REGISTERED NUMBER: 05367848 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2017

for

AA & IC Carpentry Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

I L Neal

Mrs C Neal

SECRETARY:

Mrs C Neal

REGISTERED OFFICE:

Field Cottage

Main Road

Christian Malford

Chippenham

Wiltshire

SN15 4DA

REGISTERED NUMBER:

05367848 (England and Wales)

FIXED ASSETS

Tangible assets

4

133,397

66,418

CURRENT ASSETS

Debtors

5

190,649

139,464

Cash at bank and in hand

371,654

360,427

562,303

499,891

CREDITORS

Amounts falling due within one year

6

194,876

170,572

NET CURRENT ASSETS

367,427

329,319

TOTAL ASSETS LESS CURRENT LIABILITIES

500,824

395,737

PROVISIONS FOR LIABILITIES

8,080

-

NET ASSETS

492,744

395,737

CAPITAL AND RESERVES

Called up share capital

50

50

Capital redemption reserve

50

50

Retained earnings

492,644

395,637

SHAREHOLDERS' FUNDS

492,744

395,737

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 31 May 2017 and were signed on its behalf by:

I L Neal - Director

Mrs C Neal - Director

1.	STATUTORY INFORMATION

AA & IC Carpentry Limited 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.

The financial statement are presented in Sterling which is the functional currency of the company and rounded to

the nearest £.

These financial statements are the entity's first under FRS 102 Section 1A. Details of the transition to FRS 102

are disclosed in note 7.

Turnover

Revenue is measured at the fair value of the consideration received or receivable and represents the amount

receivable for goods supplied or services rendered, net of returns, discounts and rebates allowed by the company

and value added taxes.

Work done

Turnover is usually recognised on completion of the service. For engagements that span the year end turnover is

recognised by reference to the stage of completion at the balance sheet date.

Tangible fixed assets

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

Long leasehold

-

10% on straight line basis

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment

losses. Cost includes costs directly attributable to making the asset capable of operating as intended by

management.

Tangible assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the

difference between the net disposal proceeds and the carrying amount is recognised in profit or loss.

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 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.

Cash and cash equivalents

Cash and cash equivalents includes cash in hand, deposits held at call with banks and other short-term highly

liquid investments with original maturities of three months or less.

Debtors and creditors

Debtors and creditors with no stated interest rate and receivable and payable within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the profit and loss account in other

administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2016 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Long

and

Motor

leasehold

fittings

vehicles

Totals

£

£

£

£

COST

At 1 April 2016

12,267

12,600

69,999

94,866

Additions

837

1,745

123,147

125,729

Disposals

-

-

(69,999

)

(69,999

)

At 31 March 2017

13,104

14,345

123,147

150,596

DEPRECIATION

At 1 April 2016

-

9,560

18,888

28,448

Charge for year

1,311

1,196

5,132

7,639

Eliminated on disposal

-

-

(18,888

)

(18,888

)

At 31 March 2017

1,311

10,756

5,132

17,199

NET BOOK VALUE

At 31 March 2017

11,793

3,589

118,015

133,397

At 31 March 2016

12,267

3,040

51,111

66,418

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

174,607

135,244

VAT

16,042

4,220

190,649

139,464

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

141,655

110,496

Corporation tax

29,537

39,143

Social security and other taxes

14,684

17,433

Directors' current accounts

5,000

-

Accrued expenses

4,000

3,500

194,876

170,572

7.	FIRST YEAR ADOPTION

There were no transitional adjustments.