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Registered number: 08744498
Allwood Sash Limited
Unaudited Financial Statements
For The Year Ended 31 October 2024
ATB Accounting Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08744498
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 24,983 26,171
24,983 26,171
CURRENT ASSETS
Stocks 6 2,500 3,500
Debtors 7 19,563 9,334
Cash at bank and in hand 45,969 86,925
68,032 99,759
Creditors: Amounts Falling Due Within One Year 8 (23,941 ) (32,593 )
NET CURRENT ASSETS (LIABILITIES) 44,091 67,166
TOTAL ASSETS LESS CURRENT LIABILITIES 69,074 93,337
NET ASSETS 69,074 93,337
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account 69,073 93,336
SHAREHOLDERS' FUNDS 69,074 93,337
Page 1
Page 2
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Nicholas Varney
Director
28/02/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Allwood Sash Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08744498 . The registered office is 141 Park Lane, Tilehurst, Reading, Berkshire, RG31 4DR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 rendering of services.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of four years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 25 years - 4%
Motor Vehicles 20% reducing balance
Computer Equipment 20% reducing balance
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current tax for the year is recognised in profit or loss, except when it related to items that are recognised in other comprehensive income or directly in equity, in which case, the current tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Sales, marketing and distribution 4 4
4 4
Page 3
Page 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 November 2023 10,000
As at 31 October 2024 10,000
Amortisation
As at 1 November 2023 10,000
As at 31 October 2024 10,000
Net Book Value
As at 31 October 2024 -
As at 1 November 2023 -
5. Tangible Assets
Land & Property
Freehold Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 November 2023 11,924 37,798 624 50,346
Additions - 19,900 - 19,900
Disposals - (20,789 ) - (20,789 )
As at 31 October 2024 11,924 36,909 624 49,457
Depreciation
As at 1 November 2023 2,385 21,166 624 24,175
Provided during the period 477 3,980 - 4,457
Disposals - (4,158 ) - (4,158 )
As at 31 October 2024 2,862 20,988 624 24,474
Net Book Value
As at 31 October 2024 9,062 15,921 - 24,983
As at 1 November 2023 9,539 16,632 - 26,171
6. Stocks
2024 2023
£ £
Materials 2,500 3,500
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 19,563 5,971
Prepayments and accrued income - 3,363
19,563 9,334
Page 4
Page 5
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 12,658 26,919
Other taxes and social security - 514
VAT 11,087 5,018
Director's loan account 196 142
23,941 32,593
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
10. Directors Advances, Credits and Guarantees
Dividends paid to directors
2024 2023
£ £
Mr Nicholas Varney 73,500 102,000
11. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 73,500 102,000
Page 5