Registered number
07297272
Armada Industries and Technologies Ltd
Filleted Accounts
30 June 2024
Armada Industries and Technologies Ltd
Registered number: 07297272
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 14,439 18,216
Current assets
Stocks 12,440 12,440
Debtors 4 28,787 55,346
Cash at bank and in hand 214,760 219,192
255,987 286,978
Creditors: amounts falling due within one year 5 (169,291) (146,488)
Net current assets 86,696 140,490
Total assets less current liabilities 101,135 158,706
Creditors: amounts falling due after more than one year 6 (9,960) (29,916)
Provisions for liabilities (987) (1,592)
Net assets 90,188 127,198
Capital and reserves
Called up share capital 100 100
Profit and loss account 90,088 127,098
Shareholders' funds 90,188 127,198
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J Inkpen
Director
Approved by the board on 16 January 2025
Armada Industries and Technologies Ltd
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% on reducing balance
Fixtures, fittings, tools and equipment 25% on reducing balance
Motor vehicles 25% on reducing balance
Computer equipment 25% on reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 July 2023 32,576 25,863 58,439
Additions 974 - 974
Disposals (1,250) - (1,250)
At 30 June 2024 32,300 25,863 58,163
Depreciation
At 1 July 2023 22,210 18,013 40,223
Charge for the year 2,580 1,962 4,542
On disposals (1,041) - (1,041)
At 30 June 2024 23,749 19,975 43,724
Net book value
At 30 June 2024 8,551 5,888 14,439
At 30 June 2023 10,366 7,850 18,216
4 Debtors 2024 2023
£ £
Trade debtors 27,208 54,669
Other debtors 1,579 677
28,787 55,346
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 9,959 -
Trade creditors 46,046 29,559
Taxation and social security costs 49,917 78,311
Other creditors 63,369 38,618
169,291 146,488
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 9,960 29,916
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
J Inkpen
Director's loan account (22,001) 30,299 (21,000) (12,702)
D Jones
Director's loan account (9,294) 27,994 (21,000) (2,300)
(31,295) 58,293 (42,000) (15,002)
8 Controlling party
Thre Company is ultimately controlled by its directors by virtue of their shareholding.
9 Other information
Armada Industries and Technologies Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 6
Hazel Close
Duffryn Park
Ystrad Mynach
CF82 7UB
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