Company Registration No. 03060035 (England and Wales)
Able Estates Limited
Unaudited accounts
for the year ended 28 February 2022
Able Estates Limited
Unaudited accounts
Contents
Able Estates Limited
Company Information
for the year ended 28 February 2022
Directors
L C Hillier
P S Jones
P D Mitchell
P Servis
R J Wonnacott
Company Number
03060035 (England and Wales)
Registered Office
287 Bexley Road
Northumberland Heath
Erith
Kent
DA8 3EX
Accountants
Clayton Stirling
123 Cross Lane East
Gravesend
Kent
DA12 5HA
Able Estates Limited
Statement of financial position
as at
28 February 2022
Tangible assets
26,065
27,286
Cash at bank and in hand
461,506
652,447
Creditors: amounts falling due within one year
(197,000)
(249,898)
Net current assets
581,819
532,489
Net assets
607,886
559,777
Called up share capital
100
100
Profit and loss account
607,786
559,677
Shareholders' funds
607,886
559,777
For the year ending 28 February 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 5 July 2022 and were signed on its behalf by
P D Mitchell
Director
Company Registration No. 03060035
Able Estates Limited
Notes to the Accounts
for the year ended 28 February 2022
Able Estates Limited is a private company, limited by shares, registered in England and Wales, registration number 03060035. The registered office is 287 Bexley Road, Northumberland Heath, Erith, Kent, DA8 3EX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
over duration of the lease
Plant & machinery
20% straight line basis
Motor vehicles
25% reducing balance basis
Fixtures & fittings
10% straight line basis
Computer equipment
33.33% straight line basis
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Able Estates Limited
Notes to the Accounts
for the year ended 28 February 2022
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 March 2021
18,345
16,850
5,550
14,293
8,893
63,931
Additions
-
-
7,650
-
665
8,315
Disposals
-
-
-
-
(2,822)
(2,822)
At 28 February 2022
18,345
16,850
13,200
14,293
6,736
69,424
At 1 March 2021
8,629
9,920
2,753
9,966
5,377
36,645
Charge for the year
1,620
2,511
2,093
1,159
2,153
9,536
On disposals
-
-
-
-
(2,822)
(2,822)
At 28 February 2022
10,249
12,431
4,846
11,125
4,708
43,359
At 28 February 2022
8,096
4,419
8,354
3,168
2,028
26,065
At 28 February 2021
9,716
6,930
2,797
4,327
3,516
27,286
5
Investments
Subsidiary undertakings
Valuation at 1 March 2021
2
Valuation at 28 February 2022
2
6
Debtors: amounts falling due within one year
2022
2021
Trade debtors
32,478
26,703
Amounts due from group undertakings etc.
100,147
100,507
Accrued income and prepayments
4,011
2,730
7
Creditors: amounts falling due within one year
2022
2021
Trade creditors
12,057
4,855
Taxes and social security
95,713
86,884
Other creditors
87,670
155,859
Loans from directors
1,560
-
Able Estates Limited
Notes to the Accounts
for the year ended 28 February 2022
8
Operating lease commitments
2022
2021
At 28 February 2022 the company has total minimum future payment commitments under non-cancellable operating leases as follows:
Operating leases expiring:
Within two to five years
30,625
48,125
9
Average number of employees
During the year the average number of employees was 14 (2021: 16).