A & K Read Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 07936813 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2022

FOR

A & K READ LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A M Read

Mrs K D Read

REGISTERED OFFICE:

Manchester House

High Street

Stalbridge

Sturminster Newton

Dorset

DT10 2LL

REGISTERED NUMBER:

07936813 (England and Wales)

ACCOUNTANTS:

Evans & Co

Manchester House

High Street

Stalbridge

Sturminster Newton

Dorset

DT10 2LL

FIXED ASSETS

Tangible assets

5

30,383

34,863

CURRENT ASSETS

Stocks

29,972

25,000

Debtors

6,551

4,333

Cash at bank and in hand

20,674

22,220

57,197

51,553

CREDITORS

Amounts falling due within one year

35,011

43,402

NET CURRENT ASSETS

22,186

8,151

TOTAL ASSETS LESS CURRENT LIABILITIES

52,569

43,014

CREDITORS

Amounts falling due after more than one year

-

(5,362

)

PROVISIONS FOR LIABILITIES

(4,823

)

(5,674

)

NET ASSETS

47,746

31,978

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

47,646

31,878

SHAREHOLDERS' FUNDS

47,746

31,978

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 28 February 2022 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 November 2022 and were signed on its behalf by:

A M Read - Director

Mrs K D Read - Director

1.	STATUTORY INFORMATION

A & K Read Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2021 - 9 ) .

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 March 2021

and 28 February 2022

60,624

DEPRECIATION

At 1 March 2021

25,761

Charge for year

4,480

At 28 February 2022

30,241

NET BOOK VALUE

At 28 February 2022

30,383

At 28 February 2021

34,863

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 March 2021

and 28 February 2022

25,888

DEPRECIATION

At 1 March 2021

7,184

Charge for year

2,806

At 28 February 2022

9,990

NET BOOK VALUE

At 28 February 2022

15,898

At 28 February 2021

18,704