A & A Electrical Services Limited

Registered number

03023474

Filleted Accounts

5 April 2018

A & A Electrical Services Limited
Registered number:		03023474
Balance Sheet
as at 5 April 2018

Notes			2018			2017
£				£
Fixed assets
Tangible assets	3		11,067			21,866

Current assets
Debtors	4	1,154,147			1,312,797

Creditors: amounts falling due within one year	5	(631,558)			(859,839)

Net current assets			522,589			452,958

Total assets less current liabilities			533,656			474,824

Creditors: amounts falling due after more than one year	6		(99,446)			(116,824)

Provisions for liabilities			(2,103)			-


Net assets			432,107			358,000

Capital and reserves
Called up share capital			2			2
Profit and loss account			432,105			357,998

Shareholders' funds			432,107			358,000

The directors are 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 directors acknowledge their 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.




A R Wills
Director
Approved by the board on 15 June 2018

A & A Electrical Services Limited
Notes to the Accounts
for the year ended 5 April 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).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
	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:
	Motor vehicles	over 4 years
	Plant and machinery	over 4 years
	Fixtures, fittings, tools and equipment	over 4 years

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	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	Employees			2018		2017
Number					Number

	Average number of persons employed by the company			26		38


3	Tangible fixed assets
		Plant and machinery etc		Motor vehicles		Total
£			£		£
	Cost
	At 6 April 2017	94,493		42,780		137,273
	At 5 April 2018	94,493		42,780		137,273

	Depreciation
	At 6 April 2017	85,777		29,630		115,407
	Charge for the year	2,583		8,216		10,799
	At 5 April 2018	88,360		37,846		126,206

	Net book value
	At 5 April 2018	6,133		4,934		11,067
	At 5 April 2017	8,716		13,150		21,866


4	Debtors			2018		2017
£					£

	Trade debtors			1,143,292		1,289,504
	Deferred tax asset			-		12,245
	Other debtors			10,855		11,048
				1,154,147		1,312,797


5	Creditors: amounts falling due within one year			2018		2017
£					£

	Bank overdraft			116,947		88,298
	Trade creditors			86,311		517,967
	Taxation and social security costs			422,678		249,074
	Other creditors			5,622		4,500
				631,558		859,839


6	Creditors: amounts falling due after one year			2018		2017
£					£

	Other creditors			99,446		116,824


7	Bank borrowings			2018		2017
£					£
	Creditors include:

	Secured bank overdraft			116,947		88,298

	Bank borrowings are secured by a standard form debenture over the company's assets and other security provided by the directors.


8	Other financial commitments			2018		2017
£					£

	Total future minimum payments under non-cancellable operating leases			125,000		150,000


9	Other information

	A & A Electrical Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
	1 Aerodrome Close
	Loughborough
	Leics
	LE11 5RJ