Able Removals And Storage Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 08924137 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

ABLE REMOVALS AND STORAGE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs SA Sawbridge

Mr MA Sawbridge

REGISTERED OFFICE:

Unit E

Wilson Road

South Wigston

Leicester

LE18 4TP

REGISTERED NUMBER:

08924137 (England and Wales)

FIXED ASSETS

Intangible assets

4

22,500

45,000

Tangible assets

5

6,086

7,919

28,586

52,919

CURRENT ASSETS

Debtors

6

28,781

27,972

Cash at bank

109,541

89,871

138,322

117,843

CREDITORS

Amounts falling due within one year

7

86,190

88,494

NET CURRENT ASSETS

52,132

29,349

TOTAL ASSETS LESS CURRENT LIABILITIES

80,718

82,268

CREDITORS

Amounts falling due after more than one year

8

25,003

35,836

NET ASSETS

55,715

46,432

CAPITAL AND RESERVES

Called up share capital

9

101

101

Retained earnings

55,614

46,331

SHAREHOLDERS' FUNDS

55,715

46,432

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 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 August 2023 and were signed on its behalf by:

Mr MA Sawbridge - Director

Mrs SA Sawbridge - Director

1.	STATUTORY INFORMATION

Able Removals And Storage 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

Revenue comprises the fair value of the sale of services, excluding value added tax. The company provides services to customers under standard terms and conditions. In all cases revenue is recognised when the risks and rewards of ownership are transferred and this is defined to be on completion of services, except in respect of service contracts where revenue is recognised when the company obtains the right to consideration.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.

Intangible 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

25% on cost

Plant and machinery

-

25% on cost

Motor vehicles

-

25% on reducing balance

Website

-

33% on cost

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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2022

and 31 March 2023

300,000

AMORTISATION

At 1 April 2022

255,000

Charge for year

22,500

At 31 March 2023

277,500

NET BOOK VALUE

At 31 March 2023

22,500

At 31 March 2022

45,000

5.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Motor

property

machinery

vehicles

Website

Totals

£

£

£

£

£

COST

At 1 April 2022

75,417

19,595

21,491

12,237

128,740

Additions

-

1,149

-

-

1,149

At 31 March 2023

75,417

20,744

21,491

12,237

129,889

DEPRECIATION

At 1 April 2022

75,417

14,150

19,017

12,237

120,821

Charge for year

-

2,364

618

-

2,982

At 31 March 2023

75,417

16,514

19,635

12,237

123,803

NET BOOK VALUE

At 31 March 2023

-

4,230

1,856

-

6,086

At 31 March 2022

-

5,445

2,474

-

7,919

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

20,077

17,655

Other debtors

8,704

10,317

28,781

27,972

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

10,000

9,167

Trade creditors

1,529

2,614

Taxation and social security

35,296

27,892

Other creditors

39,365

48,821

86,190

88,494

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

25,003

35,836

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

100

Ordinary

£1

100

100

1

Ordinary A

£1

1

1

101

101