Armstrong Industries Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 03187368 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 April 2023

for

Armstrong Industries Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J D Armstrong

A Richards

L Benn

SECRETARY:

LCC Associates Limited

REGISTERED OFFICE:

Leofric House

Binley Road

Coventry

West Midlands

CV3 1JN

REGISTERED NUMBER:

03187368 (England and Wales)

ACCOUNTANTS:

Leigh Christou Ltd

Chartered Certified Accountants

Leofric House

Binley Road

Coventry

CV3 1JN

FIXED ASSETS

Tangible assets

4

203,069

203,062

CURRENT ASSETS

Stocks

218,000

267,093

Debtors

5

373,277

279,692

Cash at bank and in hand

691,958

680,285

1,283,235

1,227,070

CREDITORS

Amounts falling due within one year

6

509,607

519,826

NET CURRENT ASSETS

773,628

707,244

TOTAL ASSETS LESS CURRENT LIABILITIES

976,697

910,306

CREDITORS

Amounts falling due after more than one year

7

(4,793

)

(20,479

)

PROVISIONS FOR LIABILITIES

(47,240

)

(35,312

)

NET ASSETS

924,664

854,515

CAPITAL AND RESERVES

Called up share capital

3

3

Retained earnings

924,661

854,512

SHAREHOLDERS' FUNDS

924,664

854,515

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 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 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 June 2023 and were signed on its behalf by:

J D Armstrong - Director

1.	STATUTORY INFORMATION

Armstrong Industries 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 represents net invoiced sales of goods and services, excluding value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration.

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.

Improvements to property

-

Straight line over 10 years

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

Straight line over 3 years

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

Deferred taxation

Deferred taxation 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 taxation 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 upon current tax rates and laws.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2022 - 39 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 May 2022

49,595

1,199,865

38,954

Additions

-

14,975

6,370

At 30 April 2023

49,595

1,214,840

45,324

DEPRECIATION

At 1 May 2022

21,104

1,061,504

18,260

Charge for year

3,639

34,903

4,776

At 30 April 2023

24,743

1,096,407

23,036

NET BOOK VALUE

At 30 April 2023

24,852

118,433

22,288

At 30 April 2022

28,491

138,361

20,694

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 May 2022

29,290

88,413

1,406,117

Additions

24,250

5,048

50,643

At 30 April 2023

53,540

93,461

1,456,760

DEPRECIATION

At 1 May 2022

15,668

86,520

1,203,056

Charge for year

4,921

2,396

50,635

At 30 April 2023

20,589

88,916

1,253,691

NET BOOK VALUE

At 30 April 2023

32,951

4,545

203,069

At 30 April 2022

13,622

1,893

203,061

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 May 2022

and 30 April 2023

182,241

9,500

191,741

DEPRECIATION

At 1 May 2022

104,437

2,660

107,097

Charge for year

19,451

1,368

20,819

At 30 April 2023

123,888

4,028

127,916

NET BOOK VALUE

At 30 April 2023

58,353

5,472

63,825

At 30 April 2022

77,804

6,840

84,644

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.23

30.4.22

£

£

Trade debtors

365,208

270,936

Other debtors

8,069

8,756

373,277

279,692

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.23

30.4.22

£

£

Bank loans and overdrafts

2,083

25,000

Hire purchase contracts

13,603

31,525

Trade creditors

263,960

205,867

Amounts owed to group undertakings

-

2,178

Taxation and social security

152,719

156,626

Other creditors

77,242

98,630

509,607

519,826

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.23

30.4.22

£

£

Bank loans

-

2,083

Hire purchase contracts

4,793

18,396

4,793

20,479

8.	SECURED DEBTS

The following secured debts are included within creditors:

30.4.23

30.4.22

£

£

Hire purchase contracts

18,396

49,921

The hire purchase creditors are secured upon the asset purchased under each individual agreement.

9.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr J D Armstrong by virtue of his majority shareholding in the parent company Westrow Properties Limited.