A & W COMMERCIALS LIMITED

Company Registration Number:
02630625 (England and Wales)

Report of the Directors and Unaudited Financial Statements

Period of accounts

Start date: 01 August 2015

End date: 31 July 2016

A & W COMMERCIALS LIMITED

Contents of the Financial Statements

for the Period Ended 31 July 2016

Company Information
Report of the Directors
Profit and Loss Account
Gains and Losses
Balance sheet
Notes to the Financial Statements

A & W COMMERCIALS LIMITED

Company Information

for the Period Ended 31 July 2016




Director: David Peter Ainsworth
Susan Ainsworth
Registered office: (M6) Junction 36
Crooklands
Milnthorpe
Cumbria,
LA7 7NY
Company Registration Number: 02630625 (England and Wales)

A & W COMMERCIALS LIMITED

Directors' Report Period Ended 31 July 2016

The directors present their report with the financial statements of the company for the period ended 31 July 2016

Principal Activities

The company's principal activity during the period was the repairing of commercial vehicles

Directors
 The directors shown below have held office during the whole of the period from
01 August 2015 to 31 July 2016
David Peter Ainsworth
Susan Ainsworth

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on 14 March 2017
And Signed On Behalf Of The Board By:

Name: David Peter Ainsworth
Status: Director

Name: Susan Ainsworth
Status: Director

A & W COMMERCIALS LIMITED

Profit and Loss Account

for the Period Ended 31 July 2016


Notes
2016
£
2015
£
Turnover: 2 87,171 80,961
Cost of sales: ( 34,650 ) ( 33,678 )
Gross profit or (loss): 52,521 47,283
Administrative expenses: ( 52,697 ) ( 47,832 )
Operating profit or (loss): 3 ( 176 ) ( 549 )
Interest receivable and similar income: 513 224
Profit or (loss) on ordinary activities before taxation: 337 ( 325 )
Tax on profit or (loss) on ordinary activities: 4 ( 46 ) 75
Profit or (loss) for the financial year: 291 ( 250 )

The notes form part of these financial statements

A & W COMMERCIALS LIMITED

Statement of total recognised gains and losses

The company does not have any gains and losses other than Profit and Loss for the period to report

A & W COMMERCIALS LIMITED

Balance sheet

As at 31 July 2016


Notes
2016
£
2015
£
Fixed assets
Tangible assets: 6 3,029 3,564
Total fixed assets: 3,029 3,564
Current assets
Stocks: 7 12,688 3,176
Debtors: 8 15,382 15,536
Cash at bank and in hand: 142,151 173,976
Total current assets: 170,221 192,688
Creditors: amounts falling due within one year: 9, 10 ( 27,801 ) ( 41,034 )
Net current assets (liabilities): 142,420 151,654
Total assets less current liabilities: 145,449 155,218
Provision for liabilities: 11 ( 405 ) ( 465 )
Total net assets (liabilities): 145,044 154,753

The notes form part of these financial statements

A & W COMMERCIALS LIMITED

Balance sheet continued

As at 31 July 2016


Notes
2016
£
2015
£
Capital and reserves
Called up share capital: 12 1,000 1,000
Profit and loss account: 13 144,044 153,753
Shareholders funds: 145,044 154,753

For the year ending 31 July 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities 2015.

The financial statements were approved by the Board of Directors on 14 March 2017

SIGNED ON BEHALF OF THE BOARD BY:

Name: David Peter Ainsworth
Status: Director

Name: Susan Ainsworth
Status: Director

The notes form part of these financial statements

A & W COMMERCIALS LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2016

  • 1. Accounting policies

    Basis of measurement and preparation of accounts

    The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). The principal accounting policies of the company have remained unchanged from the previous year.

    Turnover policy

    Turnover represents net invoiced sales of goods and services, excluding value added tax

    Tangible fixed assets depreciation policy

    Depreciation is provided on the reducing balance method and aims to write down the cost of all tangible fixed assets over their expected normal useful lives. The rate generally applicable is 15%.

A & W COMMERCIALS LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2016

  • 2. Turnover

    Turnover represents net invoiced sales of goods and services, excluding value added tax

A & W COMMERCIALS LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2016

  • 3. Operating profit or (loss)

    Operating profit or (loss) before tax as stated after charging the following.


