Accounts



















	A & P CLARK LIMITED



	UNAUDITED FINANCIAL STATEMENTS


	FOR THE YEAR ENDED 5 APRIL 2017

	A & P CLARK LIMITED
	FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 5 APRIL 2017


	DIRECTORS

	P Clark
	A Clark


	SECRETARY

	P Clark

	REGISTERED OFFICE

	108 Gallows Hill Lane Abbots Langley Herts WD5 0BU


	COMPANY REGISTERED NUMBER

	05005830


	BANKERS

	Lloyds Bank plc


	ACCOUNTANTS

	Needham Hall & Co
	Chartered Accountants
	6 Bedford Road Barton-le-Clay Bedfordshire MK45 4JU

	page 1

	A & P CLARK LIMITED
	FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 5 APRIL 2017






	CONTENTS

	Pages


	3-4	Statement of Financial Position


	5-9	Notes to the Financial Statements

	page 2

A & P CLARK LIMITED
Company registered number: 05005830
STATEMENT OF FINANCIAL POSITION AT 05 April 2017

	Note	2017		2016
		£	£	£
FIXED ASSETS
Property, plant and equipment	3		7,587	9,827
CURRENT ASSETS
Debtors	4	1,330		5,784
Cash at bank and in hand		8,839		6,125
		10,169		11,909
CREDITORS: Amounts falling due within one year	5	17,736		13,962
NET CURRENT LIABILITIES			(7,567)	(2,053)
TOTAL ASSETS LESS CURRENT LIABILITIES			20	7,774

CREDITORS: Amounts falling due after more than one year	6		-	(7,676)
NET ASSETS			£20	£98

CAPITAL AND RESERVES
Called up share capital			1	1
Retained earnings			19	97
SHAREHOLDERS' FUNDS			£20	£98

	The notes on pages 5-9 form part of these financial statements

	page 3

A & P CLARK LIMITED
Company registered number: 05005830
STATEMENT OF FINANCIAL POSITION AT 05 April 2017 (CONT.)

	Note	2017		2016
		£	£	£



	In approving these financial statements as directors of the company we hereby confirm the following:

	For the year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

	The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2017 in accordance with section 476 of the Companies Act 2006.

	The directors acknowledge their responsibilities for: 1) ensuring that the company keeps accounting records which comply with Sections 386 and 386 of the Companies Act 2006, and 2) preparing financial statements that give a true and fair view of the state of affairs of the company at at the end of each financial year and of its profit or loss for the financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to the financial statements, so far as they are applicable to the company.


	These financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies

	In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

	The financial statements were approved and authorised for issue by the board of directors on 05 December 2017

	Signed on behalf of the board of directors



	P Clark, Director

	The notes on pages 5-9 form part of these financial statements

	page 4

	A & P CLARK LIMITED
	NOTES TO THE ACCOUNTS
	FOR THE YEAR ENDED 5 APRIL 2017



1.	SIGNIFICANT ACCOUNTING POLICIES


1a.	Statement of compliance

	A & P Clark Limited is a private limited company incorporated in England and Wales.

	Registered office:
	108 Gallows Hill Lane Abbots Langley Herts WD5 0BU
	These financial statements are the first financial statements that comply with FRS 102. The date of transition is 6 April 2016.

	The transition to FRS 102 has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in notes and below. These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

	Basis of accounting


	The financial statements have been prepared under the historical cost convention. The presentation currency is £ sterling.


1c.	Revenue recognition

	Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.


1d.	Borrowing costs

	Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale. Investment income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.


1e.	Taxation


	Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.


1f.	Property, plant and equipment

	Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life.

	Vehicles	Reducing balance 25%
	Fixtures and fittings	Reducing balance 25%

	The notes on pages 5-9 form part of these financial statements

	page 5

	A & P CLARK LIMITED
	NOTES TO THE ACCOUNTS (CONT.)
	FOR THE YEAR ENDED 5 APRIL 2017



1.	SIGNIFICANT ACCOUNTING POLICIES (CONT.)


1g.	Short term debtors and creditors

	Debtors and creditors receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in profit and loss.


