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REGISTERED NUMBER: 13426633 (England and Wales)















ALES & ANTIQUES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024






ALES & ANTIQUES LTD (REGISTERED NUMBER: 13426633)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ALES & ANTIQUES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: Mrs J M Foggin
A Foggin





REGISTERED OFFICE: 424 Margate Road
Ramsgate
Kent
CT12 6SJ





REGISTERED NUMBER: 13426633 (England and Wales)





ACCOUNTANTS: Spurling Cannon
Chartered Certified Accountants
424 Margate Road
Westwood
Ramsgate
Kent
CT12 6SJ

ALES & ANTIQUES LTD (REGISTERED NUMBER: 13426633)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 29,749 34,580

CURRENT ASSETS
Stocks 5 3,726 2,891
Debtors 6 440 876
Cash at bank and in hand 26,278 36,701
30,444 40,468
CREDITORS
Amounts falling due within one year 7 (83,293 ) (101,970 )
NET CURRENT LIABILITIES (52,849 ) (61,502 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(23,100

)

(26,922

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (23,200 ) (27,022 )
(23,100 ) (26,922 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

ALES & ANTIQUES LTD (REGISTERED NUMBER: 13426633)

BALANCE SHEET - continued
31 MAY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 August 2024 and were signed on its behalf by:




Mrs J M Foggin - Director



A Foggin - Director


ALES & ANTIQUES LTD (REGISTERED NUMBER: 13426633)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Ales & Antiques Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 6 ) .

ALES & ANTIQUES LTD (REGISTERED NUMBER: 13426633)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

4. TANGIBLE FIXED ASSETS
Improvements
to Fixture & Computer
property Fittings equipment Totals
£    £    £    £   
COST
At 1 June 2023
and 31 May 2024 38,245 5,843 998 45,086
DEPRECIATION
At 1 June 2023 7,691 2,565 250 10,506
Charge for year 3,824 820 187 4,831
At 31 May 2024 11,515 3,385 437 15,337
NET BOOK VALUE
At 31 May 2024 26,730 2,458 561 29,749
At 31 May 2023 30,554 3,278 748 34,580

5. STOCKS
2024 2023
£    £   
Stocks 3,726 2,891

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Sundry debtors - 374
Prepayments 440 502
440 876

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 7,042 6,152
Corporation Tax 31 28
Social security and other taxes 232 297
VAT 2,955 3,528
Sundry creditors 9,147 8,272
Directors' current accounts 61,451 81,157
Accrued expenses 2,435 2,536
83,293 101,970

8. GOING CONCERN

These accounts have been prepared on a going concern basis, on the understanding that the directors and shareholders will continue to financially support the company.