REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
FOR |
ALBION COMPONENTS LTD |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
FOR |
ALBION COMPONENTS LTD |
ALBION COMPONENTS LTD (REGISTERED NUMBER: 07163111) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
ALBION COMPONENTS LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ALBION COMPONENTS LTD (REGISTERED NUMBER: 07163111) |
BALANCE SHEET |
30TH SEPTEMBER 2024 |
2024 | 2023 |
Notes | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
ALBION COMPONENTS LTD (REGISTERED NUMBER: 07163111) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
1. | STATUTORY INFORMATION |
Albion Components Ltd is a |
The financial statements are presented in £ Sterling which is the functional currency of the company and are rounded to the nearest £. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents the sale of spares for domestic boilers |
The company recognises revenue from the sale of goods when all the following conditions are satisfied: |
the company has transferred to the buyer the significant risks and rewards of ownership of the goods; |
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; |
the amount of revenue can be measured reliably; |
it is probable that the economic benefits associated with the transaction will flow to the entity; |
the costs incurred or to be incurred in respect of the transaction can be measured reliably. |
Tangible fixed assets |
Plant and machinery etc | - |
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. |
Stocks |
Stock is measured, using the first-in-first-out (FIFO) method, at the lower of cost and estimated selling price less costs to complete and sell, recognising an impairment loss if necessary. |
ALBION COMPONENTS LTD (REGISTERED NUMBER: 07163111) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
Trade and other debtors |
Trade and other debtors are initially and subsequently valued at cost. |
Cash and cash equivalents |
Cash and cash equivalents comprise cash at bank and on hand and deposits with banks . |
Foreign currency risk |
The Company has limited exposure to foreign currency risk. Substantially all of the Company's sales are denominated in Sterling whereas substantially all of the Company's purchases are denominated in Euros. |
Credit risk |
The Company is at risk from its customers defaulting in making payments for goods that have been supplied to them. The majority of the Company's customers are based within the central heating business and therefore industry related changes or economic hardships present a risk to the Company. |
Trade and other creditors |
Trade and other creditors are initially and subsequently valued at cost. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The holding company makes contributions on behalf of the company to employees' defined-contribution personal pension schemes and these contributions are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
ALBION COMPONENTS LTD (REGISTERED NUMBER: 07163111) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1st October 2023 |
Additions |
Disposals | ( |
) |
At 30th September 2024 |
DEPRECIATION |
At 1st October 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 30th September 2024 |
NET BOOK VALUE |
At 30th September 2024 |
At 30th September 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
8. | OTHER FINANCIAL COMMITMENTS |
The company has an arrangement in place that entitles one of the directors to a share of the profits if the company is sold, but as there is no intention to sell / imminent sale no value can be reliably assessed. |
ALBION COMPONENTS LTD (REGISTERED NUMBER: 07163111) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
9. | ULTIMATE CONTROLLING PARTY |
Ultimate control of the company resides with the shareholders of the parent company. |
The parent and ultimate holding company is Albion 4C Ltd, whose registered office is: |
8 Tollgate Estate, Romsey, S051 0HE |
Copies of the group accounts can be obtained online from Companies House. |