5 false false false false false false false false false false true false false false false false false No description of principal activity 2023-07-01 Sage Accounts Production Advanced 2023 - FRS102_2023 2,995 725 2,270 xbrli:pure xbrli:shares iso4217:GBP 02937834 2023-07-01 2024-06-30 02937834 2024-06-30 02937834 2023-06-30 02937834 2022-07-01 2023-06-30 02937834 2023-06-30 02937834 2022-06-30 02937834 bus:Director1 2023-07-01 2024-06-30 02937834 core:PlantMachinery 2023-06-30 02937834 core:MotorVehicles 2023-06-30 02937834 core:PlantMachinery 2024-06-30 02937834 core:MotorVehicles 2024-06-30 02937834 core:WithinOneYear 2024-06-30 02937834 core:WithinOneYear 2023-06-30 02937834 core:ShareCapital 2024-06-30 02937834 core:ShareCapital 2023-06-30 02937834 core:RetainedEarningsAccumulatedLosses 2024-06-30 02937834 core:RetainedEarningsAccumulatedLosses 2023-06-30 02937834 core:BetweenOneFiveYears 2023-06-30 02937834 core:DeferredTaxation 2023-07-01 2024-06-30 02937834 core:PlantMachinery 2023-07-01 2024-06-30 02937834 core:MotorVehicles 2023-07-01 2024-06-30 02937834 core:AcceleratedTaxDepreciationDeferredTax 2024-06-30 02937834 core:AcceleratedTaxDepreciationDeferredTax 2023-06-30 02937834 core:PlantMachinery 2023-06-30 02937834 core:MotorVehicles 2023-06-30 02937834 core:DeferredTaxation 2023-06-30 02937834 core:DeferredTaxation 2024-06-30 02937834 bus:SmallEntities 2023-07-01 2024-06-30 02937834 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 02937834 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 02937834 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 02937834 bus:FullAccounts 2023-07-01 2024-06-30
COMPANY REGISTRATION NUMBER: 02937834
A1 Gearboxes Limited
Filleted Unaudited Financial Statements
For the year ended
30 June 2024
A1 Gearboxes Limited
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
15,541
19,587
Current assets
Stocks
10,000
11,000
Debtors
6
65,192
72,523
Cash at bank and in hand
198,667
115,837
---------
---------
273,859
199,360
Creditors: amounts falling due within one year
7
147,344
110,725
---------
---------
Net current assets
126,515
88,635
---------
---------
Total assets less current liabilities
142,056
108,222
Provisions
8
2,270
2,995
---------
---------
Net assets
139,786
105,227
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
139,686
105,127
---------
---------
Shareholders funds
139,786
105,227
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
A1 Gearboxes Limited
Statement of Financial Position (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 23 December 2024 , and are signed on behalf of the board by:
S R Papworth
Director
Company registration number: 02937834
A1 Gearboxes Limited
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is St Neots Road, Eaton Ford, St Neots, Cambridgeshire, PE19 7AD.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover shown in the statement of income and retained earnings is the value of goods and services provided during the year net of value added tax and trade discounts.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted by the reporting date.
Operating leases
Operating lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
20% per annum reducing balance or straight line over period of lease
Motor vehicles
-
25% per annum reducing balance
Stocks
Raw materials and consumables are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Defined contribution pension plans
Contributions to defined contribution pension plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2023: 5 ).
5. Tangible assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost
At 1 July 2023 and 30 June 2024
71,441
14,800
86,241
--------
--------
--------
Depreciation
At 1 July 2023
54,413
12,241
66,654
Charge for the year
3,406
640
4,046
--------
--------
--------
At 30 June 2024
57,819
12,881
70,700
--------
--------
--------
Carrying amount
At 30 June 2024
13,622
1,919
15,541
--------
--------
--------
At 30 June 2023
17,028
2,559
19,587
--------
--------
--------
6. Debtors
2024
2023
£
£
Trade debtors
63,397
58,688
Other debtors
1,795
13,835
--------
--------
65,192
72,523
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
40,064
30,001
Amounts owed to group undertakings and undertakings in which the company has a participating interest
36,382
35,352
Social security and other taxes
42,259
27,512
Other creditors
28,639
17,860
---------
---------
147,344
110,725
---------
---------
8. Provisions
Deferred tax (note 9)
£
At 1 July 2023
2,995
Movement in year
( 725)
-------
At 30 June 2024
2,270
-------
9. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2024
2023
£
£
Included in provisions (note 8)
2,270
2,995
-------
-------
The deferred tax account consists of the tax effect of timing differences in respect of:
2024
2023
£
£
Accelerated capital allowances
2,270
2,995
-------
-------
10. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
1,492
4,551
Later than 1 year and not later than 5 years
15,927
-------
--------
1,492
20,478
-------
--------
11. Controlling party
A1 Gearboxes Limited is a subsidiary of Lanvin Trading Ltd, a company incorporated in England and Wales. The registered office of Lanvin Trading Ltd is Suite 2C, Brosnan House 175, Darkes Lane Potters Bar EN6 1BW.