REGISTERED NUMBER: 05801992 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st May 2017

for

A & L Stewart Ltd.

Electrical Contractors

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A Stewart

Mrs L Stewart

SECRETARY:

Mrs L Stewart

REGISTERED OFFICE:

Fieldfare

Forest Farm, Langrickgate Lane

East Cottingwith

York

East Yorkshire

YO42 4TA

REGISTERED NUMBER:

05801992 (England and Wales)

ACCOUNTANTS:

Pocklington Accountancy Ltd

First Floor

14 Market Place

Pocklington

York

East Yorkshire

YO42 2AR

FIXED ASSETS

Intangible assets

4

3,200

Tangible assets

5

17,190

20,390

CURRENT ASSETS

Stocks

828

Debtors

6

14,162

Cash in hand

107

15,097

CREDITORS

Amounts falling due within one year

7

37,192

NET CURRENT LIABILITIES

(22,095

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,705

)

CREDITORS

Amounts falling due after more than one year

8

6,495

NET LIABILITIES

(8,200

)

CAPITAL AND RESERVES

Called up share capital

200

Retained earnings

(8,400

)

SHAREHOLDERS' FUNDS

(8,200

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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 financial statements, so far as applicable to the company.

The 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 by the Board of Directors on 31st January 2018 and were signed on its behalf by:

Mrs L Stewart - Director

1.	STATUTORY INFORMATION

A & L Stewart Ltd. is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

10% on reducing balance

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st June 2016

and 31st May 2017

8,000

AMORTISATION

At 1st June 2016

3,200

Charge for year

1,600

At 31st May 2017

4,800

NET BOOK VALUE

At 31st May 2017

3,200

At 31st May 2016

4,800

5.	TANGIBLE FIXED ASSETS

Fixtures

Workshop

Plant and

and

& store

machinery

fittings

£

£

£

COST

At 1st June 2016

1,550

1,600

1,274

Additions

-

558

-

At 31st May 2017

1,550

2,158

1,274

DEPRECIATION

At 1st June 2016

-

1,105

866

Charge for year

-

105

40

At 31st May 2017

-

1,210

906

NET BOOK VALUE

At 31st May 2017

1,550

948

368

At 31st May 2016

1,550

495

408

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1st June 2016

12,999

911

18,334

Additions

9,000

-

9,558

At 31st May 2017

21,999

911

27,892

DEPRECIATION

At 1st June 2016

4,169

831

6,971

Charge for year

3,566

20

3,731

At 31st May 2017

7,735

851

10,702

NET BOOK VALUE

At 31st May 2017

14,264

60

17,190

At 31st May 2016

8,830

80

11,363

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

13,962

Other debtors

200

14,162

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Bank loans and overdrafts

6,789

Hire purchase contracts

4,875

Trade creditors

8,438

Taxation and social security

15,285

Other creditors

1,805

37,192

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Hire purchase contracts

6,495

9.	SECURED DEBTS

The following secured debts are included within creditors:

£

Bank overdraft

6,789

The Bank overdraft is secured by personal guarantee made by the Directors, jointly.