AT Commercial Interiors Ltd 08091985 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is Commercial refitting and installation of washrooms Digita Accounts Production Advanced 6.30.9574.0 true 08091985 2023-07-01 2024-06-30 08091985 2024-06-30 08091985 bus:OrdinaryShareClass1 2024-06-30 08091985 core:RetainedEarningsAccumulatedLosses 2024-06-30 08091985 core:ShareCapital 2024-06-30 08091985 core:CurrentFinancialInstruments 2024-06-30 08091985 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 08091985 core:Non-currentFinancialInstruments core:AfterOneYear 2024-06-30 08091985 core:FurnitureFittingsToolsEquipment 2024-06-30 08091985 core:MotorVehicles 2024-06-30 08091985 bus:SmallEntities 2023-07-01 2024-06-30 08091985 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 08091985 bus:FilletedAccounts 2023-07-01 2024-06-30 08091985 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 08091985 bus:RegisteredOffice 2023-07-01 2024-06-30 08091985 bus:Director1 2023-07-01 2024-06-30 08091985 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 08091985 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 08091985 core:FurnitureFittings 2023-07-01 2024-06-30 08091985 core:FurnitureFittingsToolsEquipment 2023-07-01 2024-06-30 08091985 core:MotorVehicles 2023-07-01 2024-06-30 08091985 countries:EnglandWales 2023-07-01 2024-06-30 08091985 2023-06-30 08091985 core:FurnitureFittingsToolsEquipment 2023-06-30 08091985 core:MotorVehicles 2023-06-30 08091985 2022-07-01 2023-06-30 08091985 2023-06-30 08091985 bus:OrdinaryShareClass1 2023-06-30 08091985 core:RetainedEarningsAccumulatedLosses 2023-06-30 08091985 core:ShareCapital 2023-06-30 08091985 core:CurrentFinancialInstruments 2023-06-30 08091985 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 08091985 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 08091985 core:FurnitureFittingsToolsEquipment 2023-06-30 08091985 core:MotorVehicles 2023-06-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 08091985

AT Commercial Interiors Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

AT Commercial Interiors Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

AT Commercial Interiors Ltd

(Registration number: 08091985)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

57,131

18,938

Current assets

 

Stocks

6

1,263

1,264

Debtors

7

442,809

509,476

Cash at bank and in hand

 

10

10

 

444,082

510,750

Creditors: Amounts falling due within one year

8

(352,186)

(433,392)

Net current assets

 

91,896

77,358

Total assets less current liabilities

 

149,027

96,296

Creditors: Amounts falling due after more than one year

8

(35,104)

(9,080)

Provisions for liabilities

(14,283)

(4,735)

Net assets

 

99,640

82,481

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

99,540

82,381

Shareholders' funds

 

99,640

82,481

For the financial 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.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

AT Commercial Interiors Ltd

(Registration number: 08091985)
Balance Sheet as at 30 June 2024

Approved and authorised by the Board on 15 November 2024 and signed on its behalf by:
 

.........................................
Mr N R Softley
Director

 

AT Commercial Interiors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 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 Ferranti Court
Staffordshire Technology Park
Stafford
Staffordshire
ST18 0LQ

The principal place of business is:
Tollgate Court Business Centre
Tollgate Drive
Tollgate Industrial Estate
Stafford
Staffordshire
ST16 3HS

These financial statements were authorised for issue by the Board on 15 November 2024.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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 and deferred 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.

 

AT Commercial Interiors Ltd

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

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet 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

Fixtures and fittings

33% on cost

Motor vehicles

25% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

 

AT Commercial Interiors Ltd

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. The share capital disclosed on the balance sheet is allotted, called up and fully paid.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

 

AT Commercial Interiors Ltd

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 6).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

23,051

8,340

 

AT Commercial Interiors Ltd

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

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2023

36,958

21,675

58,633

Additions

3,925

57,319

61,244

At 30 June 2024

40,883

78,994

119,877

Depreciation

At 1 July 2023

34,276

5,419

39,695

Charge for the year

3,303

19,748

23,051

At 30 June 2024

37,579

25,167

62,746

Carrying amount

At 30 June 2024

3,304

53,827

57,131

At 30 June 2023

2,682

16,256

18,938

6

Stocks

2024
£

2023
£

Raw materials and consumables

1,263

1,264

7

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

361,959

416,197

Amounts owed by related parties

41,600

41,600

Prepayments

 

4,330

-

Other debtors

 

34,920

51,679

   

442,809

509,476

The carrying amount of trade debtors pledged as security for liabilities amounted to £236,494(2023: £343,970)

Trade debtors are subject to a factoring arrangement. Amounts due to the factor are included in other creditors and amount to £141,919 (2023:£76,113).

 

AT Commercial Interiors Ltd

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

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

22,097

9,784

Trade creditors

 

185,966

238,371

Taxation and social security

 

19,039

24,941

Other creditors

 

125,084

160,296

 

352,186

433,392

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       
 

AT Commercial Interiors Ltd

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

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

HP and finance lease liabilities

35,104

9,080

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

6,616

6,379

HP and finance lease liabilities

15,481

3,405

22,097

9,784

Included in creditors are secured debts relating to hire purchase contracts of £50,586(2023: £12,485). The debt is secured on the asset purchased.