Andola Fibres Limited 31/03/2023 iXBRL

ANDOLA FIBRES LIMITED - Company Information

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Company registration number: 01139354

Andola Fibres Limited

Unaudited filleted financial statements

31 March 2023

Andola Fibres Limited

Contents

Directors and other information

Statement of financial position

Notes to the financial statements

Andola Fibres Limited

Directors and other information


Directors
	G H S Ogden
	B E Walker	(Resigned 18 March 2023)
	T R Whitaker
	N M Walker	(Appointed 18 March 2023)


Company number	01139354


Registered office	Becks Mill
	Becks Road
	Keighley
	West Yorkshire
	BD21 1SD


Accountants	Howard Matthews Partnership
	Queensgate House
	23 North Park Road
	Harrogate
	North Yorkshire
	HG1 5PD

Andola Fibres Limited

Statement of financial position

31 March 2023

		2023		2022
	Note	£	£	£	£

Fixed assets
Investments	4	38		38
		_______		_______
			38		38

Current assets
Cash at bank and in hand		1,260		1,919
		_______		_______
		1,260		1,919
Creditors: amounts falling due
within one year	5	( 1,365)		( 1,352)
		_______		_______
Net current (liabilities)/assets			( 105)		567
			_______		_______
Total assets less current liabilities			( 67)		605

			_______		_______
Net (liabilities)/assets			( 67)		605
			_______		_______

Capital and reserves
Called up share capital			300		300
Profit and loss account			( 367)		305
			_______		_______
Shareholders (deficit)/funds			( 67)		605
			_______		_______

For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 29 November 2023 , and are signed on behalf of the board by:

G H S Ogden

Director

Company registration number: 01139354

Andola Fibres Limited

Notes to the financial statements

Year ended 31 March 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Becks Mill, Becks Road, Keighley, West Yorkshire, BD21 1SD.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Fixed asset investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Group accounts

The company is entitled to the exemption under Section 398 of the Companies Act 2006 from the obligation to prepare group accounts.

4. Investments

	Shares in group undertakings and participating interests	Total
	£	£
Cost
At 1 April 2022 and 31 March 2023	38	38
	_______	_______
Impairment
At 1 April 2022 and 31 March 2023	-	-
	_______	_______
Carrying amount
At 31 March 2023	38	38
	_______	_______
At 31 March 2022	38	38
	_______	_______

5. Creditors: amounts falling due within one year

	2023	2022
	£	£
Amounts owed to group undertakings and undertakings in which the company has a participating interest	65	52
Other creditors	1,300	1,300
	_______	_______
	1,365	1,352
	_______	_______

6. Related party transactions

During the year dividends of £148,608 were paid to Joseph Ogden Limited a company of which G H S Ogden is a director. Dividends were paid during the year of £99,072 to E G Harrison Limited of which B E Walker was a director.

7. Controlling party

There is no controlling interest.

8. Going concern

The accounts have been prepared on a going concern basis and do not incorporate any adjustments that might be required should this basis prove to be inappropriate. This assumes the continued support of the connected companies and the company's creditors.