REGISTERED NUMBER: 03027244 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2018

FOR

A & D DOOR SYSTEMS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A G Holt

Mrs D S Holt

B J Knowles

SECRETARY:

Mrs D S Holt

REGISTERED OFFICE:

13b Willan Trading Estate

55 Waverley Road

Sale

Greater Manchester

M33 7AY

REGISTERED NUMBER:

03027244 (England and Wales)

ACCOUNTANTS:

Howard Worth

Drake House

Gadbrook Park

Northwich

Cheshire

CW9 7RA

BANKERS:

Barclays Bank Plc

Park Road

Timperley

Altrincham

Cheshire

FIXED ASSETS

Tangible assets

4

81,295

48,360

CURRENT ASSETS

Stocks

5

5,250

6,100

Debtors

6

179,813

204,712

Cash at bank and in hand

37,603

33,602

222,666

244,414

CREDITORS

Amounts falling due within one year

7

105,562

131,216

NET CURRENT ASSETS

117,104

113,198

TOTAL ASSETS LESS CURRENT LIABILITIES

198,399

161,558

CREDITORS

Amounts falling due after more than one year

8

(34,961

)

(10,862

)

PROVISIONS FOR LIABILITIES

10

(1,141

)

(5,303

)

NET ASSETS

162,297

145,393

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

162,295

145,391

SHAREHOLDERS' FUNDS

162,297

145,393

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 7 September 2018 and were signed on its behalf by:

B J Knowles - Director

1.	STATUTORY INFORMATION

A & D Door Systems 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover represents the value of installation work provided during the period excluding VAT.

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.

Improvements to property

-

10% on reducing balance

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

33% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

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

obsolete and slow moving items.

Financial instruments

FINANCIAL ASSETS

Trade, group and other debtors

Trade, group and other debtors (including accrued income) which are receivable within one year and

which do not constitute a financing transaction are initially measured at the transaction price and

subsequently measured at amortised cost, being the transaction price less any amounts settled and

any impairment losses.

A provision for impairment of trade debtors is established where there is objective evidence that the

amounts due will not be collected according to the original terms of the contract. Impairment losses

are recognised in profit or loss for the excess of the carrying value of the trade debtor over the present

value of the future cash flows discounted using the original effective interest rate. Subsequent

reversals of an impairment loss that objectively relate to an event occurring after the impairment loss

was recognised, are recognised immediately in profit or loss.

FINANCIAL LIABILITIES

Trade, group and other creditors

Trade, group and other creditors (including accruals) payable within one year that do not constitute a

financing transaction are initially measured at the transaction price and subsequently measured at

amortised cost, being transaction price less any amounts settled.

Derecognition of financial assets and liabilities

A financial asset is only derecognised when the contractual rights to cash flows expire or are settled, or

substantially all the risks and rewards of ownership are transferred to another party, or if some

significant risks and rewards of ownership are retained but control of the asset has transferred to

another party that is able to sell the asset in its entirety to an unrelated third party. A financial liability

(or part thereof) is derecognised when the obligation specified in the contract is discharged, cancelled

or expires.

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.

An asset and corresponding liability are recognised for leasing agreements that transfer to the

Company substantially all of the risk and rewards incidental to ownership ("finance leases"). The

amount capitalised is the fair value of the leased asset or, if lower, the present value of the minimum

lease payments payable during the lease term, both determined at inception of the lease. Lease

payments are treated as consisting of capital and interest elements. The interest is charged to profit or

loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Contingent rents are expensed as incurred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2017 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 March 2017

4,555

5,050

29,056

133,280

171,941

Additions

6,844

-

3,180

73,902

83,926

Disposals

-

-

-

(60,639

)

(60,639

)

At 28 February 2018

11,399

5,050

32,236

146,543

195,228

DEPRECIATION

At 1 March 2017

456

4,014

26,535

92,576

123,581

Charge for year

1,139

156

1,900

22,270

25,465

Eliminated on disposal

-

-

-

(35,113

)

(35,113

)

At 28 February 2018

1,595

4,170

28,435

79,733

113,933

NET BOOK VALUE

At 28 February 2018

9,804

880

3,801

66,810

81,295

At 28 February 2017

4,099

1,036

2,521

40,704

48,360

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

Motor

vehicles

£

COST

At 1 March 2017

62,949

Additions

53,700

Disposals

(14,879

)

At 28 February 2018

101,770

DEPRECIATION

At 1 March 2017

46,362

Charge for year

13,852

At 28 February 2018

60,214

NET BOOK VALUE

At 28 February 2018

41,556

At 28 February 2017

16,587

5.

STOCKS

28/2/18

28/2/17

£

£

Stocks

5,250

6,100

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28/2/18

28/2/17

£

£

Trade debtors

178,371

186,319

Prepayments

1,442

18,393

179,813

204,712

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28/2/18

28/2/17

£

£

Hire purchase contracts

17,565

13,049

Trade creditors

43,809

50,029

Taxation

12,468

26,335

Social security and other taxes

2,271

9,586

Net wages

(2,217

)

-

Pensions

304

-

VAT

23,046

25,307

Other creditors

4,615

4,008

Directors' current accounts

1,726

654

Accrued expenses

1,975

2,248

105,562

131,216

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28/2/18

28/2/17

£

£

Hire purchase contracts

34,961

10,862

9.	SECURED DEBTS

The following secured debts are included within creditors:

28/2/18

28/2/17

£

£

Hire purchase contracts

52,526

23,911

The hire purchase liabilities are secured on the assets to which they relate.

10.	PROVISIONS FOR LIABILITIES

28/2/18

28/2/17

£

£

Deferred tax

1,141

5,303

Deferred

tax

£

Balance at 1 March 2017

5,303

movement in the year

(4,162

)

Balance at 28 February 2018

1,141

11.	RELATED PARTY DISCLOSURES

During the year, total dividends of £55,000 were paid to the directors .

At 28 February 2018 the Company owed £1726 to a director. No interest has been charged to the

Company in respect of this loan which is repayable on demand and classified in creditors due within

one year.

12.	ULTIMATE CONTROLLING PARTY

There is no individual ultimate controlling party.