A & R Cooling Services Limited Small abridged accounts

Statement of Consent to Prepare Abridged Financial Statements

All of the members of A & R Cooling Services Limited have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 31 May 2017 in accordance with Section 444(2A) of the Companies Act 2006.

COMPANY REGISTRATION NUMBER: 03787412

A & R Cooling Services Limited

Filleted Unaudited Abridged Financial Statements

31 May 2017

A & R Cooling Services Limited

Abridged Financial Statements

Year ended 31 May 2017

Contents	Pages

Abridged statement of financial position	1 to 2

Notes to the abridged financial statements	3 to 6

A & R Cooling Services Limited

Abridged Statement of Financial Position

31 May 2017

	2017		2016
Note	£	£	£

Fixed assets

Intangible assets	5	–	52,400
Tangible assets	6	1,158	1,447
		-------	--------
		1,158	53,847

Current assets

Debtors	123,541	76,337
Cash at bank and in hand	501	510
	---------	--------
	124,042	76,847

Creditors: amounts falling due within one year	129,273		112,773
	---------		---------
Net current liabilities		5,231	35,926
		-------	--------
Total assets less current liabilities		( 4,073)	17,921
		-------	--------

Capital and reserves

Called up share capital	2	2
Profit and loss account	( 4,075)	17,919
	-------	--------
Shareholders (deficit)/funds	( 4,073)	17,921
	-------	--------

These abridged 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 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 abridged statement of comprehensive income has not been delivered.

For the year ending 31 May 2017 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 abridged 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 abridged financial statements .

A & R Cooling Services Limited

Abridged Statement of Financial Position (continued)

31 May 2017

These abridged financial statements were approved by the board of directors and authorised for issue on 20 February 2018 , and are signed on behalf of the board by:

A Herring Esq.

Director

Company registration number: 03787412

A & R Cooling Services Limited

Notes to the Abridged Financial Statements

Year ended 31 May 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Repton Manor, Repton Avenue, Ashford, Kent, TN23 3GP.

2. Statement of compliance

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

3. Accounting policies

Basis of preparation

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

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 June 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 9.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	20% reducing balance
Equipment	-	25% reducing balance

4. Employee numbers

The average number of persons employed by the company during the year amounted to 8 (2016: 8 ).

5. Intangible assets

	£
Cost
At 1 June 2016 and 31 May 2017	524,000
	---------
Amortisation
At 1 June 2016	471,600
Charge for the year	52,400
	---------
At 31 May 2017	524,000
	---------
Carrying amount
At 31 May 2017	–
	---------
At 31 May 2016	52,400
	---------

6. Tangible assets

	£
Cost
At 1 June 2016 and 31 May 2017	8,473
	-------
Depreciation
At 1 June 2016	7,026
Charge for the year	289
	-------
At 31 May 2017	7,315
	-------
Carrying amount
At 31 May 2017	1,158
	-------
At 31 May 2016	1,447
	-------

7. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2017
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
A Herring Esq.	( 2,912)	4,756	( 3,396)	( 1,552)
R Guildford Esq.	3,389	2,303	( 468)	5,224
	-------	-------	-------	-------
	477	7,059	( 3,864)	3,672
	-------	-------	-------	-------

	2016
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
A Herring Esq.	871	4,613	( 8,396)	( 2,912)
R Guildford Esq.	1,691	2,166	( 468)	3,389
	-------	-------	-------	-------
	2,562	6,779	( 8,864)	477
	-------	-------	-------	-------

8. Related party transactions

The company is controlled by the directors by virtue of their interest in 100% of the issued ordinary share capital in the company. The bank overdraft is personally secured to the value of £50,000, by A Herring Esq. and R Guildford Esq.

9. Transition to FRS 102

These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 June 2015.

No transitional adjustments were required in equity or profit or loss for the year.