Archbond Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 01955549 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

ARCHBOND LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr SM King

REGISTERED OFFICE:

Mill Hill Factory

Desford Road

Enderby

Leicestershire

LE19 4AD

REGISTERED NUMBER:

01955549 (England and Wales)

FIXED ASSETS

Intangible assets

4

9,600

-

Tangible assets

5

76,204

82,238

85,804

82,238

CURRENT ASSETS

Stocks

6

274,415

336,211

Debtors

7

2,305,690

2,222,608

Cash at bank and in hand

303,704

130,724

2,883,809

2,689,543

CREDITORS

Amounts falling due within one year

8

639,216

620,154

NET CURRENT ASSETS

2,244,593

2,069,389

TOTAL ASSETS LESS CURRENT LIABILITIES

2,330,397

2,151,627

PROVISIONS FOR LIABILITIES

18,480

15,096

NET ASSETS

2,311,917

2,136,531

CAPITAL AND RESERVES

Called up share capital

50

50

Share premium

50

50

Retained earnings

2,311,817

2,136,431

SHAREHOLDERS' FUNDS

2,311,917

2,136,531

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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

The financial statements were approved by the director and authorised for issue on 1 August 2023 and were signed by:

Mr SM King - Director

1.	STATUTORY INFORMATION

Archbond 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

Tangible fixed assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life.

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.

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.

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.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.

Government grants are recognised using the accrual model.

Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

Additions

9,600

At 31 March 2023

9,600

NET BOOK VALUE

At 31 March 2023

9,600

5.	TANGIBLE FIXED ASSETS

Fixtures

Long

and

Motor

leasehold

fittings

vehicles

Totals

£

£

£

£

COST

At 1 April 2022

35,582

666,396

21,634

723,612

Additions

-

8,357

-

8,357

At 31 March 2023

35,582

674,753

21,634

731,969

DEPRECIATION

At 1 April 2022

35,582

588,236

17,556

641,374

Charge for year

-

13,576

815

14,391

At 31 March 2023

35,582

601,812

18,371

655,765

NET BOOK VALUE

At 31 March 2023

-

72,941

3,263

76,204

At 31 March 2022

-

78,160

4,078

82,238

6.

STOCKS

2023

2022

£

£

Stocks

274,415

336,211

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

296,542

352,303

Amounts owed by group undertakings

1,600,405

1,369,980

Other debtors

408,743

500,325

2,305,690

2,222,608

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

254,628

165,846

Taxation and social security

88,167

108,850

Other creditors

296,421

345,458

639,216

620,154

9.	ULTIMATE CONTROLLING PARTY

The company's immediate parent undertaking is Fenrir Holdings Limited. The registered office address and the principal place of business of Fenrir Holdings Limited is Mill Hill Factory, Desford Road, Enderby, Leicestershire, LE19 4AD.

The company is the subsidiary undertaking of a small group and as such is not required by the Companies Act 2006 to prepare group accounts.