Registered number
14493669
AF Refurbishments Ltd
Filleted Accounts
30 November 2024
AF Refurbishments Ltd
Registered number: 14493669
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 28,000 31,500
Tangible assets 4 1,621 1,413
29,621 32,913
Current assets
Debtors 5 2,119 3,935
Cash at bank and in hand 11,267 18,105
13,386 22,040
Creditors: amounts falling due within one year 6 (12,121) (10,141)
Net current assets 1,265 11,899
Net assets 30,886 44,812
Capital and reserves
Called up share capital 100 100
Share premium 22,900 22,900
Profit and loss account 7,886 21,812
Shareholder's funds 30,886 44,812
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.
Andrew Flood
Director
Approved by the board on 26 March 2025
AF Refurbishments Ltd
Notes to the Accounts
for the year ended 30 November 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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% reducing balalnce
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 1 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 December 2023 35,000
At 30 November 2024 35,000
Amortisation
At 1 December 2023 3,500
Provided during the year 3,500
At 30 November 2024 7,000
Net book value
At 30 November 2024 28,000
At 30 November 2023 31,500
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2023 1,413
Additions 748
At 30 November 2024 2,161
Depreciation
Charge for the year 540
At 30 November 2024 540
Net book value
At 30 November 2024 1,621
At 30 November 2023 1,413
5 Debtors 2024 2023
£ £
Other debtors 2,119 3,935
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 5,471 1,057
Directors loan account 946 116
Corporation Tax 2,881 8,359
Taxation and social security costs - -
Value Added Tax 1,656 (591)
Other creditors 1,167 1,200
12,121 10,141
7 Other information
AF Refurbishments Ltd is a private company limited by shares and incorporated in England.
The Nurseries
Burnt House Lane
Bransgore
BH23 8AL
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