A & D Electrics Limited

Contents
	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

Registered number: 3431203

		2017		2016
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		10,115		12,655

			10,115		12,655
CURRENT ASSETS
Debtors	5	3,674		148
Cash at bank and in hand		40,746		40,335

		44,420		40,483
Creditors: Amounts Falling Due Within One Year	6	(42,239 )		(34,056 )

NET CURRENT ASSETS (LIABILITIES)			2,181		6,427

TOTAL ASSETS LESS CURRENT LIABILITIES			12,296		19,082

PROVISIONS FOR LIABILITIES
Deferred Taxation			(1,995 )		(2,494 )

NET ASSETS			10,301		16,588

CAPITAL AND RESERVES
Called up share capital	8		2		2
Profit and Loss Account			10,299		16,586

SHAREHOLDERS' FUNDS			10,301		16,588

Page 1

Balance Sheet (continued)

As at 30 September 2017

For the year ending 30 September 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Adam Knight

18th June 2018

1. Accounting Policies

1.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

1.2. Turnover

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 is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

1.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25% written down value
Motor Vehicles	20% written down value
Fixtures & Fittings	25% written down value

1.4. Leasing and Hire Purchase Contracts

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.

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A & D Electrics Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2017

1.5. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

2. Average Number of Employees

Average number of employees, including directors, during the year was as follows:

4. Tangible Assets


	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£
Cost
As at 1 October 2016	3,395	15,920	2,795	22,110

As at 30 September 2017	3,395	15,920	2,795	22,110

Depreciation
As at 1 October 2016	3,283	3,450	2,722	9,455
Provided during the period	28	2,494	18	2,540

As at 30 September 2017	3,311	5,944	2,740	11,995

Net Book Value
As at 30 September 2017	84	9,976	55	10,115

As at 1 October 2016	112	12,470	73	12,655

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A & D Electrics Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2017

5. Debtors

	2017	2016
	£	£
Due within one year
Trade debtors	3,674	148

	3,674	148

6. Creditors: Amounts Falling Due Within One Year

	2017	2016
	£	£
Net obligations under finance lease and hire purchase contracts	3,454	7,222
Trade creditors	567	1,535
Corporation tax	2,953	1,690
Other taxes and social security	1,121	668
VAT	6,748	3,771
Credit Card Control	3,627	1,233
Pension Control Account	87	224
Accruals and deferred income	920	920
Director's loan account	22,762	16,793

	42,239	34,056

7. Obligations Under Finance Leases and Hire Purchase

	2017	2016
	£	£
The maturity of these amounts is as follows:
Amounts Payable:
Within one year	3,454	7,222

	3,454	7,222

	3,454	7,222

8. Share Capital

	2017		2016
Allotted, Called up and fully paid	2		2

Page 5

A & D Electrics Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2017

9. Dividends

	2017	2016
	£	£
On equity shares:
Interim dividend paid	16,500	8,000

	16,500	8,000

10. General Information

A & D Electrics Limited is a private company, limited by shares, incorporated in England & Wales, registered number 3431203. The registered office is The Court, The Street, Charmouth, Dorset, DT6 6PE.

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