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Unaudited Financial Statements for the Year Ended 30 June 2021 |
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AFS BIOMASS LIMITED |
REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 30 June 2021 |
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for |
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AFS BIOMASS LIMITED |
AFS BIOMASS LIMITED (REGISTERED NUMBER: 07918329) |
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Contents of the Financial Statements |
for the Year Ended 30 June 2021 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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AFS BIOMASS LIMITED |
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Company Information |
for the Year Ended 30 June 2021 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Century Buildings |
14 St Mary's Parsonage |
Manchester |
M3 2DF |
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BANKERS: |
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11 Stamford New Road |
Altrincham |
Cheshire |
WA14 1BW |
AFS BIOMASS LIMITED (REGISTERED NUMBER: 07918329) |
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Balance Sheet |
30 June 2021 |
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30.6.21 | 30.6.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT (LIABILITIES)/ASSETS | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
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NET (LIABILITIES)/ASSETS | ( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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AFS BIOMASS LIMITED (REGISTERED NUMBER: 07918329) |
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Notes to the Financial Statements |
for the Year Ended 30 June 2021 |
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1. | STATUTORY INFORMATION |
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AFS Biomass Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is accounted for as revenue when, and to the extent that, the company obtains a right to consideration in exchange for its performance of its obligations under the sales contract with the customer. The amount reported as revenue is the fair value of the right to consideration - usually the price specified in the contractual arrangement net of discounts and net of VAT, and after any allowance for credit risk and other uncertainties. |
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Tangible fixed assets |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Computer equipment | - |
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Tangible fixed assets are initially recorded at cost. |
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Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
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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. |
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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. |
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Financial instruments |
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
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Operating lease commitments |
Rentals paid under operating leases are charged to the profit and loss account on a straight line |
basis over the period of the lease. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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AFS BIOMASS LIMITED (REGISTERED NUMBER: 07918329) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2021 |
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Computer |
machinery | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 July 2020 |
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Additions |
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Disposals |
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At 30 June 2021 |
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DEPRECIATION |
At 1 July 2020 |
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Charge for year |
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Eliminated on disposal |
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At 30 June 2021 |
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NET BOOK VALUE |
At 30 June 2021 |
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At 30 June 2020 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.21 | 30.6.20 |
£ | £ |
Trade debtors |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.21 | 30.6.20 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.6.21 | 30.6.20 |
£ | £ |
Bank loans |
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8. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
30.6.21 | 30.6.20 |
£ | £ |
Within one year |
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Between one and five years |
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AFS BIOMASS LIMITED (REGISTERED NUMBER: 07918329) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2021 |
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9. | RELATED PARTY DISCLOSURES |
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At the balance sheet date the company was owed by its' directors an amount of £62,697. These loans are unsecured and have no fixed terms for repayment. Interest has been charged on this loan at market rate.These loans were repaid after the balance sheet date. |
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10. | BASIS OF PREPARATION |
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The financial statements have been prepared on a going concern basis, the applicability of which is dependent upon the continued support of its financiers. At the balance sheet date, the company had net liabilities of £54,278 and a reported loss for the year of £88,180. In the opinion of the directors, the company has the support of its financiers for the foreseeable future and it is therefore appropriate to adopt the going concern basis. |