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COMPANY REGISTRATION NUMBER: 02451113
Anglia Sprayers Limited
Unaudited financial statements
31 December 2024
Anglia Sprayers Limited
Statement of financial position
31 December 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
51,176
63,670
Current assets
Stocks
1,172,003
1,220,197
Debtors
6
104,151
77,101
Cash at bank and in hand
173
313
-----------
-----------
1,276,327
1,297,611
Creditors: Amounts falling due within one year
7
( 764,913)
( 769,900)
-----------
-----------
Net current assets
511,414
527,711
---------
---------
Total assets less current liabilities
562,590
591,381
Creditors: Amounts falling due after more than one year
8
( 9,233)
Provisions
Taxation including deferred tax
( 10,963)
( 14,118)
---------
---------
Net assets
551,627
568,030
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
551,527
567,930
---------
---------
Shareholders funds
551,627
568,030
---------
---------
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 31 December 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Anglia Sprayers Limited
Statement of financial position (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 10 March 2025 , and are signed on behalf of the board by:
G E Miles
Director
Company registration number: 02451113
Anglia Sprayers Limited
Notes to the financial statements
Year ended 31 December 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 First Floor Suite, 2 Hillside Business Park Bury St Edmunds, Suffolk, IP32 7EA. The trading address of the company is Unit 60 Lancaster Way, Lancaster Way Business Park, Ely, Cambridgeshire, CB6 3NW.
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.
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.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
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:
Property improvement
-
6% straight line
Plant and machinery
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
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.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
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 employees during the year was 9 (2023: 9 ).
5. Tangible assets
Property improvement
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 January 2024
33,198
137,515
62,689
16,198
249,600
Additions
194
2,155
2,349
-------
---------
-------
-------
---------
At 31 December 2024
33,198
137,709
62,689
18,353
251,949
-------
---------
-------
-------
---------
Depreciation
At 1 January 2024
26,692
121,199
25,086
12,953
185,930
Charge for the year
434
4,103
9,401
905
14,843
-------
---------
-------
-------
---------
At 31 December 2024
27,126
125,302
34,487
13,858
200,773
-------
---------
-------
-------
---------
Carrying amount
At 31 December 2024
6,072
12,407
28,202
4,495
51,176
-------
---------
-------
-------
---------
At 31 December 2023
6,506
16,316
37,603
3,245
63,670
-------
---------
-------
-------
---------
6. Debtors
2024
2023
£
£
Trade debtors
83,799
58,249
Other debtors
20,352
18,852
---------
-------
104,151
77,101
---------
-------
7. Creditors: Amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
222,574
204,655
Trade creditors
61,772
56,323
Social security and other taxes
13,824
42,295
Amounts owed to associated company
429,495
423,746
Other creditors
37,248
42,881
---------
---------
764,913
769,900
---------
---------
The following liabilities disclosed under creditors falling due within one year are secured by the company: Bank overdraft - £222,574 (2023 - £204,655) Hire purchase agreements - £9,232 (2023 - £12,121)
8. Creditors: Amounts falling due after more than one year
2024
2023
£
£
Other creditors
9,233
----
------
The following liabilities disclosed under creditors falling due after one year are secured by the company: Hire purchase agreements - £Nil (2023 - £9,233)
9. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
40,345
40,345
Later than 1 year and not later than 5 years
60,518
100,863
---------
---------
100,863
141,208
---------
---------