Company registration number 06205455 (England and Wales)
AKB LOFT CONVERSION SPECIALISTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
AKB LOFT CONVERSION SPECIALISTS LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
AKB LOFT CONVERSION SPECIALISTS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
292,061
275,612
Current assets
Stocks
36,988
58,955
Debtors
4
207,305
153,792
Cash at bank and in hand
297,647
387,241
541,940
599,988
Creditors: amounts falling due within one year
5
(376,300)
(382,402)
Net current assets
165,640
217,586
Total assets less current liabilities
457,701
493,198
Creditors: amounts falling due after more than one year
6
(86,451)
(102,946)
Net assets
371,250
390,252
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
371,150
390,152
Total equity
371,250
390,252

For the financial 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.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 20 March 2025
A K Barker
Director
Company registration number 06205455 (England and Wales)
AKB LOFT CONVERSION SPECIALISTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 2 -
1
Accounting policies
Company information

AKB Loft Conversion Specialists Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5 Calverley Lane, Leeds, West Yorkshire, LS13 3LP.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost less depreciation.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Plant and equipment
15% reducing balance
Fixtures and fittings
15% reducing balance
Computers
33% reducing balance
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

AKB LOFT CONVERSION SPECIALISTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Leases

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
2
3
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 May 2023
234,014
45,833
14,087
216,854
510,788
Additions
116,930
-
0
1,251
-
0
118,181
Disposals
(57,000)
-
0
-
0
-
0
(57,000)
At 30 April 2024
293,944
45,833
15,338
216,854
571,969
Depreciation and impairment
At 1 May 2023
69,263
31,140
11,700
123,073
235,176
Depreciation charged in the year
33,700
2,204
1,201
23,445
60,550
Eliminated in respect of disposals
(15,818)
-
0
-
0
-
0
(15,818)
At 30 April 2024
87,145
33,344
12,901
146,518
279,908
Carrying amount
At 30 April 2024
206,799
12,489
2,437
70,336
292,061
At 30 April 2023
164,751
14,693
2,387
93,781
275,612
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
197,305
135,792
Other debtors
10,000
18,000
207,305
153,792
AKB LOFT CONVERSION SPECIALISTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 4 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
144,197
153,109
Obligations under finance leases
23,719
18,795
Trade creditors
90,710
35,585
Corporation tax
102,220
109,927
Other taxation and social security
13,868
63,878
Other creditors
61
83
Accruals and deferred income
1,525
1,025
376,300
382,402

Obligations under finance leases are secured on the assets to which they relate.

6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans
12,388
22,388
Obligations under finance leases
74,063
80,558
86,451
102,946

Obligations under finance leases are secured on the assets to which they relate.

7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
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