Access Insulation & Coatings Ltd - Accounts to registrar (filleted) - small 22.3

Access Insulation & Coatings Ltd - Accounts to registrar (filleted) - small 22.3

ACCESS INSULATION & COATINGS LTD - Company Information

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REGISTERED NUMBER: 13465781 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 December 2022

for

Access Insulation & Coatings Ltd
SKS Bailey Group Limited
Oaklea House
46 Coatham Road
Redcar
TS10 1RS








Access Insulation & Coatings Ltd (Registered number: 13465781)






Contents of the Financial Statements
for the Year Ended 31 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Access Insulation & Coatings Ltd

Company Information
for the Year Ended 31 December 2022







DIRECTORS: P Bell
C Nicholson





REGISTERED OFFICE: Unit 10 Letitia Industrial Estate
Middlesbrough
Cleveland
TS5 4BE





REGISTERED NUMBER: 13465781 (England and Wales)





ACCOUNTANTS: SKS Bailey Group Limited
Oaklea House
46 Coatham Road
Redcar
TS10 1RS
Page 1
Access Insulation & Coatings Ltd (Registered number: 13465781)

Balance Sheet
31 December 2022

2022 2021
Notes £    £   
FIXED ASSETS
Tangible assets 4 49,554 -

CURRENT ASSETS
Debtors 5 412,515 -
Cash at bank and in hand 283,121 100
695,636 100
CREDITORS
Amounts falling due within one year 6 (320,016 ) -
NET CURRENT ASSETS 375,620 100
TOTAL ASSETS LESS CURRENT
LIABILITIES
425,174
100

CREDITORS
Amounts falling due after more than one
year
7
(39,531
)
-

PROVISIONS FOR LIABILITIES (9,415 ) -
NET ASSETS 376,228 100

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 376,128 -
376,228 100

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 notes form part of these financial statements

Page 2 continued...
Access Insulation & Coatings Ltd (Registered number: 13465781)

Balance Sheet - continued
31 December 2022


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

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 22 February 2023 and were signed on its behalf by:





C Nicholson - Director


The notes form part of these financial statements

Page 3
Access Insulation & Coatings Ltd (Registered number: 13465781)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

Access Insulation & Coatings Ltd 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. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
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. 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.
Motor vehicles - 25% on reducing balance

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
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 1 ) .

Page 4 continued...
Access Insulation & Coatings Ltd (Registered number: 13465781)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

4. TANGIBLE FIXED ASSETS
Motor
vehicles
£   
COST
Additions 50,380
At 31 December 2022 50,380
DEPRECIATION
Charge for year 826
At 31 December 2022 826
NET BOOK VALUE
At 31 December 2022 49,554

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 50,380
At 31 December 2022 50,380
DEPRECIATION
Charge for year 826
At 31 December 2022 826
NET BOOK VALUE
At 31 December 2022 49,554

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 412,270 -
Prepayments 245 -
412,515 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Hire purchase contracts 9,984 -
Trade creditors 70,714 -
Corporation tax 78,841 -
Social security and other tax (5,642 ) -
VAT 60,519 -
Other creditors 100,000 -
Accrued expenses 5,600 -
320,016 -

Page 5 continued...
Access Insulation & Coatings Ltd (Registered number: 13465781)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Hire purchase contracts 39,531 -

8. RELATED PARTY DISCLOSURES

Trade debtors includes £136,806.91 due from a company over which the directors have common control . Trade creditors includes £46,268.38 due to that company and other creditors includes a £100,000 interest free cash flow loan from that company to be repaid in 2023.

Page 6