Company Registration No. 06712614 (England and Wales)
Alba Insulation Limited
Unaudited accounts (Amended)
for the year ended 31 March 2021
Alba Insulation Limited
Unaudited accounts (Amended)
Contents
Alba Insulation Limited
Company Information
for the year ended 31 March 2021
Directors
Mr G Tori
Mr D Karriqi
Company Number
06712614 (England and Wales)
Registered Office
45 BAYTON ROAD
BAYTON ROAD INDUSTRIAL ESTATE, EXHALL
COVENTRY
CV7 9EL
ENGLAND
Accountants
M D James Accounting Ltd
65 Purcell Road
Courthouse Green
Coventry
West Midlands
CV6 7JY
Alba Insulation Limited
Statement of financial position
as at 31 March 2021
Tangible assets
15,370
13,759
Investment property
567,069
567,069
Debtors
1,470,530
1,345,297
Cash at bank and in hand
2,008,314
560,323
Creditors: amounts falling due within one year
(617,288)
(232,862)
Net current assets
2,861,556
1,682,758
Total assets less current liabilities
3,443,995
2,263,586
Provisions for liabilities
Deferred tax
(7,572)
(19,048)
Net assets
3,436,423
2,244,538
Called up share capital
20,000
20,000
Revaluation reserve
(43,930)
(92,930)
Profit and loss account
3,460,353
2,317,468
Shareholders' funds
3,436,423
2,244,538
For the year ending 31 March 2021 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 20 December 2021 and were signed on its behalf by
Mr G Tori
Director
Company Registration No. 06712614
Alba Insulation Limited
Notes to the Accounts
for the year ended 31 March 2021
Alba Insulation Limited is a private company, limited by shares, registered in England and Wales, registration number 06712614. The registered office is 45 BAYTON ROAD, BAYTON ROAD INDUSTRIAL ESTATE, EXHALL, COVENTRY, CV7 9EL, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling, rounded to the nearest £1
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
50% straight line charge
Motor vehicles
25% straight line charge
Fixtures & fittings
50% straight line charge
Computer equipment
50% straight line charge
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Alba Insulation Limited
Notes to the Accounts
for the year ended 31 March 2021
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2020
10,100
42,451
5,842
58,393
Additions
-
8,250
4,811
13,061
At 31 March 2021
10,100
50,701
10,653
71,454
At 1 April 2020
6,950
34,017
3,667
44,634
Charge for the year
3,104
5,920
2,426
11,450
At 31 March 2021
10,054
39,937
6,093
56,084
At 31 March 2021
46
10,764
4,560
15,370
At 31 March 2020
3,150
8,434
2,175
13,759
Fair value at 1 April 2020
567,069
Investment assets are shown at historical cost. A fair value adjustment is posted to the income & expenditure account and held in a non distributable reserve.
6
Debtors: amounts falling due within one year
2021
2020
Other debtors
1,389,934
1,345,297
7
Creditors: amounts falling due within one year
2021
2020
Trade creditors
22,599
20,462
Taxes and social security
342,387
105,380
Loans from directors
(8,325)
80,303
Alba Insulation Limited
Notes to the Accounts
for the year ended 31 March 2021
8
Deferred taxation
2021
2020
Accelerated capital allowances
(775)
1,392
Revaluation of investment property
8,347
17,656
Provision at start of year
19,048
(3,760)
(Credited)/charged to the profit and loss account
(11,476)
22,808
Provision at end of year
7,572
19,048
Allotted, called up and fully paid:
20,000 Ordinary shares of £1 each
20,000
20,000
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Advances to Directors are repayable on demand. No interest is charged.
11
Transactions with related parties
Loans to associated businesses as at the balance sheet date were:
£44,788 loan to Midland Smart Energy Limited, a company under common control (2020: £nil)
£1,345,146 loan to Alba Property Partnership, a business in which Alba Insulation Limited & the Directors are partners (2020: £1,345,297)
12
Average number of employees
During the year the average number of employees was 13 (2020: 14).
