Registered number
03469108
ARCHITECTURAL METALWORKERS LIMITED
Filleted Accounts
30 June 2024
ARCHITECTURAL METALWORKERS LIMITED
Registered number: 03469108
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 384,158 400,175
Current assets
Stocks & work in progress 11,205 28,435
Debtors 4 290,989 238,140
Cash at bank and in hand 278,945 325,391
581,139 591,966
Creditors: amounts falling due within one year 5 (141,515) (279,148)
Net current assets 439,624 312,818
Total assets less current liabilities 823,782 712,993
Creditors: amounts falling due after more than one year 6 (216,068) (217,956)
Provisions for liabilities (25,491) (28,026)
Net assets 582,223 467,011
Capital and reserves
Called up share capital 50 50
Revaluation reserve 8 155,391 156,832
Profit and loss account 426,782 310,129
Shareholder's funds 582,223 467,011
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
G Craig
Director
Approved by the board on 26 March 2025
ARCHITECTURAL METALWORKERS LIMITED
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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:
Freehold buildings over 50 years
Plant and machinery over 3 years
Fixtures, fittings, tools and equipment over 3 years
Motor vehicles over 4 years
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 7 7
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 July 2023 390,000 129,519 34,604 554,123
At 30 June 2024 390,000 129,519 34,604 554,123
Depreciation
At 1 July 2023 7,800 111,544 34,604 153,948
Charge for the year 7,800 8,217 - 16,017
At 30 June 2024 15,600 119,761 34,604 169,965
Net book value
At 30 June 2024 374,400 9,758 - 384,158
At 30 June 2023 382,200 17,975 - 400,175
Freehold land and buildings: 2024 2023
£ £
Historical cost 293,950 293,950
Cumulative depreciation based on historical cost 11,758 5,879
282,192 288,071
The freehold land and buildings were valued at open market value by Brown Survey and Valuation as at 11th November 2021.This value has been adopted as deemed cost of the assets concerned on transition to FRS102
4 Debtors 2024 2023
£ £
Trade debtors 261,177 160,247
Other debtors 29,812 77,893
290,989 238,140
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 11,315 18,048
Trade creditors 17,447 153,569
Taxation and social security costs 73,191 64,060
Other creditors 39,562 43,471
141,515 279,148
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 216,068 217,956
7 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years 182,461 184,296
Secured bank loans 207,267 206,837
Allicia Bank Ltd holds a fixed charge over the freehold land and buildings.
8 Revaluation reserve 2024 2023
£ £
At 1 July 2023 156,832 182,285
Gain on revaluation of land and buildings
Transfer of revaluation deprecition to profit and loss reserve (1,921) (1,921)
Deferred taxation movement on the revaluation of land and buildings 480 (23,532)
At 30 June 2024 155,391 156,832
9 Other information
ARCHITECTURAL METALWORKERS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Unit 4a, Tilley Road
Crowther Industrial Estate
Washington
Tyne and Wear
NE38 0AE
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