REGISTERED NUMBER: 04893556 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2017

FOR

A & P SEDMAN LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr A Sedman

Mrs S A Sedman

REGISTERED OFFICE:

13 Yorkersgate

Malton

North Yorkshire

YO17 7AA

BUSINESS ADDRESS:

Unit 4

Showfield Lane

Malton

North Yorkshire

YO17 6BT

REGISTERED NUMBER:

04893556 (England and Wales)

ACCOUNTANTS:

Townsend Harrison Limited

13 Yorkersgate

Malton

North Yorkshire

YO17 7AA

FIXED ASSETS

Intangible assets

5

47,245

55,098

Tangible assets

6

6,474

6,657

53,719

61,755

CURRENT ASSETS

Stocks

11,750

6,555

Debtors

7

59,834

63,116

Cash at bank

18,934

27,314

90,518

96,985

CREDITORS

Amounts falling due within one year

8

85,090

88,015

NET CURRENT ASSETS

5,428

8,970

TOTAL ASSETS LESS CURRENT LIABILITIES

59,147

70,725

CREDITORS

Amounts falling due after more than one year

9

(45,000

)

(25,000

)

PROVISIONS FOR LIABILITIES

(1,230

)

(570

)

NET ASSETS

12,917

45,155

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

12,817

45,055

SHAREHOLDERS' FUNDS

12,917

45,155

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 2 November 2017 and were signed on its behalf by:

Mr A Sedman - Director

Mrs S A Sedman - Director

1.	STATUTORY INFORMATION

A & P Sedman 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The principal accounting policies adopted in the preparation of the financial statements are set out below and

have remained unchanged from the previous year and also have been consistently applied within the same

accounts.

These financial statements for the year ended 31 August 2017 are the first financial statements that comply

with FRS 102 Section 1A small entities.The date of transition is 1 September 2015.

The transition to FRS 102 Section 1A for small entities has resulted in no changes in the accounting policies.

The financial statements have been prepared under the historical cost convention.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

Company's personalised vehicle number plate

The company's personalised vehicle number plate has been capitalised and is being amortised evenly over its

estimated useful life of twenty years.

Tangible fixed assets

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

Improvements to property

-

5% on cost

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

30% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Revenue recognition

Revenue is recognised as earned when, and to the extent that, the company obtains the right to consideration

in exchange for the supply of goods and services that it provides. It is measured at the fair value of the right to

consideration, which represents amounts chargeable to customers.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2016 - 5 ) .

5.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 September 2016

and 31 August 2017

156,793

250

157,043

AMORTISATION

At 1 September 2016

101,920

25

101,945

Charge for year

7,840

13

7,853

At 31 August 2017

109,760

38

109,798

NET BOOK VALUE

At 31 August 2017

47,033

212

47,245

At 31 August 2016

54,873

225

55,098

6.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2016

80,056

Additions

1,324

Disposals

(11,600

)

At 31 August 2017

69,780

DEPRECIATION

At 1 September 2016

73,399

Charge for year

1,507

Eliminated on disposal

(11,600

)

At 31 August 2017

63,306

NET BOOK VALUE

At 31 August 2017

6,474

At 31 August 2016

6,657

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

53,990

56,694

Other debtors

5,844

6,422

59,834

63,116

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

3,859

8,034

Trade creditors

40,468

38,011

Taxation and social security

19,047

19,852

Other creditors

21,716

22,118

85,090

88,015

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Other creditors

45,000

25,000

10.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank overdrafts

3,859

7,987

Bank loans

-

47

3,859

8,034

The company's bankers have fixed and floating charges over the undertaking and all assets present and future.

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 August 2017 and

31 August 2016:

2017

2016

£

£

Mr A Sedman and Mrs S A Sedman

Balance outstanding at start of year

(43,945

)

(27,257

)

Amounts advanced

41,450

43,400

Amounts repaid

(60,000

)

(60,088

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(62,495

)

(43,945

)

The above loan is unsecured and the directors have agreed that £45,000 (2016: £25,000) of the loan will not be

requested for repayment within the next twelve months.

The above loan incurs interest at 4% per annum on a daily basis whilst it is overdrawn. The loan is interest free

whilst in credit.

During this year and the previous year the loan was never overdrawn.

12.	RELATED PARTY DISCLOSURES

During the year, total dividends of £60,000 (2016 - £60,000) were paid to the directors .