A1 Demolition Limited - Filleted accounts

A1 Demolition Limited
Registered number:		07168370
Balance Sheet
as at 31 January 2017

Notes			2017			2016
£				£
Fixed assets
Tangible assets	2		374,982			449,109

Current assets
Stocks		53,623			23,623
Debtors	3	269,243			283,620
Cash at bank and in hand		21,823			8,213
		344,689			315,456

Creditors: amounts falling due within one year	4	(252,336)			(275,616)

Net current assets			92,353			39,840

Total assets less current liabilities			467,335			488,949

Creditors: amounts falling due after more than one year	5		(287,159)			(422,644)



Net assets			180,176			66,305

Capital and reserves
Called up share capital			2			2
Profit and loss account			180,174			66,303

Shareholders' funds			180,176			66,305

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




C Jackson
Director
Approved by the board on 23 March 2017

A1 Demolition Limited
Notes to the Accounts
for the year ended 31 January 2017


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery	25% reducing balance
	Motor vehicles	25% reducing balance

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.


2	Tangible fixed assets
		Plant and machinery etc		Motor vehicles		Total
£			£		£
	Cost
	At 1 February 2016	608,228		4,495		612,723
	Additions	42,927		-		42,927
	At 31 January 2017	651,155		4,495		655,650

	Depreciation
	At 1 February 2016	161,718		1,896		163,614
	Charge for the year	116,404		650		117,054
	At 31 January 2017	278,122		2,546		280,668

	Net book value
	At 31 January 2017	373,033		1,949		374,982
	At 31 January 2016	446,510		2,599		449,109




3	Debtors			2017		2016
£					£

	Trade debtors			190,757		135,480
	Other debtors			78,486		148,140
				269,243		283,620


4	Creditors: amounts falling due within one year			2017		2016
£					£

	Bank loans and overdrafts			419		18,059
	Obligations under finance lease and hire purchase contracts			155,370		155,370
	Trade creditors			48,178		45,326
	Other taxes and social security costs			41,513		50,005
	Other creditors			6,856		6,856
				252,336		275,616


5	Creditors: amounts falling due after one year			2017		2016
£					£

	Obligations under finance lease and hire purchase contracts			282,875		418,360
	Other creditors			4,284		4,284
				287,159		422,644


6	Other information

	A1 Demolition Limited is a private company limited by shares and incorporated in England. Its registered office is:
	1a Fisher Lane
	Bingham
	Nottingham
	NG13 3BQ