REGISTERED NUMBER: 06740223 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

FOR

AAC POWER SOLUTIONS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D N Atkinson

G J Carsey

SECRETARY:

D Carsey

REGISTERED OFFICE:

Medina House

2 Station Avenue

Bridlington

East Yorkshire

YO16 4LZ

REGISTERED NUMBER:

06740223 (England and Wales)

ACCOUNTANTS:

Lloyd Dowson Limited

Medina House

2 Station Avenue

Bridlington

East Yorkshire

YO16 4LZ

FIXED ASSETS

Intangible assets

4

6,226

6,854

Tangible assets

5

131,780

170,865

138,006

177,719

CURRENT ASSETS

Stocks

1,475

1,410

Debtors

6

7,256

37,578

Cash at bank and in hand

128,714

147,833

137,445

186,821

CREDITORS

Amounts falling due within one year

7

63,323

79,302

NET CURRENT ASSETS

74,122

107,519

TOTAL ASSETS LESS CURRENT LIABILITIES

212,128

285,238

CREDITORS

Amounts falling due after more than one year

8

(10,136

)

(5,338

)

PROVISIONS FOR LIABILITIES

(25,020

)

(32,501

)

NET ASSETS

176,972

247,399

CAPITAL AND RESERVES

Called up share capital

10

54,000

60,000

Capital redemption reserve

11

6,000

-

Retained earnings

11

116,972

187,399

SHAREHOLDERS' FUNDS

176,972

247,399

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 10 April 2019 and were signed on its behalf by:

D N Atkinson - Director

G J Carsey - Director

1.	STATUTORY INFORMATION

AAC Power Solutions 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes, and is derived from electrical installations.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

15% on cost

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on cost

Computer equipment

-

33% 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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

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

lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2017 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2018

and 31 December 2018

12,553

AMORTISATION

At 1 January 2018

5,699

Charge for year

628

At 31 December 2018

6,327

NET BOOK VALUE

At 31 December 2018

6,226

At 31 December 2017

6,854

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2018

458,817

Additions

30,721

Disposals

(19,999

)

At 31 December 2018

469,539

DEPRECIATION

At 1 January 2018

287,952

Charge for year

68,556

Eliminated on disposal

(18,749

)

At 31 December 2018

337,759

NET BOOK VALUE

At 31 December 2018

131,780

At 31 December 2017

170,865

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 January 2018

and 31 December 2018

22,744

DEPRECIATION

At 1 January 2018

8,296

Charge for year

5,686

At 31 December 2018

13,982

NET BOOK VALUE

At 31 December 2018

8,762

At 31 December 2017

14,448

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade debtors

292

30,712

Other debtors

6,964

6,866

7,256

37,578

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Hire purchase contracts

6,747

4,531

Trade creditors

6,393

5,271

Taxation and social security

41,346

61,451

Other creditors

8,837

8,049

63,323

79,302

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.18

31.12.17

£

£

Hire purchase contracts

10,136

5,338

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.18

31.12.17

£

£

Hire purchase contracts

16,883

9,869

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.18

31.12.17

value:

£

£

54,000

Ordinary shares

£1

54,000

60,000

During the year, the company bought back and then cancelled 6,000 ordinary £1 shares.

11.

RESERVES

Capital

Retained

redemption

earnings

reserve

Totals

£

£

£

At 1 January 2018

187,399

-

187,399

Profit for the year

136,213

136,213

Dividends

(150,000

)

(150,000

)

Purchase of own shares

(56,640

)

6,000

(50,640

)

At 31 December 2018

116,972

6,000

122,972