A&A Electrical Solutions Ltd Company Accounts

COMPANY REGISTRATION NUMBER: SC349689

A&A Electrical Solutions Ltd

Unaudited Financial Statements

31 October 2018

A&A Electrical Solutions Ltd

Financial Statements

Year ended 31 October 2018

Contents	Page

Director's report	1

Statement of income and retained earnings	2

Statement of financial position	3

Notes to the financial statements	4

The following pages do not form part of the financial statements

Detailed income statement	7

Notes to the detailed income statement	8

A&A Electrical Solutions Ltd

Director's Report

Year ended 31 October 2018

The director presents his report and the unaudited financial statements of the company for the year ended 31 October 2018 .

Director

The director who served the company during the year was as follows:

Mr A McLaughlan

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 24 April 2019 and signed on behalf of the board by:

Mr A McLaughlan
Director

Registered office:

87 Dean Park Avenue

Edinburgh

Scotland

EH14 7EE

A&A Electrical Solutions Ltd

Statement of Income and Retained Earnings

Year ended 31 October 2018

	2018	2017
Note	£	£
Turnover	12,508	16,862

Cost of sales	3,710	4,336
	--------	--------
Gross profit	8,798	12,526

Administrative expenses	8,907	10,815
	-------	--------
Operating (loss)/profit	( 109)	1,711

	-------	--------
(Loss)/profit before taxation	( 109)	1,711

Tax on (loss)/profit	–	334
	----	-------
(Loss)/profit for the financial year and total comprehensive income	( 109)	1,377
	----	-------

Retained earnings at the start of the year	3,172	1,795
	-------	-------
Retained earnings at the end of the year	3,063	3,172
	-------	-------

All the activities of the company are from continuing operations.

A&A Electrical Solutions Ltd

Statement of Financial Position

31 October 2018

	2018		2017
Note	£	£	£

Current assets

Debtors	5	185	–
Cash at bank and in hand		8,443	8,182
		-------	-------
		8,628	8,182

Creditors: amounts falling due within one year	6	5,545		4,990
		-------		-------
Net current assets			3,083	3,192
			-------	-------
Total assets less current liabilities			3,083	3,192
			-------	-------
Net assets			3,083	3,192
			-------	-------

Capital and reserves

Called up share capital	20	20
Profit and loss account	3,063	3,172
	-------	-------
Members funds	3,083	3,192
	-------	-------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

For the year ending 31 October 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 financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 24 April 2019 , and are signed on behalf of the board by:

Mr A McLaughlan
Director

Company registration number: SC349689

A&A Electrical Solutions Ltd

Notes to the Financial Statements

Year ended 31 October 2018

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is 87 Dean Park Avenue, Edinburgh, EH14 7EE, Scotland.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2017: 1 ).

5. Debtors

	2018	2017
	£	£
Trade debtors	185	–
	----	----

6. Creditors: amounts falling due within one year

	2018	2017
	£	£
Trade creditors	–	120
Corporation tax	–	334
Social security and other taxes	845	283
Other creditors	4,700	4,253
	-------	-------
	5,545	4,990
	-------	-------

7. Related party transactions

The company was under the control of Mr McLaughlan throughout the current and previous year. Mr McLaughlan is the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.

A&A Electrical Solutions Ltd

Management Information

Year ended 31 October 2018

The following pages do not form part of the financial statements.

A&A Electrical Solutions Ltd

Detailed Income Statement

Year ended 31 October 2018

	2018	2017
	£	£
Turnover	12,508	16,862

Cost of sales

Purchases	3,710	4,336

	-------	--------
Gross profit	8,798	12,526

Overheads

Administrative expenses	8,907	10,815

	-------	--------
Operating (loss)/profit	( 109)	1,711

	-------	--------
(Loss)/profit before taxation	(109)	1,711
	-------	--------

A&A Electrical Solutions Ltd

Notes to the Detailed Income Statement

Year ended 31 October 2018

	2018	2017
	£	£

Administrative expenses

Directors salaries	6,000	8,000
Insurance	312	258
Motor expenses	1,209	1,111
Telephone	255	223
Printing postage and stationery	206	284
Advertising	493	493
Accountancy fees	313	319
Bank charges	119	127
	-------	--------
	8,907	10,815
	-------	--------