Registered number
10053090
ACKLAM BOND LTD
Filleted Accounts
30 April 2024
ACKLAM BOND LTD
Registered number: 10053090
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 - 7,200
Tangible assets 4 2,561 3,535
2,561 10,735
Current assets
Stocks 620,060 600,060
Debtors 5 426,227 324,811
Cash at bank and in hand 1,874 1,021
1,048,161 925,892
Creditors: amounts falling due within one year 6 (844,848) (767,395)
Net current assets 203,313 158,497
Total assets less current liabilities 205,874 169,232
Creditors: amounts falling due after more than one year 7 (117,616) (87,889)
Net assets 88,258 81,343
Capital and reserves
Called up share capital 100 100
Profit and loss account 88,158 81,243
Shareholders' funds 88,258 81,343
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.
D Bond
Director
Approved by the board on 24 April 2025
ACKLAM BOND LTD
Notes to the Accounts
for the year ended 30 April 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:
Computers over 5 years
Fixtures, fittings, tools and equipment over 5 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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 11 10
3 Intangible fixed assets £
Goodwill:
Cost
At 1 May 2023 72,000
At 30 April 2024 72,000
Amortisation
At 1 May 2023 64,800
Provided during the year 7,200
At 30 April 2024 72,000
Net book value
At 30 April 2024 -
At 30 April 2023 7,200
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Computers Fixtures & equipment Total
£ £ £
Cost
At 1 May 2023 23,448 3,494 26,942
Additions 425 - 425
At 30 April 2024 23,873 3,494 27,367
Depreciation
At 1 May 2023 19,992 3,415 23,407
Charge for the year 1,320 79 1,399
At 30 April 2024 21,312 3,494 24,806
Net book value
At 30 April 2024 2,561 - 2,561
At 30 April 2023 3,456 79 3,535
5 Debtors 2024 2023
£ £
Trade debtors 372,962 286,154
Other debtors 53,265 38,657
426,227 324,811
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 150,427 136,479
Trade creditors 59,579 72,422
Taxation and social security costs 113,582 153,025
Other creditors 521,260 405,469
844,848 767,395
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 117,616 87,889
8 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 50,000 50,000
The bank overdraft is secured by way of a fixed & floating charge over all of the property or undertaking of the company.
9 Controlling party
During the year the company was under the control of the directors Denise Bond.
10 Other information
ACKLAM BOND LTD is a private company limited by shares and incorporated in England. Its registered office is:
Equity Chambers
10-12 St James Street
Lancashire
BB5 1LY
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