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A & R Limo's Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2018

Brothertons Accountants Ltd
2 Commercial House
Abbeymead Avenue
Gloucester
GL4 5UA

A & R Limo's Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 7

A & R Limo's Ltd

Company Information

Director

Mrs Alison Wendy Bingle

Company secretary

Tracey Louise Del Valle

Registered office

91 Midland Rd STONEHOUSE Gloucestershire GL10 2DN

Accountants

Brothertons Accountants Ltd 2 Commercial House Abbeymead Avenue Gloucester GL4 5UA

Page 1

A & R Limo's Ltd

(Registration number: 05680588)
Balance Sheet as at 31 January 2018

	Note	2018 £	2017 £
Fixed assets
Tangible assets	4	13,944	17,429
Current assets
Debtors	5	86	231
Cash at bank and in hand		213	186
		299	417
Creditors: Amounts falling due within one year	6	(15,175)	(15,175)
Net current liabilities		(14,876)	(14,758)
Total assets less current liabilities		(932)	2,671
Creditors: Amounts falling due after more than one year	6	(18,110)	(20,116)
Net liabilities		(19,042)	(17,445)
Capital and reserves
Called up share capital	7	100	100
Profit and loss account		(19,142)	(17,545)
Total equity		(19,042)	(17,445)

For the financial year ending 31 January 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges her 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.

Approved and authorised by the director on 26 October 2018
 

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

Mrs Alison Wendy Bingle
Director

The notes on pages 3 to 7 form an integral part of these financial statements.

Page 2

A & R Limo's Ltd

Notes to the Financial Statements for the Year Ended 31 January 2018

1	General information

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

The address of its registered office is:
91 Midland Rd
STONEHOUSE
Gloucestershire
GL10 2DN
United Kingdom

These financial statements were authorised for issue by the director on 26 October 2018.

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.

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 shown net of sales/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 entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the statement of financial position 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 and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Motor Vehicles	20% Reducing Balance

Page 3

A & R Limo's Ltd

Notes to the Financial Statements for the Year Ended 31 January 2018

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.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2017 - 1).

Page 4

A & R Limo's Ltd

Notes to the Financial Statements for the Year Ended 31 January 2018

4	Tangible assets

	Motor vehicles  £	Total £
Cost or valuation
At 1 February 2017	89,254	89,254
At 31 January 2018	89,254	89,254
Depreciation
At 1 February 2017	71,825	71,825
Charge for the year	3,485	3,485
At 31 January 2018	75,310	75,310
Carrying amount
At 31 January 2018	13,944	13,944
At 31 January 2017	17,429	17,429

5

Debtors

	2018 £	2017 £
Other debtors	86	231
	86	231

6

Creditors

Creditors: amounts falling due within one year

	2018 £	2017 £
Due within one year
Accruals and deferred income	575	575
Other creditors	14,600	14,600
	15,175	15,175