REGISTERED NUMBER: 06879318 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 April 2017

for

AAP Metal Fabrication Services Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

D W Close

W D Close

P V Bradley

SECRETARY:

P V Bradley

REGISTERED OFFICE:

2 Bedesway

Bede Industrial Estate

Jarrow

Tyne & Wear

NE32 3EG

REGISTERED NUMBER:

06879318 (England and Wales)

ACCOUNTANTS:

TTR Barnes Limited

Chartered Accountants

3-5 Grange Terrace

Stockton Road

Sunderland

Tyne & Wear

SR2 7DG

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

102,178

64,821

102,178

64,821

CURRENT ASSETS

Stocks

150,381

120,500

Debtors

6

680,813

450,345

Cash at bank and in hand

182,660

141,762

1,013,854

712,607

CREDITORS

Amounts falling due within one year

7

655,168

302,639

NET CURRENT ASSETS

358,686

409,968

TOTAL ASSETS LESS CURRENT LIABILITIES

460,864

474,789

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

9

460,764

474,689

SHAREHOLDERS' FUNDS

460,864

474,789

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2017 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 November 2017 and were signed on its behalf by:

P V Bradley - Director

1.	STATUTORY INFORMATION

AAP Metal Fabrication Services Ltd 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 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.

Reconciliation with previous generally accepted accounting practice

These financial statements for the year ended 30 April 2017 are the first financial statements that comply with

FRS 102 Section 1a "Small Entities" - "The Financial Reporting Standard applicable in the UK and Republic of

Ireland". The date of transition is 1 May 2015. In preparing the financial statements, the directors have

considered whether in applying the accounting policies required by FRS102 Section 1a "Small Entities", the

restatement of comparative items was required. The transition to FRS102 Section 1a "Small Entities" has

resulted in a small number of changes in accounting policies to those previously used . The nature of these

changes and their impact on the opening equity and profit for the comparative period are explained in note 11.

Turnover

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

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on cost

Fixtures and fittings

-

33% on cost

Motor vehicles

-

20% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial

instruments. Basic financial instruments are recognised at transaction value and subsequently measured at their

settlement value.

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 statement of financial position date.

Deferred tax

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

statement of financial position 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

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

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2016

and 30 April 2017

1,000

AMORTISATION

At 1 May 2016

and 30 April 2017

1,000

NET BOOK VALUE

At 30 April 2017

-

At 30 April 2016

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2016

201,722

Additions

58,702

Disposals

(2,239

)

At 30 April 2017

258,185

DEPRECIATION

At 1 May 2016

136,901

Charge for year

19,501

Eliminated on disposal

(395

)

At 30 April 2017

156,007

NET BOOK VALUE

At 30 April 2017

102,178

At 30 April 2016

64,821

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

623,415

402,919

Other debtors

770

-

Prepayments

56,628

47,426

680,813

450,345

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other loans

130,000

-

Trade creditors

414,670

232,965

Social security and other taxes

88,324

54,233

Other creditors

-

308

Accrued expenses

22,174

15,133

655,168

302,639

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

£1

100

100

9.

RESERVES

Retained

earnings

£

At 1 May 2016

474,689

Deficit for the year

(13,925

)

At 30 April 2017

460,764

10.	FIRST YEAR ADOPTION

Upon adoption of FRS 102, the following shows changes which have been made to previous years accounts:

Reconciliation of Equity

As at 01 May 2015

As at 30 April 2016

Reserves as previously stated

850,012

483,090

Short-term compensated absences

(7,840

)

(8,401

)

Reserves as restated

842,262

474,689

Reconciliation of profit or loss for the year

Year ended 30 April 2016

Profit/(Loss) for the year as previously stated

(367,573

)

Short-term compensated absences

(561

)

Profit/(Loss) for the year as restated

367,573

In order to comply with the requirements of FRS102 the short term compensated absences relates to holiday pay

accruals not previously included in the comparative periods.

Transitional relief

On the transition to FRS102, the entity did not take advantage of any transitional relief.