A C Commercials Limited 03301889 false 2023-01-31 2024-01-30 2024-01-30 The principal activity of the company is motor repairs Digita Accounts Production Advanced 6.30.9574.0 true 03301889 2023-01-31 2024-01-30 03301889 2024-01-30 03301889 core:CurrentFinancialInstruments 2024-01-30 03301889 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-30 03301889 core:FurnitureFittingsToolsEquipment 2024-01-30 03301889 core:MotorVehicles 2024-01-30 03301889 bus:SmallEntities 2023-01-31 2024-01-30 03301889 bus:AuditExemptWithAccountantsReport 2023-01-31 2024-01-30 03301889 bus:FilletedAccounts 2023-01-31 2024-01-30 03301889 bus:SmallCompaniesRegimeForAccounts 2023-01-31 2024-01-30 03301889 bus:RegisteredOffice 2023-01-31 2024-01-30 03301889 bus:Director2 2023-01-31 2024-01-30 03301889 bus:PrivateLimitedCompanyLtd 2023-01-31 2024-01-30 03301889 core:FurnitureFittings 2023-01-31 2024-01-30 03301889 core:FurnitureFittingsToolsEquipment 2023-01-31 2024-01-30 03301889 core:MotorVehicles 2023-01-31 2024-01-30 03301889 core:PlantMachinery 2023-01-31 2024-01-30 03301889 countries:EnglandWales 2023-01-31 2024-01-30 03301889 2023-01-30 03301889 core:FurnitureFittingsToolsEquipment 2023-01-30 03301889 core:MotorVehicles 2023-01-30 03301889 2022-02-01 2023-01-30 03301889 2023-01-30 03301889 core:CurrentFinancialInstruments 2023-01-30 03301889 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-30 03301889 core:FurnitureFittingsToolsEquipment 2023-01-30 03301889 core:MotorVehicles 2023-01-30 iso4217:GBP xbrli:pure

Registration number: 03301889

A C Commercials Limited

Unaudited Financial Statements

for the Year Ended 30 January 2024

 

A C Commercials Limited

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 5

 

A C Commercials Limited

(Registration number: 03301889)
Statement of Financial Position as at 30 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

14,344

7,447

Current assets

 

Stocks

5

125

675

Debtors

6

76,276

80,400

Cash at bank and in hand

 

281,870

168,803

 

358,271

249,878

Creditors: Amounts falling due within one year

7

(113,117)

(113,282)

Net current assets

 

245,154

136,596

Net assets

 

259,498

144,043

Capital and reserves

 

Called up share capital

100

100

Retained earnings

259,398

143,943

Shareholders' funds

 

259,498

144,043

For the financial year ending 30 January 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 30 January 2025
 

.........................................
Mr A Williams
Director

   
     
 

A C Commercials Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
6 Abbey Street
The Priory Industrial Estate
Birkenhead
Merseyside
CH41 5JU
United Kingdom

These financial statements were authorised for issue by the director on 30 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A
- 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

A C Commercials Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 January 2024

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Fixtures and fittings

25% reducing balance

Motor vehicles

15% reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the income statement.
 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2023 - 4).

 

A C Commercials Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 January 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 31 January 2023

17,896

8,100

25,996

Additions

11,481

-

11,481

At 30 January 2024

29,377

8,100

37,477

Depreciation

At 31 January 2023

11,929

6,621

18,550

Charge for the year

4,361

222

4,583

At 30 January 2024

16,290

6,843

23,133

Carrying amount

At 30 January 2024

13,087

1,257

14,344

At 30 January 2023

5,968

1,479

7,447

5

Stocks

2024
£

2023
£

Other inventories

125

675

6

Debtors

Current

2024
£

2023
£

Trade debtors

76,276

80,400

 

76,276

80,400

 

A C Commercials Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 January 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

19,909

17,858

Taxation and social security

53,191

57,137

Accruals and deferred income

3,175

2,652

Other creditors

36,842

35,635

113,117

113,282