Ark Electrical Services Ltd - Filleted accounts

Registered number

05303633

Ark Electrical Services Ltd

Filleted Abridged Accounts

31 December 2017

Ark Electrical Services Ltd
Registered number:		05303633
Abridged Balance Sheet
as at 31 December 2017

Notes			2017			2016
£				£
Fixed assets
Tangible assets	2		806,693			812,299
Investments	3		294,882			294,882
			1,101,575			1,107,181

Current assets
Stocks		88,267			83,672
Debtors		529,808			553,378
Cash at bank and in hand		558,953			491,898
		1,177,028			1,128,948
Creditors: amounts falling due within one year		(402,680)			(428,949)

Net current assets			774,348			699,999

Total assets less current liabilities			1,875,923			1,807,180

Creditors: amounts falling due after more than one year			(411,858)			(456,958)

Provisions for liabilities - deferred tax			-			(333)

Net assets			1,464,065			1,349,889

Capital and reserves
Called up share capital			100			100
Profit and loss account			1,463,965			1,349,789

Shareholders' funds			1,464,065			1,349,889

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.




M J Koyce
Director
Approved by the board on 28 September 2018

Ark Electrical Services Ltd
Notes to the Abridged Accounts
for the year ended 31 December 2017


1	Accounting policies

	Basis of preparation
	The abridged accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Fixtures and fittings	20% reducing balance
	Fixtures and fittings integral to building	16.66% straight line
	Computer equipment	33.33% straight line
	Motor vehicles	25% reducing balance

	Investments
	Investments consist of leasehold residential property measured at cost.

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

2	Tangible fixed assets
					Total
£
	Cost
	At 1 January 2017				843,985
	At 31 December 2017				843,985

	Depreciation
	At 1 January 2017				31,686
	Charge for the year				5,606
	At 31 December 2017				37,292

	Net book value
	At 31 December 2017				806,693
	At 31 December 2016				812,299


3	Investments				Total
	Leasehold residential property				£
	Cost
	At 1 January 2017				294,882

	At 31 December 2017				294,882


4	Loans		2017		2016
£				£
	Creditors include:

	Secured bank loans		312,463		356,708

	The Company has provided fixed and floating charges over its assets in order to maintain loan facilities.


5	Other information

	Ark Electrical Services Ltd is a private company limited by shares and incorporated in England. Its registered office is: 448 Uxbridge Rd, Hayes, Middx, UK, UB4 0SD.