A B (Folding) Rollers Limited - Accounts to registrar (filleted) - small 18.2
A B (Folding) Rollers Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| A B (FOLDING) ROLLERS LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2021 |
| A B (FOLDING) ROLLERS LIMITED (REGISTERED NUMBER: 10747947) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| A B (FOLDING) ROLLERS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MAY 2021 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants and |
| Chartered Tax Advisers |
| 71 Knowl Piece |
| Wilbury Way |
| Hitchin |
| SG4 0TY |
| A B (FOLDING) ROLLERS LIMITED (REGISTERED NUMBER: 10747947) |
| BALANCE SHEET |
| 31 MAY 2021 |
| 2021 | 2020 |
| as restated |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| CREDITORS |
| Amounts falling due after more than one year | 7 | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | (4,780 | ) |
| ( |
) | ( |
) |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| A B (FOLDING) ROLLERS LIMITED (REGISTERED NUMBER: 10747947) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2021 |
| 1. | STATUTORY INFORMATION |
| A B (Folding) Rollers Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Significant judgements and estimates |
| The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty. |
| 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 |
| Plant and machinery | - |
| Government grants |
| Government grants have been accounted for under the accrual model, recognised as other income against the period to which they relate. |
| Financial instruments |
| The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. |
| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account. |
| Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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. |
| A B (FOLDING) ROLLERS LIMITED (REGISTERED NUMBER: 10747947) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MAY 2021 |
| 2. | ACCOUNTING POLICIES - continued |
| Going concern |
| The directors are of the opinion that it is appropriate to prepare the accounts on the going concern basis, because they have confirmed their continued support for the company for the foreseeable future. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| £ |
| COST |
| At 1 June 2020 |
| Additions |
| At 31 May 2021 |
| DEPRECIATION |
| At 1 June 2020 |
| Charge for year |
| At 31 May 2021 |
| NET BOOK VALUE |
| At 31 May 2021 |
| At 31 May 2020 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| as restated |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| as restated |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2021 | 2020 |
| as restated |
| £ | £ |
| Bank loans |
| A B (FOLDING) ROLLERS LIMITED (REGISTERED NUMBER: 10747947) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MAY 2021 |
| 8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 May 2021 and 31 May 2020: |
| 2021 | 2020 |
| as restated |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| During the year, interest of £nil (2020 - £175) was paid on the overdrawn loan at the HMRC official rate of interest. |
| 9. | RELATED PARTY DISCLOSURES |
| During the year, total dividends of £64,000 (2020 - £60,000) were paid to the directors . |
| At the balance sheet date, the directors were owed £11,058 (2020 - £7,413). |
| Rothwell Properties Limited |
| A company in which M Mallett is a director and shareholder. |
| Dividends paid to the related party were £nil (2020 - £6,667). |
| Amounts due to the related party at the balance sheet date is £nil (2020 - £14,200). |
| This loan is unsecured, there is no interest payable and there are no agreed repayment terms. |