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Registration number: 02661896

A.A.C.(Road Markings) Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 October 2016
 

R & A Burns Limited
Chartered Certified Accountants
181-183 Summer Road
Erdington
Birmingham
B23 6DX

 

A.A.C.(Road Markings) Limited
Contents

Accountants' Report

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3 to 5

 

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
A.A.C.(Road Markings) Limited
for the Year Ended 31 October 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of A.A.C.(Road Markings) Limited for the year ended 31 October 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/rules-standards/acca-rulebook.html .

This report is made solely to the Board of Directors of A.A.C.(Road Markings) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of A.A.C.(Road Markings) Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www2.accaglobal.com/pubs/members/publications/technical_factsheets/downloads/163.doc. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than A.A.C.(Road Markings) Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that A.A.C.(Road Markings) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of A.A.C.(Road Markings) Limited. You consider that A.A.C.(Road Markings) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of A.A.C.(Road Markings) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

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

R & A Burns Limited
Chartered Certified Accountants
181-183 Summer Road
Erdington
Birmingham
B23 6DX

9 May 2017

 

A.A.C.(Road Markings) Limited
(Registration number: 02661896)
Abbreviated Balance Sheet at 31 October 2016

   

Note

   

2016
£

   

2015
£

 

Fixed assets

 

             

Tangible fixed assets

 

   

137,050

   

73,181

 

Current assets

 

             

Stocks

 

   

7,453

   

9,146

 

Debtors

 

3

   

186,111

   

164,257

 

Cash at bank and in hand

 

   

5,555

   

695

 
   

   

199,119

   

174,098

 

Creditors: Amounts falling due within one year

 

   

(180,400)

   

(191,660)

 

Net current assets/(liabilities)

 

   

18,719

   

(17,562)

 

Total assets less current liabilities

 

   

155,769

   

55,619

 

Creditors: Amounts falling due after more than one year

 

   

(64,790)

   

(3,750)

 

Provisions for liabilities

 

   

(27,411)

   

(14,637)

 

Net assets

 

   

63,568

   

37,232

 

Capital and reserves

 

             

Called up share capital

 

4

   

100

   

100

 

Profit and loss account

 

   

63,468

   

37,132

 

Shareholders' funds

 

   

63,568

   

37,232

 

For the year ending 31 October 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 .

Approved by the Board on 9 May 2017 and signed on its behalf by:

.........................................
Mrs. L.J. Bromage
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

 

A.A.C.(Road Markings) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2016
......... continued

1

Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

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

Asset class

Depreciation method and rate

Commercial Motor Vehicles

25% W.D.V.

Plant and Machinery

15% W.D.V.

Fixtures and Fittings

15% W.D.V.

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

 

A.A.C.(Road Markings) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2016
......... continued

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Bank borrowings being secured by a debenture and guarantee from the holding company.

2

Fixed assets

   

Tangible assets
£

   

Total
£

 

Cost

           

At 1 November 2015

 

184,810

   

184,810

 

Additions

 

90,814

   

90,814

 

Disposals

 

(26,147)

   

(26,147)

 

At 31 October 2016

 

249,477

   

249,477

 

Depreciation

           

At 1 November 2015

 

111,629

   

111,629

 

Charge for the year

 

20,329

   

20,329

 

Eliminated on disposals

 

(19,531)

   

(19,531)

 

At 31 October 2016

 

112,427

   

112,427

 

Net book value

           

At 31 October 2016

 

137,050

   

137,050

 

At 31 October 2015

 

73,181

   

73,181

 
 

A.A.C.(Road Markings) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2016
......... continued

3

Debtors

Debtors includes £28,716 (2015 - £33,729) receivable after more than one year.
 

 

 
Being
 
Amounts owed from holding company A.A.C. Holdings Limited.

4

Share capital

Allotted, called up and fully paid shares

 

2016

2015

   

No.

   

£

   

No.

   

£

 

Ordinary Shares of £1 each

 

100

   

100

   

100

   

100

 
                         

5

Related party transactions

The director shareholders are also director shareholders of the holding company A.A.C.Holdings Limited. Amounts due from the holding company are shown in the debtors note.
Rents and management charges within the accounts are amounts paid to the holding company.

6

Control

The company is controlled by A.A.C.Holdings Limited being a 76% controlling party.