Aaron Roofing Services Limited - Period Ending 2016-08-31

Aaron Roofing Services Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 August 2016

Alexander Marshall
Chartered Accountants
84 Hamilton Road
Motherwell
Lanarkshire
ML1 3BY

Aaron Roofing Services Limited
Contents

Accountants' Report

Abbreviated Balance Sheet

Notes to the Abbreviated Accounts

3 to 5

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Aaron Roofing Services Limited
for the Year Ended 31 August 2016

In accordance with our terms of engagement, and in order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Aaron Roofing Services Limited for the year ended 31 August 2016 set out on pages 2 to 5 from the company's accounting records and from information and explanations you have given us.

We have carried out this engagement in accordance with best practice guidance issued by the Institute of Chartered Accountants of Scotland and have complied with the ethical guidance laid down by the Institute relating to members undertaking the preparation of financial statements. .

This report is made solely to the Board of Directors of Aaron Roofing Services Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken to enable us to prepare the financial statements of Aaron Roofing Services Limited on behalf of the Board of Directors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Aaron Roofing Services Limited and its Board of Directors as a body for our work or for this report.

You have acknowledged on the balance sheet your duty to ensure that Aaron Roofing Services Limited has kept adequate accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that Aaron Roofing Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit of the financial statements of Aaron Roofing Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

Alexander Marshall
Chartered Accountants
84 Hamilton Road
Motherwell
Lanarkshire
ML1 3BY

31 May 2017

Page 1

Aaron Roofing Services Limited
(Registration number: SC184896)
Abbreviated Balance Sheet at 31 August 2016

	Note	2016 £	2015 £
Fixed assets
Tangible fixed assets		10,539	7,831
Current assets
Stocks		2,500	3,850
Debtors		73,906	89,299
		76,406	93,149
Creditors: Amounts falling due within one year		(45,764)	(37,489)
Net current assets		30,642	55,660
Total assets less current liabilities		41,181	63,491
Creditors: Amounts falling due after more than one year		-	(1,584)
Provisions for liabilities		(2,108)	(1,566)
Net assets		39,073	60,341
Capital and reserves
Called up share capital	3	100	100
Profit and loss account		38,973	60,241
Shareholders' funds		39,073	60,341

For the year ending 31 August 2016 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 in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 31 May 2017 and signed on its behalf by:

Mr A Clarke
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Aaron Roofing Services Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	20% reducing balance basis
Motor vehicles	25% reducing balance basis
Office equipment	20% reducing balance basis

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Aaron Roofing Services Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2016
......... continued

2	Fixed assets

	Tangible assets £	Total £
Cost
At 1 September 2015	21,660	21,660
Additions	7,974	7,974
Disposals	(4,400)	(4,400)
At 31 August 2016	25,234	25,234
Depreciation
At 1 September 2015	13,829	13,829
Charge for the year	3,410	3,410
Eliminated on disposals	(2,544)	(2,544)
At 31 August 2016	14,695	14,695
Net book value
At 31 August 2016	10,539	10,539
At 31 August 2015	7,831	7,831

3	Share capital

Allotted, called up and fully paid shares

	2016			2015
		No.	£		No.	£
Ordinary shares of £1 each		100	100		100	100

Page 4

Aaron Roofing Services Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2016
......... continued

4	Related party transactions

Dividends were paid to the directors in the year totalling £38,750 (2015: 33,875).

Directors' advances and credits

	2016 Advance/ Credit £	2016 Repaid £	2015 Advance/ Credit £	2015 Repaid £
Mr A Clarke
Balance brought forward	68,203	50,086	80,732	12,529
Interest free loan advanced to the director with no formal repayment terms	44,606	-	-	-
	112,809	50,086	80,732	12,529

Mr S Clarke
Interest free loan advanced to the director with no formal repayment terms	7,942	7,770	-	-

Page 5