A & D Computers Limited Company Accounts

COMPANY REGISTRATION NUMBER: 4788888

A & D Computers Limited

Filleted Unaudited Financial Statements

31 December 2016

A & D Computers Limited

Financial Statements

Year ended 31 December 2016

Contents	Pages

Statement of financial position	1 to 2

Notes to the financial statements	3 to 6

A & D Computers Limited

Statement of Financial Position

31 December 2016

	2016		2015
Note	£	£	£

Fixed assets

Tangible assets	5		479,289	336,693

Current assets

Stocks		1,002,013	806,607
Debtors	6	126,114	140,633
Cash at bank and in hand		316,630	300,562
		------------	------------
		1,444,757	1,247,802

Creditors: amounts falling due within one year	7	778,025		757,807
		------------		------------
Net current assets			666,732	489,995
			------------	---------
Total assets less current liabilities			1,146,021	826,688

Creditors: amounts falling due after more than one year	8		12,542	–

Provisions

Taxation including deferred tax	33,357	20,055
	------------	---------
Net assets	1,100,122	806,633
	------------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	1,100,022	806,533
	------------	---------
Members funds	1,100,122	806,633
	------------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

A & D Computers Limited

Statement of Financial Position (continued)

31 December 2016

These financial statements were approved by the board of directors and authorised for issue on 25 August 2017 , and are signed on behalf of the board by:

Mr D Sanderson

Director

Company registration number: 4788888

A & D Computers Limited

Notes to the Financial Statements

Year ended 31 December 2016

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 3 Clarence Street, Nottingham, NG3 2ET.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 January 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 11.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold property	-	10% straight line
Plant and equipment	-	25% reducing balance
Fixtures and fittings	-	15% reducing balance
Motor vehicles	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 40 (2015: 35 ).

5. Tangible assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 January 2016	302,033	182,870	–	154,245	639,148
Additions	145,714	36,443	29,023	38,650	249,830
Disposals	–	–	–	( 17,350)	( 17,350)
	---------	---------	--------	---------	---------
At 31 December 2016	447,747	219,313	29,023	175,545	871,628
	---------	---------	--------	---------	---------
Depreciation
At 1 January 2016	110,304	108,164	–	83,987	302,455
Charge for the year	43,064	27,787	4,353	25,626	100,830
Disposals	–	–	–	( 10,946)	( 10,946)
	---------	---------	--------	---------	---------
At 31 December 2016	153,368	135,951	4,353	98,667	392,339
	---------	---------	--------	---------	---------
Carrying amount
At 31 December 2016	294,379	83,362	24,670	76,878	479,289
	---------	---------	--------	---------	---------
At 31 December 2015	191,729	74,706	–	70,258	336,693
	---------	---------	--------	---------	---------

6. Debtors

	2016	2015
	£	£
Trade debtors	93,853	122,124
Amounts owed by group undertakings and undertakings in which the company has a participating interest	15,000	–
Other debtors	17,261	18,509
	---------	---------
	126,114	140,633
	---------	---------

7. Creditors: amounts falling due within one year

	2016	2015
	£	£
Bank loans and overdrafts	1,343	1,402
Trade creditors	532,317	586,630
Corporation tax	136,256	144,271
Social security and other taxes	100,932	20,700
Other creditors	7,177	4,804
	---------	---------
	778,025	757,807
	---------	---------

8. Creditors: amounts falling due after more than one year

	2016	2015
	£	£
Other creditors	12,542	–
	--------	----

9. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2016
	Balance brought forward	Amounts repaid	Balance outstanding
	£	£	£
Mr D Sanderson	( 1,804)	1,333	( 471)
	------	------	----

	2015
	Balance brought forward	Amounts repaid	Balance outstanding
	£	£	£
Mr D Sanderson	( 3,046)	1,242	( 1,804)
	------	------	------

10. Related party transactions

During the year the following dividends were paid to directors of the company: Mr D Sanderson £2,520 per ordinary share (2015 - £2,860) Mrs D Sanderson £2,520 per ordinary share (2015 - £2,860)

11. Transition to FRS 102

These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 January 2015.

No transitional adjustments were required in equity or profit or loss for the year.