A & P Electrical Ltd
Registered number: 06053251
Balance Sheet
as at 31 January 2018
Notes 2018 2017
£ £
Fixed assets
Tangible assets 3 1,317 1,655
Current assets
Stocks 3,177 2,173
Debtors 4 8,160 4,412
Cash at bank and in hand 23,694 11,317
35,031 17,902
Creditors: amounts falling due within one year 5 (8,157) (6,896)
Net current assets 26,874 11,006
Net assets 28,191 12,661
Capital and reserves
Called up share capital 100 100
Profit and loss account 28,091 12,561
Shareholders' funds 28,191 12,661
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Andreas Procopiou
Director
Approved by the board on 23 October 2018
A & P Electrical Ltd
Notes to the Accounts
for the year ended 31 January 2018
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Goodwill Over 5 years
Plant and machinery 15% on written down value
Motor vehicles 25% on written down value
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Intangible fixed assets £
Goodwill:
Cost
At 1 February 2017 52,710
At 31 January 2018 52,710
Amortisation
At 1 February 2017 52,710
At 31 January 2018 52,710
Net book value
At 31 January 2018 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 February 2017 2,589 6,663 9,252
At 31 January 2018 2,589 6,663 9,252
Depreciation
At 1 February 2017 1,824 5,773 7,597
Charge for the year 115 223 338
At 31 January 2018 1,939 5,996 7,935
Net book value
At 31 January 2018 650 667 1,317
At 31 January 2017 765 890 1,655
4 Debtors 2018 2017
£ £
Trade debtors 4,470 2,177
Other debtors 3,690 2,235
8,160 4,412
5 Creditors: amounts falling due within one year 2018 2017
£ £
Trade creditors - 1,480
Corporation tax 7,317 4,616
Other creditors 840 800
8,157 6,896
6 Other information
A & P Electrical Ltd is a private company limited by shares and incorporated in England. Its registered office is:
190 Billet Road
London
E17 5DX
7 Controlling party
The controlling party is Mr Andreas Procopiou by virtue of his ownership of 100% of the issued
ordinary share capital of the company.
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