1h.	Cash and cash equivalents

	Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. For the purpose of statement of cash flows, bank overdrafts which are repayable on demand form an integral part of the Company's cash management are included as a component of cash and cash equivalents.


1i.	Interest bearing borrowings

	All interest-bearing loans and borrowings which are basic financial instruments are initially recognised at the present value of cash payable to the bank (including interest). After initial recognition they are measured at amortised cost using the effective interest rate method, less impairment. Any difference between the amount initially recognised and redemption value is recognised in profit and loss together with any interest and fees payable.


1j.	Leased assets

	Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the Company are capitalised in the balance sheet and are depreciated over the shorter of the lease term and the asset's useful life. A corresponding liability is recognised for the lower of the fair value of the leased asset and the present value of the minimum lease payments in the balance sheet. Lease payments are apportioned between the reduction of the lease liability and finance charges in the income statement so as to achieve a constant rate of interest on the remaining balance of the liability. Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term. Lease incentives are recognised over the lease term on a straight line basis.


1k.	Employee benefits

	The obligations for contributions to defined contribution scheme are recognised as an expense as incurred. The assets of the scheme are held separately from those of the Company in an independent administered fund.


1l.	Discontinued operations

	A discontinued operation is a component of the Company's business, the operations and cash flows of which can be clearly distinguished from the rest of the Company and which represents a separate major line of business or geographical area of operations, or is part of a signal coordinated disposal of a separate major line of business or geographical area of operations, or is a subsidiary acquired exclusively with a review to resale.

	The notes on pages 5-9 form part of these financial statements

	page 6

	A & P CLARK LIMITED
	NOTES TO THE ACCOUNTS (CONT.)
	FOR THE YEAR ENDED 5 APRIL 2017



1.	SIGNIFICANT ACCOUNTING POLICIES (CONT.)


1m.	Provisions

	Provisions are recognised when the Company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.


1n.	Judgements and key sources of estimation uncertainty

	In the application of the Company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:



2.	DIRECTORS AND EMPLOYEES

	The average weekly number of employees during the year were as follows:
		2017	2016
		No.	No.
	Management and administration	2	2

	The notes on pages 5-9 form part of these financial statements

	page 7

	A & P CLARK LIMITED
	NOTES TO THE ACCOUNTS (CONT.)
	FOR THE YEAR ENDED 5 APRIL 2017


3.	PROPERTY, PLANT AND EQUIPMENT
		Plant &	Fixtures &
		Machinery	Equipment	Total
		£	£	£
	Cost

	At 6 April 2016	38,373	19,244	57,617
	Additions other than through business combinations	289	-	289

	At 5 April 2017	38,662	19,244	57,906

	Depreciation

	At 6 April 2016	36,664	11,126	47,790
	For the year	500	2,029	2,529
	At 5 April 2017	37,164	13,155	50,319

	Net Book Amounts

	At 5 April 2017	1,498	6,089	7,587
	At 5 April 2016	1,709	8,118	9,827



4.	DEBTORS	2017	2016
		£	£
	Other debtors	1,330	5,784
		£1,330	£5,784



5.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		2017	2016
		£	£
	Finance leases and hire purchase contracts	-	1,697
	Corporation tax	11,536	6,426
	Other taxes and social security	5,500	5,141
	Accruals and deferred income	700	698
		£17,736	£13,962

	The notes on pages 5-9 form part of these financial statements

	page 8

	A & P CLARK LIMITED
	NOTES TO THE ACCOUNTS (CONT.)
	FOR THE YEAR ENDED 5 APRIL 2017



6.	CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR
		2017	2016
		£	£
	Finance leases and hire purchase contracts	-	7,676
		£-	£7,676

	5% 150 preference shares of £1 each

	Analysis of borrowings:

	Due within five years:
	within 1 year
	leases	-	1,697
	within 2-5 years
	leases	-	7,676
		£-	£9,373

	The notes on pages 5-9 form part of these financial statements

	page 9