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A.A. Bramall Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2017

A.A. Bramall Limited

Contents

Company Information	1
Accountants' Report	2
Balance Sheet	3 to 4
Notes to the Financial Statements	5 to 11

A.A. Bramall Limited

Company Information

Directors

M Bramall S Bramall

Company secretary

M Bramall

Registered office

1 The Close Bladon Houses Newton Solney Burton-On-Trent DE15 0SZ

Page 1

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
A.A. Bramall Limited
for the Year Ended 31 March 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of A.A. Bramall Limited for the year ended 31 March 2017 as set out on pages 3 to 11 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/ members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of A.A. Bramall Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of A.A. Bramall Limited and state those matters that we have agreed to state to the Board of Directors of A.A. Bramall Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than A.A. Bramall Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that A.A. Bramall Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of A.A. Bramall Limited. You consider that A.A. Bramall Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of A.A. Bramall 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.

......................................

ADS Tax and Accounting Ltd
1 The Close
Bladon Houses
Newton Solney
Burton-On-Trent
DE15 0SZ

22 December 2017

Page 2

A.A. Bramall Limited

(Registration number: 00562971)
Balance Sheet as at 31 March 2017

	Note	2017 £	(As restated) 2016 £
Fixed assets
Tangible assets	5	1	1,701,880
Current assets
Stocks		882,931	1,149,249
Debtors	6	3,129	13,074
Cash at bank and in hand		561,634	424,750
		1,447,694	1,587,073
Creditors: Amounts falling due within one year	7	(279,179)	(435,154)
Net current assets		1,168,515	1,151,919
Total assets less current liabilities		1,168,516	2,853,799
Provisions for liabilities		-	(185,580)
Net assets		1,168,516	2,668,219
Capital and reserves
Called up share capital		147,000	147,000
Profit and loss account		1,021,516	2,521,219
Total equity		1,168,516	2,668,219

For the financial year ending 31 March 2017 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

The notes on pages 5 to 11 form an integral part of these financial statements.

Page 3

A.A. Bramall Limited

(Registration number: 00562971)
Balance Sheet as at 31 March 2017

Approved and authorised by the Board on 22 December 2017 and signed on its behalf by:
 

......................................... M Bramall Company secretary and director

......................................... S Bramall Director

The notes on pages 5 to 11 form an integral part of these financial statements.

Page 4

A.A. Bramall Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
1 The Close
Bladon Houses
Newton Solney
Burton-On-Trent
DE15 0SZ

The principal place of business is:
30 Aldene Avenue
SHEFFIELD
S6 4DA

These financial statements were authorised for issue by the Board on 22 December 2017.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The date of transition to Financial Reporting Standard 102 section 1A (FRS 102) was 1 April 2015.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is stated net of value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the company and when specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that tax attributable to an item of income or expense recognised as other comprehensive income is recognised directly in other comprehensive income.

Page 5

A.A. Bramall Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences that exist at the reporting date. Timing differences are differences between taxable profits and total comprehensive income that arise from the inclusion of income and expenses in tax assessments in different periods from their recognition in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.

Tangible assets

Tangible assets other than investment property whose fair value can be measured reasonably, are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land, over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	10-20% per annum straight line
Office equipment	10-20% per annum straight line

Investment property

Investment property comprises properties held to earn rental income or for capital appreciation, or both. Investment property whose fair value can be measured reliably is initially measured at cost, including related transaction costs, and subsequently at each reoprting date is stated at fair value.

The difference between fair value of investment property at the reporting date and its carrying value prior to re-measurement is included in the profit and loss as other operating income.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Page 6

A.A. Bramall Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

Stocks

Stocks are stated at the lower of cost and net realisable value.

At each reporting date stocks are assessed for impairment. Any excess in the carrying amount of stock over its estimated selling price less costs to complete and sell is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distributions to the company’s shareholders are recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2016 - 7).

4	Loss/profit before tax

Arrived at after charging/(crediting)

	2017 £	2016 £
Depreciation expense	1,879	1,260
Management charges payable to parent	51,000	99,800

Page 7

A.A. Bramall Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

5	Tangible assets

	Freehold investment property £	Fixtures and fittings £	Office equipment £	Total £
Cost or valuation
At 1 April 2016	1,700,000	21,820	57,575	1,779,395
Disposals	(1,700,000)	-	-	(1,700,000)
At 31 March 2017	-	21,820	57,575	79,395
Depreciation
At 1 April 2016	-	19,940	57,575	77,515
Charge for the year	-	1,879	-	1,879
At 31 March 2017	-	21,819	57,575	79,394
Carrying amount
At 31 March 2017	-	1	-	1
At 31 March 2016	1,700,000	1,880	-	1,701,880

The freehold investment property was revalued to £1,700,000 by the company directors at as 31 March 2016 having regard to the actual third party disposal that completed on 30 September 2016. Following the sale of the non-ferrous scrap metal business in 2006 only a small part of the property remained self occupied, with the majority let to third parties, so rather than attempt an arbitrary split, the entire premises have been accounted for as investment property.

6

Debtors

	2017 £	2016 £
Trade debtors	-	4,021
Prepayments	1,562	9,053
Other debtors	1,567	-
	3,129	13,074

Page 8

A.A. Bramall Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

7

Creditors

Creditors: amounts falling due within one year

	Note	2017 £	2016 £
Due within one year
Trade creditors		19,930	23,838
Amounts owed to group undertakings and undertakings in which the company has a participating interest		82,158	360,172
Taxation and social security		-	9,676
Accruals and deferred income		10,958	36,474
Income tax liability		166,133	4,994
		279,179	435,154