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Registered number: 04720986
Anglia Door Systems Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
GLX Accounting Limited
Chartered Accountants
69-75 Thorpe Road
Norwich
Norfolk
NR1 1UA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04720986
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 52,078 71,257
52,078 71,257
CURRENT ASSETS
Stocks 5 112,695 111,529
Debtors 6 877,512 838,562
Cash at bank and in hand 1,062 348
991,269 950,439
Creditors: Amounts Falling Due Within One Year 7 (781,655 ) (804,485 )
NET CURRENT ASSETS (LIABILITIES) 209,614 145,954
TOTAL ASSETS LESS CURRENT LIABILITIES 261,692 217,211
Creditors: Amounts Falling Due After More Than One Year 8 (57,070 ) (101,017 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (13,019 ) (3,857 )
NET ASSETS 191,603 112,337
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 191,503 112,237
SHAREHOLDERS' FUNDS 191,603 112,337
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For the year ending 30 April 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Daniel Hutt
Director
29th January 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Anglia Door Systems Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04720986 . The registered office is Unit 12 Roman Way, Thetford, IP24 1XB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 25% reducing balance
Plant & Machinery 25% reducing balance
Fixtures & Fittings 10% straight line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 29 (2023: 15)
29 15
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 May 2023 44,977 94,041 35,989 175,007
Additions 1,460 2,653 - 4,113
As at 30 April 2024 46,437 96,694 35,989 179,120
Depreciation
As at 1 May 2023 2,923 85,463 15,364 103,750
Provided during the period 11,581 7,066 4,645 23,292
As at 30 April 2024 14,504 92,529 20,009 127,042
Net Book Value
As at 30 April 2024 31,933 4,165 15,980 52,078
As at 1 May 2023 42,054 8,578 20,625 71,257
5. Stocks
2024 2023
£ £
Materials 112,695 111,529
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 423,124 414,571
Prepayments and accrued income 74,104 113,455
Other debtors 11,250 11,482
Amounts owed by other participating interests 369,034 299,054
877,512 838,562
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 245,984 336,768
Bank loans and overdrafts 234,425 167,282
Corporation tax 31,687 24,069
Other taxes and social security 42,679 24,647
VAT 68,414 78,328
Net wages 18,521 21,060
Other creditors 88,795 59,392
Accruals and deferred income 51,150 92,672
Directors' loan accounts - 267
781,655 804,485
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 57,070 101,017
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Related Party Transactions
Group Companies
The company has taken advantage of the exemption under FRS 102 Section 33.1A, which permits wholly owned group members to omit the disclosure of transactions with other group companies, provided all entities are wholly owned within the group.
Common Control
Included within debtors is an amount of £283,369 (2023: £263,360) owed by companies deemed related by virtue of common control. These companies are under common control due to common ownership and also due to the control of a family member.
The directors confirm that these transactions were conducted at arm's length and are satisfied that they represent fair value.
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