Accountants

Francis Clark LLP Chartered Accountants Francis Clark Lowin House Tregolls Road Truro Cornwall TR1 2NA

Page 1

A & T Services Limited

Balance Sheet

31 December 2017

	Note	2017 £	2016 £
Fixed assets
Tangible assets	4	325,996	341,882
Current assets
Stocks	5	244,165	233,157
Debtors	6	526,097	494,593
Cash at bank and in hand		94,537	55,042
		864,799	782,792
Creditors: Amounts falling due within one year	7	(452,938)	(355,922)
Net current assets		411,861	426,870
Total assets less current liabilities		737,857	768,752
Creditors: Amounts falling due after more than one year	7	(222,553)	(247,473)
Provisions for liabilities		(30,701)	(31,175)
Net assets		484,603	490,104
Capital and reserves
Called up share capital		5,614	5,614
Capital redemption reserve		4,386	4,386
Profit and loss account		474,603	480,104
Total equity		484,603	490,104

The notes on pages 4 to 9 form an integral part of these financial statements.

Page 2

A & T Services Limited

Balance Sheet

31 December 2017

For the financial year ending 31 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 4 April 2018 and signed on its behalf by:
 

.........................................

T J Richards

Director

Company Registration Number: 02570142

The notes on pages 4 to 9 form an integral part of these financial statements.

Page 3

A & T Services Limited

Notes to the Financial Statements

Year Ended 31 December 2017

1	General information

The company is a private company limited by share capital incorporated in England and Wales.

The address of its registered office is:
Lowin House
Tregolls Road
Truro
Cornwall
TR1 2NA

These financial statements were authorised for issue by the Board on 4 April 2018.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost or valuation of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Land and Buildings	Straight line over 50 years
Plant and machinery	15% and 33% per annum, reducing balance
Motor vehicles	25% per annum, reducing balance

Page 4

A & T Services Limited

Notes to the Financial Statements

Year Ended 31 December 2017

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Page 5

A & T Services Limited

Notes to the Financial Statements

Year Ended 31 December 2017

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Bank loans;
• Cash and bank balances; and
• Invoice discounting arrangement

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.


 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 43 (2016 - 43).

Page 6

A & T Services Limited

Notes to the Financial Statements

Year Ended 31 December 2017

4	Tangible assets

	Freehold Land and buildings £	Motor vehicles  £	Other property, plant and equipment  £	Total £
Cost or valuation
At 1 January 2017	127,970	429,025	202,820	759,815
Additions	-	48,239	10,297	58,536
Disposals	-	(17,300)	-	(17,300)
At 31 December 2017	127,970	459,964	213,117	801,051
Depreciation
At 1 January 2017	28,973	250,455	138,505	417,933
Charge for the year	1,706	54,772	15,635	72,113
Eliminated on disposal	-	(14,991)	-	(14,991)
At 31 December 2017	30,679	290,236	154,140	475,055
Carrying amount
At 31 December 2017	97,291	169,728	58,977	325,996
At 31 December 2016	98,997	178,570	64,315	341,882

5

Stocks

	2017 £	2016 £
Work in progress	99,311	81,613
Other inventories	144,854	151,544
	244,165	233,157

6

Debtors

	2017  £	2016  £
Trade debtors	486,750	469,779
Other debtors	30,226	21,308
Prepayments	9,121	3,506
	526,097	494,593

Page 7

A & T Services Limited

Notes to the Financial Statements

Year Ended 31 December 2017

7

Creditors

	Note	2017  £	2016  £
Due within one year
Loans and borrowings	8	76,652	57,071
Trade creditors		172,389	155,006
Social security and other taxes		100,421	97,368
Outstanding defined contribution pension costs		1,262	1,393
Other creditors		62,062	-
Accrued expenses		20,414	22,589
Corporation tax		19,738	22,495
		452,938	355,922
Due after one year
Loans and borrowings	8	222,553	247,473