Registered number
A & C Copying Limited
Filleted Accounts
31 October 2017
A & C Copying Limited
Registered number: 03842185
Balance Sheet
as at 31 October 2017
Notes 2017 2016
£ £
Fixed assets
Tangible assets 3 267,136 273,136
Current assets
Stocks 1,750 1,750
Debtors 4 21,338 38,919
Cash at bank and in hand 2,384 2,382
25,472 43,051
Creditors: amounts falling due within one year 5 (122,743) (131,494)
Net current liabilities (97,271) (88,443)
Total assets less current liabilities 169,865 184,693
Creditors: amounts falling due after more than one year 6 (42,000) (57,961)
Net assets 127,865 126,732
Capital and reserves
Called up share capital 2 2
Profit and loss account 127,863 126,730
Shareholders' funds 127,865 126,732
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
CL Redmond
Approved by the board on 14 November 2017
A & C Copying Limited
Notes to the Accounts
for the year ended 31 October 2017
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2017 2016
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
At 1 November 2016 248,136 190,445 438,581
At 31 October 2017 248,136 190,445 438,581
At 1 November 2016 - 165,445 165,445
Charge for the year - 6,000 6,000
At 31 October 2017 - 171,445 171,445
Net book value
At 31 October 2017 248,136 19,000 267,136
At 31 October 2016 248,136 25,000 273,136
4 Debtors 2017 2016
£ £
Trade debtors 21,338 38,919
5 Creditors: amounts falling due within one year 2017 2016
£ £
Bank loans and overdrafts 16,160 17,535
Taxation and social security costs 14,285 26,829
Other creditors 92,298 87,130
122,743 131,494
6 Creditors: amounts falling due after one year 2017 2016
£ £
Bank loans 42,000 57,961
7 Loans 2017 2016
£ £
Creditors include:
Secured bank loans 56,940 72,901
The bank loan is secured on the leasehold propery.
8 Controlling party
The controlling parties are AJC Verrill and CL Redmond.
9 Other information
A & C Copying Limited is a private company limited by shares and incorporated in England. Its registered office is:
E1 Ascot Business Park
Lyndhurst Road
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