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No description of principal activity
2023-03-01
Sage Accounts Production Advanced 2024 - FRS102_2024
8,580
5,148
1,716
6,864
1,716
3,432
xbrli:pure
xbrli:shares
iso4217:GBP
10008944
2023-03-01
2024-02-29
10008944
2024-02-29
10008944
2023-02-28
10008944
2022-03-01
2023-02-28
10008944
2023-02-28
10008944
2022-02-28
10008944
core:MotorVehicles
2023-03-01
2024-02-29
10008944
bus:LeadAgentIfApplicable
2023-03-01
2024-02-29
10008944
bus:Director1
2023-03-01
2024-02-29
10008944
core:MotorVehicles
2023-02-28
10008944
core:MotorVehicles
2024-02-29
10008944
core:AfterOneYear
2024-02-29
10008944
core:AfterOneYear
2023-02-28
10008944
core:WithinOneYear
2024-02-29
10008944
core:WithinOneYear
2023-02-28
10008944
core:ShareCapital
2024-02-29
10008944
core:ShareCapital
2023-02-28
10008944
core:RetainedEarningsAccumulatedLosses
2024-02-29
10008944
core:RetainedEarningsAccumulatedLosses
2023-02-28
10008944
core:MotorVehicles
2023-02-28
10008944
bus:SmallEntities
2023-03-01
2024-02-29
10008944
bus:AuditExemptWithAccountantsReport
2023-03-01
2024-02-29
10008944
bus:SmallCompaniesRegimeForAccounts
2023-03-01
2024-02-29
10008944
bus:PrivateLimitedCompanyLtd
2023-03-01
2024-02-29
10008944
bus:FullAccounts
2023-03-01
2024-02-29
COMPANY REGISTRATION NUMBER:
10008944
Filleted Unaudited Financial Statements |
|
Year ended 29 February 2024
Chartered certified accountants report to the director on the preparation of the unaudited statutory financial statements |
1 |
|
|
Statement of financial position |
2 |
|
|
Notes to the financial statements |
4 |
|
|
Chartered Certified Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of
A1 EMBROIDERY LIMITED |
|
Year ended 29 February 2024
As described on the statement of financial position, the director of the company is responsible for the preparation of the financial statements for the year ended 29 February 2024, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
VAGHELA & CO. (SERVICES) LTD.
Chartered Certified Accountants
P.O. Box 10901
Birmingham
B1 1ZQ
20 February 2025
Statement of Financial Position |
|
29 February 2024
Fixed assets
Tangible assets |
5 |
|
1,716 |
3,432 |
|
|
|
|
|
Current assets
Stocks |
3,960 |
|
4,595 |
Debtors |
6 |
15,187 |
|
23,988 |
Cash at bank and in hand |
184 |
|
590 |
|
-------- |
|
-------- |
|
19,331 |
|
29,173 |
|
|
|
|
|
Creditors: amounts falling due within one year |
7 |
12,676 |
|
13,371 |
|
-------- |
|
-------- |
Net current assets |
|
6,655 |
15,802 |
|
|
------- |
-------- |
Total assets less current liabilities |
|
8,371 |
19,234 |
|
|
|
|
|
Creditors: amounts falling due after more than one year |
8 |
|
22,574 |
32,500 |
|
|
-------- |
-------- |
Net liabilities |
|
(
14,203) |
(
13,266) |
|
|
-------- |
-------- |
|
|
|
|
|
Capital and reserves
Called up share capital |
|
100 |
100 |
Profit and loss account |
|
(
14,303) |
(
13,366) |
|
|
-------- |
-------- |
Shareholders deficit |
|
(
14,203) |
(
13,266) |
|
|
-------- |
-------- |
|
|
|
|
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 29 February 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 her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Statement of Financial Position (continued) |
|
29 February 2024
These financial statements were approved by the
board of directors
and authorised for issue on
20 February 2025
, and are signed on behalf of the board by:
Company registration number:
10008944
Notes to the Financial Statements |
|
Year ended 29 February 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 C/o Vaghela & Co., Studio 10, Clark's Courtyard, 145 Granville Street, Birmingham, B1 1SB, England.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
|
Motor vehicles |
- |
20% straight line |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Defined contribution plans
Contributions to defined contribution 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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
3
(2023:
3
).
5.
Tangible assets
|
Motor vehicles |
|
£ |
Cost |
|
At 1 March 2023 and 29 February 2024 |
8,580 |
|
------- |
Depreciation |
|
At 1 March 2023 |
5,148 |
Charge for the year |
1,716 |
|
------- |
At 29 February 2024 |
6,864 |
|
------- |
Carrying amount |
|
At 29 February 2024 |
1,716 |
|
------- |
At 28 February 2023 |
3,432 |
|
------- |
|
|
6.
Debtors
|
2024 |
2023 |
|
£ |
£ |
Other debtors |
15,187 |
23,988 |
|
-------- |
-------- |
|
|
|
7.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Trade creditors |
2,962 |
3,216 |
Social security and other taxes |
4,376 |
7,687 |
Other creditors |
5,338 |
2,468 |
|
-------- |
-------- |
|
12,676 |
13,371 |
|
-------- |
-------- |
|
|
|
8.
Creditors:
amounts falling due after more than one year
|
2024 |
2023 |
|
£ |
£ |
Bank loans and overdrafts |
22,574 |
32,500 |
|
-------- |
-------- |
|
|
|
9.
Director's advances, credits and guarantees
At 29th February 2024, Other debtors include the following amounts due to the company:-
Ms B Kaur
£5,045 (2023 - £6,270) The loans are interest free and repayable on demand
10.
Related party transactions
No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 102.