AAM Composites Limited
Report and Accounts
For the Year Ended
31 October 2017
Company Number
04319198
AAM Composites Limited
Report and Accounts
Year Ending 31 October 2017
Contents Page
Company Information 2
Report of the Directors 3
Profit and Loss Account 4
Balance Sheet 5
Notes to the Accounts 6 to 7
Company Information
Director
Mr. Stephen Davies
Registered Office
2 The Precinct
Rest Bay
Porthcawl
Glamorgan
CF36 3RF
AAM Composites Limited
Report of the Directors
The director presents a report and financial statements for the year ended 31 October 2017
Principal Activities
The principal activity of the company is the provision of contract services.
Directors
The directors who served during the period and their interest in the shares of the company at the
beginning and end of the period were as follows:
Ordinary Shares of 1GBP each
31 October 2017 31 October 2016
Mr. Stephen Davies 100 100
Small Company
Advantage has been taken of special exemptions applicable to small companies in the preparation
of this report
Registered Office On behalf of the board
2 The Precinct
Rest Bay
Porthcawl _________________
CF36 3RF Mr. Stephen Davies
This report was approved by the board on 10 April 2018 and signed on its behalf
AAM Composites Limited
Trading and Profit and Loss Account
Year Ending 31 October 2017
Note 2017 2016
No. £ £
Turnover 1 35580 43757
Less Cost of Sales 0 0
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Gross Profit 35580 43757
Administrative Expenses 27070 29105
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Operating Profit 2 8510 14652
Interest Received 0 0
Interest Payable 0 0
-------- --------
Profit on Ordinary Activities Before Taxation 8510 14652
Taxation 4 2206 3056
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Profit on Ordinary Activities After Taxation 6304 11596
Dividends Paid 7500 10000
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Retained Surplus Transferred to Reserves 8 -1196 1596
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Total Recognised Gains And Losses
There are no other gains or losses for the year other than those going through the profit and loss
account.
Continuing Activities
All income and expenses are from continuing activities.
AAM Composites Limited
Balance Sheet As At
31 October 2017
Note 2017 2017 2016 2016
No. £ £ £ £
Fixed Assets Intangible Assets 5 7880 0
Tangible Assets 5 3029 3738
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Total Fixed Assets 5 10909 3738
Current Assets:
Bank account 2244 4345
Trade debtors 1505 883
Work in progress 114 268
Directors loan account 0 0
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3863 5496
Creditors:
Amounts Falling due Within One Year 6 14644 7910
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Net Current Assets -10781 -2414
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Total Assets Less Current Liabilities 128 1324
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Capital and Reserves 2017 2016
£ £
Called up Share Capital 7 100 100
Profit and Loss Account 8 28 1224
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Shareholders Funds 8 128 1324
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The financial statements are hereby approved by the board of directors.
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.
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 preperation of accounts. This statement fully complies
with section 475 of the Companies Act 2006.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006
applicable to companies subject to the small companies regime.
Mr. Stephen Davies 10 April 2018
____________________ (director) _________________ Date
AAM Composites Limited
Notes to the Accounts
Year Ending 31 October 2017
1. Accounting Policies
(a) The accounts have been prepared under the Historical Cost Convention. The principal policies
which the directors have adopted within that convention are set out below.
(b) Depreciation is provided on tangible fixed assets each year in order to write their value down
over their estimated lives. The rates that apply are as follows:
Office equipment 40%
Plant and equipment 15%
(c) The charge for taxation is based on the profit for the year and takes into account taxation
deferred because of timing differences between the treatment of certain items for accounting and
taxation purposes. Provision for deferred taxation is made under the liability method only to the
extent that it is probable that the liability will become payable in the foreseeable future.
(d) Turnover is stated as invoices issued, net of value added tax payable.
2. Operating Profit 2017 2016
£ £
Operating profit is arrived at after charging:
Depreciation on tangible fixed assets 709 950
3. Directors Emoluments
The amounts received by the directors were as follows:
Management remuneration 8142 9165
4. Deferred Tax
No provision has been made in respect of deferred taxation. The total potential provision
would have been nil.
5. Fixed Assets Intangible
Fixed Asset Tangible Fixed Assets
Plant & Office Total
Cost Goodwill Cost Equipment Equipment £
Opening balance 0 Opening balance 9385 2991 12376
Additions 9850 Additions 0 0 0
Disposals 0 Revaluations 0 0 0
Closing balance 9850 Closing balance 9385 2991 12376
Depreciation Depreciation
Opening balance 0 Opening balance 6239 2399 8638
Charge for the year 1970 Charge for the year 472 237 709
Disposals 0 Revaluations 0 0 0
Closing balance 1970 Closing balance 6711 2636 9347
Net Book Value Net Book Value
Closing balance 7880 Closing balance 2674 355 3029
AAM Composites Limited
Notes to the Accounts (Continued)
Year Ending 31 October 2017
6. Creditors: due within one year. 2017 2016
£ £
Creditors and accruals 657 657
Corporation tax 2206 3056
Paye and ni 0 271
VAT 0 981
Directors loan account 11781 2945
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14644 7910
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7. Share Capital
Allocated, called up and fully paid
Ordinary shares of one GBP each 100 100
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8. Shareholders Funds Share Profit & Shareholders
Capital Loss a/c Funds
£ £ £
Opening balance 100 1224 1324
Results for the year 0 -1196 -1196
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31 October 2017 100 28 128
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9. Controlling Parties
A director and a controlling party of the company within the definition contained in FRS 8 is identified as:
Mr. Stephen Davies
This is the end of the statutory financial statements
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