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Registered Number: 09527456
England and Wales

 

 

 


Filleted Accounts

for the year ended 30 April 2024

for

A.C. FIBRES LIMITED

 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 60,370    76,520 
60,370    76,520 
Current assets      
Debtors: amounts falling due within one year 4 779,385    1,011,934 
Cash at bank and in hand 489,993    195,069 
1,269,378    1,207,003 
Creditors: amount falling due within one year 5 (181,566)   (245,108)
Net current assets 1,087,812    961,895 
 
Total assets less current liabilities 1,148,182    1,038,415 
Provisions for liabilities 6 (14,539)   (14,539)
Net assets 1,133,643    1,023,876 
 

Capital and reserves
     
Called up share capital 7 1,000    1,000 
Profit and loss account 1,132,643    1,022,876 
Shareholders' funds 1,133,643    1,023,876 
 


For the year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 22 April 2025 and were signed on its behalf by:


-------------------------------
Stephen Connor
Director
1
General Information
A.C. Fibres Limited is a private company, limited by shares, registered in England and Wales, registration number 09527456, registration address Penny Lane Business Centre, 374 Smithdown Road, Liverpool, Merseyside, L15 5AN.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 25% Reducing Balance
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees


Average number of employees during the year was 6 (2023 : 7).
3.

Tangible fixed assets

Cost or valuation Motor Vehicles   Fixtures and Fittings   Total
  £   £   £
At 01 May 2023 97,894    65,999    163,893 
Additions   3,973    3,973 
Disposals    
At 30 April 2024 97,894    69,972    167,866 
Depreciation
At 01 May 2023 37,092    50,281    87,373 
Charge for year 15,201    4,922    20,123 
On disposals    
At 30 April 2024 52,293    55,203    107,496 
Net book values
Closing balance as at 30 April 2024 45,601    14,769    60,370 
Opening balance as at 01 May 2023 60,802    15,718    76,520 


4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 450,195    497,985 
Other Debtors 329,190    513,949 
779,385    1,011,934 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 6,230    1,977 
Corporation Tax 175,046    239,603 
PAYE & Social Security 290    872 
Directors' Current Accounts   2,656 
181,566    245,108 

6.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 14,539    14,539 
14,539    14,539 

7.

Share Capital

Authorised
350 Ordinary shares of £1.00 each
350 B Ordinary shares of £1.00 each
150 C Ordinary shares of £1.00 each
150 D Ordinary shares of £1.00 each
Allotted, called up and fully paid
2024
£
  2023
£
350 Ordinary shares of £1.00 each 350    350 
350 B Ordinary shares of £1.00 each 350    350 
150 C Ordinary shares of £1.00 each 150    150 
150 D Ordinary shares of £1.00 each 150    150 
1,000    1,000 

2