Caseware UK (AP4) 2018.0.196 2018.0.196 2018-05-312018-05-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueNo description of principal activityfalse2017-06-01 05773663 2017-06-01 2018-05-31 05773663 2016-05-01 2017-05-31 05773663 2018-05-31 05773663 2017-05-31 05773663 c:Director1 2017-06-01 2018-05-31 05773663 d:MotorVehicles 2017-06-01 2018-05-31 05773663 d:MotorVehicles 2018-05-31 05773663 d:MotorVehicles 2017-05-31 05773663 d:MotorVehicles d:OwnedOrFreeholdAssets 2017-06-01 2018-05-31 05773663 d:FurnitureFittings 2017-06-01 2018-05-31 05773663 d:FurnitureFittings 2018-05-31 05773663 d:FurnitureFittings 2017-05-31 05773663 d:FurnitureFittings d:OwnedOrFreeholdAssets 2017-06-01 2018-05-31 05773663 d:OwnedOrFreeholdAssets 2017-06-01 2018-05-31 05773663 d:CurrentFinancialInstruments 2018-05-31 05773663 d:CurrentFinancialInstruments 2017-05-31 05773663 d:CurrentFinancialInstruments d:WithinOneYear 2018-05-31 05773663 d:CurrentFinancialInstruments d:WithinOneYear 2017-05-31 05773663 d:ShareCapital 2018-05-31 05773663 d:ShareCapital 2017-05-31 05773663 d:RetainedEarningsAccumulatedLosses 2018-05-31 05773663 d:RetainedEarningsAccumulatedLosses 2017-05-31 05773663 c:FRS102 2017-06-01 2018-05-31 05773663 c:AuditExempt-NoAccountantsReport 2017-06-01 2018-05-31 05773663 c:FullAccounts 2017-06-01 2018-05-31 05773663 c:PrivateLimitedCompanyLtd 2017-06-01 2018-05-31 iso4217:GBP xbrli:pure

Registered number: 05773663









A A APPLIANCE SERVICE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2018

 
A A APPLIANCE SERVICE LIMITED
REGISTERED NUMBER: 05773663

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2018

2018
2017
Note
£
£

Fixed assets
  

Tangible assets
 4 
257
292

Current assets
  

Stocks
  
100
120

Debtors: amounts falling due within one year
 5 
-
3,906

Cash at bank and in hand
 6 
5,774
3,453

  
5,874
7,479

Creditors: amounts falling due within one year
 7 
(18,869)
(16,816)

Net current liabilities
  
 
 
(12,995)
 
 
(9,337)

Total assets less current liabilities
  
(12,738)
(9,045)

Provisions for liabilities
  

Deferred tax
  
(20)
(20)

Net liabilities
  
 
 
(12,758)
 
 
(9,065)


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
(13,758)
(10,065)

  
(12,758)
(9,065)


Page 1

 
A A APPLIANCE SERVICE LIMITED
REGISTERED NUMBER: 05773663
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 2018

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




T S Ghatoaura
Director

Date: 6 February 2019


The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
A A APPLIANCE SERVICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2018

1.


General information

The principal activity of A A Appliance Service Limited 'the company' is that of repairs and servicing of refrigeration equipment.
The company is a private company limited by shares and is incorporated in England and Wales.
The registered office address is 106 Dale View Cresent, London E4 6PG

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The director confirms that he is satisfied that the company will have adequate support and resources to continue in business for the foreseeable future. For this reason, he adopts the going concern basis in preparing the accounts..

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
A A APPLIANCE SERVICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2018

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Motor vehicles
-
25% straight line
Fixtures & fittings
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of income and retained earnings.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first outbasis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 4

 
A A APPLIANCE SERVICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2018

2.Accounting policies (continued)

 
2.7

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.
(i) Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
(iii) Offsetting
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Page 5

 
A A APPLIANCE SERVICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2018

2.Accounting policies (continued)

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of income and retained earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of financial position date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2017 - 1).

Page 6

 
A A APPLIANCE SERVICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2018

4.


Tangible fixed assets





Motor vehicles
Fixtures & fittings
Total

£
£
£



Cost or valuation


At 1 June 2017
15,000
3,064
18,064


Additions
-
50
50



At 31 May 2018

15,000
3,114
18,114



Depreciation


At 1 June 2017
15,000
2,772
17,772


Charge for the year on owned assets
-
85
85



At 31 May 2018

15,000
2,857
17,857



Net book value



At 31 May 2018
-
257
257


5.


Debtors

2018
2017
£
£


Trade debtors
-
3,906



6.


Cash and cash equivalents

2018
2017
£
£

Cash at bank and in hand
5,775
3,453


Page 7

 
A A APPLIANCE SERVICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2018

7.


Creditors: Amounts falling due within one year

2018
2017
£
£

Other taxation and social security
960
451

Other creditors
16,449
15,635

Accruals and deferred income
1,460
730

18,869
16,816


 
Page 8