A & J Property Maintenance Ltd Company Accounts

COMPANY REGISTRATION NUMBER: 05904413

A & J Property Maintenance Ltd

Filleted Unaudited Financial Statements

31 March 2017

A & J Property Maintenance Ltd

Financial Statements

Year ended 31 March 2017

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

The following pages do not form part of the financial statements

Chartered accountants report to the director on the preparation of the unaudited statutory financial statements	8

A & J Property Maintenance Ltd

Statement of Financial Position

31 March 2017

	2017		2016
Note	£	£	£

Fixed assets

Tangible assets	5		–	5,931

Current assets

Debtors	6	1,797	4,636
Cash at bank and in hand		2,304	2,692
		-------	-------
		4,101	7,328

Creditors: amounts falling due within one year	7	6,008		14,014
		-------		--------
Net current liabilities			1,907	6,686
			-------	-------
Total assets less current liabilities			( 1,907)	( 755)
			-------	----
Net liabilities			( 1,907)	( 755)
			-------	----

Capital and reserves

Called up share capital	1,000	1,000
Profit and loss account	( 2,907)	( 1,755)
	-------	-------
Shareholders deficit	( 1,907)	( 755)
	-------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

A & J Property Maintenance Ltd

Statement of Financial Position (continued)

31 March 2017

These financial statements were approved by the board of directors and authorised for issue on 20 December 2017 , and are signed on behalf of the board by:

Mr A N Curry
Director

Company registration number: 05904413

A & J Property Maintenance Ltd

Notes to the Financial Statements

Year ended 31 March 2017

1. General information

The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Oakley House, Tetbury Road, Cirencester, Gloucestershire, GL7 1US.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 April 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 9.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

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

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	20% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Motor vehicles	-	25% straight line
Equipment	-	25% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.

4. Intangible assets

	Goodwill
	£
Cost
At 1 April 2016 and 31 March 2017	9,000
	-------
Amortisation
At 1 April 2016 and 31 March 2017	9,000
	-------
Carrying amount
At 31 March 2017	–
	-------
At 31 March 2016	–
	-------

5. Tangible assets

	Motor vehicles	Equipment	Total
	£	£	£
Cost
At 1 April 2016	14,900	34,950	49,850
Disposals	( 14,900)	( 34,950)	( 49,850)
	--------	--------	--------
At 31 March 2017	–	–	–
	--------	--------	--------
Depreciation
At 1 April 2016	14,900	29,019	43,919
Charge for the year	–	2,257	2,257
Disposals	( 14,900)	( 31,276)	( 46,176)
	--------	--------	--------
At 31 March 2017	–	–	–
	--------	--------	--------
Carrying amount
At 31 March 2017	–	–	–
	--------	--------	--------
At 31 March 2016	–	5,931	5,931
	--------	--------	--------

6. Debtors

	2017	2016
	£	£
Trade debtors	1,797	3,760
Other debtors	–	876
	-------	-------
	1,797	4,636
	-------	-------

7. Creditors: amounts falling due within one year

	2017	2016
	£	£
Corporation tax	305	–
Other creditors	5,703	14,014
	-------	--------
	6,008	14,014
	-------	--------

8. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	2017
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
Mr A N Curry	( 14,537)	9,934	( 4,603)
	--------	-------	-------

	2016
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
Mr A N Curry	( 13,912)	( 625)	( 14,537)
	--------	----	--------

9. Transition to FRS 102

These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 April 2015.

No transitional adjustments were required in equity or profit or loss for the year.

A & J Property Maintenance Ltd

Management Information

Year ended 31 March 2017

The following pages do not form part of the financial statements.

A & J Property Maintenance Ltd

Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of A & J Property Maintenance Ltd

Year ended 31 March 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of A & J Property Maintenance Ltd for the year ended 31 March 2017, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of A & J Property Maintenance Ltd in accordance with the terms of our engagement letter dated 23 December 2011. Our work has been undertaken solely to prepare for your approval the financial statements of A & J Property Maintenance Ltd and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than A & J Property Maintenance Ltd and its director for our work or for this report.

It is your duty to ensure that A & J Property Maintenance Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of A & J Property Maintenance Ltd. You consider that A & J Property Maintenance Ltd 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 financial statements of A & J Property Maintenance Ltd. 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 financial statements.

McGILLS Chartered Accountants

Oakley House Tetbury Road Cirencester Gloucestershire GL7 1US

20 December 2017