    2016
    £
    2015
    £
    Depreciation - owned assets: 535 629
    Operating lease rentals: 19,750 19,750

A & W COMMERCIALS LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2016

  • 4. Taxation

    The tax charge on the profit on ordinary activities for the period was as follows:


    2016
    £
    2015
    £
    UK Corporation tax: 106 0
    Deferred tax: ( 60 ) ( 75 )
    Tax on profit or (loss) on ordinary activities: 46 ( 75 )
    Profit or (loss) on ordinary activities before taxation: 337 ( 325 )
    Profit or (loss) on ordinary activities before taxation multiplied by the rate(s) of Corporation Tax applicable: 67 ( 65 )
    Accelerated capital allowances: ( 62 ) ( 71 )
    Any other adjustments: ( 23 ) ( 6 )
    Current tax charge or (credit): 106 0

A & W COMMERCIALS LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2016

  • 5. Dividends


    2016
    £
    2015
    £
    Dividends paid on ordinary shares: 10,000 5,000
    Total dividends paid: 10,000 5,000

A & W COMMERCIALS LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2016

  • 6. Tangible assets

    Land and buildings Plant and Machinery Fixtures and fittings Office Equipment Motor vehicles Total
    Cost £ £ £ £ £ £
    01 August 2015: - 30,079 - - - 30,079
    Additions: - - - - - 0
    Disposals: - - - - - 0
    Revaluations: - - - - - 0
    Transfers: - - - - - 0
    31 July 2016: - 30,079 - - - 30,079
    Depreciation
    01 August 2015: - 26,515 - - - 26,515
    Charge for year: - 535 - - - 535
    On disposals: - - - - - 0
    Other adjustments: - - - - - 0
    31 July 2016: - 27,050 - - - 27,050
    Net book value
    31 July 2016: - 3,029 - - - 3,029
    31 July 2015: - 3,564 - - - 3,564

A & W COMMERCIALS LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2016

  • 7. Stocks


    2016
    £
    2015
    £
    Stocks of raw materials and consumables: 265 345
    Work in progress: 12,423 2,831
    Total: 12,688 3,176

A & W COMMERCIALS LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2016

  • 8. Debtors


    2016
    £
    2015
    £
    Trade debtors: 14,118 11,500
    Prepayments and accrued income: 1,264 1,886
    Other debtors: 0 2,150
    Total: 15,382 15,536

A & W COMMERCIALS LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2016

  • 9. Creditors: amounts falling due within one year


    2016
    £
    2015
    £
    Trade creditors: 4,421 22,908
    Taxation and social security: 573 3,023
    Accruals and deferred income: 12,993 8,800
    Other creditors: 9,814 6,303
    Total: 27,801 41,034

A & W COMMERCIALS LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2016

  • 10. Operating lease commitments


    2016
    £
    2015
    £
    Within one year: 1,163 19,750
    Total: 1,163 19,750

A & W COMMERCIALS LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2016

  • 11. Provisions for liabilities


    2016
    £
    At 01 August 2015: 465
    Charge to the profit and loss account: ( 60 )
    At 31 July 2016: 405

A & W COMMERCIALS LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2016

  • 12. Called up share capital

    Allotted, called up and paid

    Previous period
    2015
    Class Number of shares Nominal value per share (£) Total (£)
    Ordinary shares: 1,000 1.00 1,000
    Preference shares: 0
    Total share capital (£): 1,000
    Current period
    2016
    Class Number of shares Nominal value per share (£) Total (£)
    Ordinary shares: 1,000 1.00 1,000
    Preference shares: 0
    Total share capital (£): 1,000

A & W COMMERCIALS LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2016

  • 13. Profit and loss account


    2016
    £
    2015
    £
    Opening balance: 153,753 159,003
    Profit or (loss) for the period: 291 ( 250 )
    Equity dividends paid: ( 10,000 ) ( 5,000 )
    Retained profit: 144,044 153,753

A & W COMMERCIALS LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2016

  • 14. Related party disclosures

    Name of related party: A&WCommercialsLtd1991PensionFund
    Relationship: Both directors of the company are trustees of the Pension Fund
    Description of the transaction Operating lease payments
    Balance at 01 August 2015 0
    Balance at 31 July 2016 0