts (excluding value added tax) derived from the provision of goods and services to customers during the year.
Revenue from the provision of services under a construction contract is recognised on the percentage of completion method, where the following conditions have been satisfied:-
i) the amount of revenue can be measured reliably
ii) it is probable that the economic benefit associated with the contract will flow to the company
iii) the stage of completion of the contract can be measured reliably
iv) the costs incurred on the contract and costs to completion can be measured reliably
Where the outcome of a contract cannot be estimated reliably, revenue is only recognised to the extent of the expenses incurred are recoverable.
Amounts recoverable on contracts are included within debtors at the year end.
Intangible fixed assets consist wholly of purchased goodwill, which is stated at cost less accumulated amortisation. Goodwill is being amortised over its estimated useful life of 5 years.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation and accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life as follows:-
Plant & machinery
20% Straight Line or 20% Reducing Balance
Motor vehicles
25% Reducing Balance
Computer equipment
20% Straight Line
A & S Developments (West Mids) Limited
Notes to the Accounts
for the year ended 29 February 2024
Where the company enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease. Such assets are capitalised, depreciated and assessed for impairment losses in the same
manner as owned tangible fixed assets. The related obligations, net of future finance charges, are included in creditors.
Lease payments are apportioned between the finance charges and a reduction in the lease obligation using the effective interest method so as to achieve a constant rate of interest on the remaining balance of the liability. Finance charges are deducted in measuring profit or loss.
All other leases are classified as operating leases, with rentals charged to the profit and loss account on a straight line basis over the lease term.
Deferred tax is provided in full in respect of timing differences between the treatment of certain items for taxation purposes and their treatment for accounting purposes.
Deferred tax assets and liabilities are not discounted.
Financial assets and liabilities
Short term debtors are measured at transaction price, less any impairment for bad or doubtful debts.
Short term trade creditors are measured at transaction price.
Other financial liabilities are measured initially at fair value, net of transaction costs, and subsequently measured at amortised cost using the effective interest method. Financial liabilities classified as payable within one year are not amortised.
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Intangible fixed assets
Goodwill
At 29 February 2024
20,000
At 29 February 2024
20,000
A & S Developments (West Mids) Limited
Notes to the Accounts
for the year ended 29 February 2024
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 March 2023
36,116
31,720
3,046
70,882
Additions
5,344
37,473
899
43,716
At 29 February 2024
41,460
69,193
3,945
114,598
At 1 March 2023
18,638
26,238
1,301
46,177
Charge for the year
3,835
10,696
736
15,267
At 29 February 2024
22,473
36,934
2,037
61,444
At 29 February 2024
18,987
32,259
1,908
53,154
At 28 February 2023
17,478
5,482
1,745
24,705
Carrying values included above held under finance leases and hire purchase contracts:
£
£
Amounts falling due within one year
Accrued income and prepayments
47,555
26,067
Other debtors
55,624
56,076
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Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
7,292
7,150
Obligations under finance leases and hire purchase contracts
7,833
-
Trade creditors
3,228
7,435
Taxes and social security
39,103
24,537
Other creditors
12,884
11,108
8
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
9,017
-
A & S Developments (West Mids) Limited
Notes to the Accounts
for the year ended 29 February 2024
9
Deferred taxation
2024
2023
Accelerated capital allowances
10,099
4,694
Provision at start of year
4,694
3,838
Charged to the profit and loss account
5,405
856
Provision at end of year
10,099
4,694
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Director's loan
3,543
33,554
-
37,097
The director's loan was interest free with no specific conditions. The loan was repaid in full on 25 November 2024.
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Average number of employees
During the year the average number of employees was 4 (2023: 4).