Acoms Limited - Filleted accounts

Acoms Limited - Filleted accounts

ACOMS LIMITED - Company Information

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Registered number
06666778
Acoms Limited
Filleted Accounts
31 March 2021
Acoms Limited
Registered number: 06666778
Balance Sheet
as at 31 March 2021
Notes 2021 2020
£ £
Fixed assets
Tangible assets 3 109,057 84,880
Current assets
Stocks - 5,000
Debtors 4 386,719 228,726
Cash at bank and in hand 111,132 143,436
497,851 377,162
Creditors: amounts falling due within one year 5 (182,850) (132,010)
Net current assets 315,001 245,152
Net assets 424,058 330,032
Capital and reserves
Called up share capital 100 100
Profit and loss account 423,958 329,932
Shareholders' funds 424,058 330,032
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.
M Barker
Director
Approved by the board on 18 November 2021
Acoms Limited
Notes to the Accounts
for the year ended 31 March 2021
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.
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery 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.
2 Employees 2021 2020
Number Number
Average number of persons employed by the company 20 20
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2020 200,678 41,038 241,716
Additions - 49,653 49,653
At 31 March 2021 200,678 90,691 291,369
Depreciation
At 1 April 2020 119,101 37,735 156,836
Charge for the year 12,237 13,239 25,476
At 31 March 2021 131,338 50,974 182,312
Net book value
At 31 March 2021 69,340 39,717 109,057
At 31 March 2020 81,577 3,303 84,880
4 Debtors 2021 2020
£ £
Trade debtors 348,717 168,132
Other debtors 38,002 60,594
386,719 228,726
5 Creditors: amounts falling due within one year 2021 2020
£ £
Obligations under finance lease and hire purchase contracts 49,653 -
Trade creditors 45,448 70,827
Corporation tax 56,417 37,424
Other taxes and social security costs 31,332 19,437
Other creditors - 4,322
182,850 132,010
6 Other information
Acoms Limited is a private company limited by shares and incorporated in England. Its registered office is:
57 Windmill Street
Gravesend
Kent
DA12 1BB
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