Acorah Software Products - Accounts Production 9.0.001 false 1 August 2017 31 July 2018 31 July 2018 05105499 Mr Andrew Reynolds Mr Stephen Haynes iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05105499 2017-07-31 05105499 2018-07-31 05105499 2017-08-01 2018-07-31 05105499 frs-core:CurrentFinancialInstruments 2018-07-31 05105499 frs-core:CurrentFinancialInstruments 2017-08-01 2018-07-31 05105499 frs-core:Non-currentFinancialInstruments 2018-07-31 05105499 frs-core:Non-currentFinancialInstruments 2017-08-01 2018-07-31 05105499 frs-core:CurrentFinancialInstruments 2017-08-01 2018-07-31 05105499 frs-core:CurrentFinancialInstruments 2018-07-31 05105499 frs-core:AfterOneYear 2017-08-01 2018-07-31 05105499 frs-core:BetweenOneFiveYears 2017-08-01 2018-07-31 05105499 frs-core:BetweenOneFiveYears 2018-07-31 05105499 frs-core:ComputerEquipment 2018-07-31 05105499 frs-core:ComputerEquipment 2017-08-01 2018-07-31 05105499 frs-core:ComputerEquipment 2017-07-31 05105499 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Registered number: 05105499
A & S Motors (Willenhall) Limited
Unaudited Financial Statements
For The Year Ended 31 July 2018
Corke & Co

Accountants

4 Woundale
Bridgnorth
Shropshire
WV15 5PR
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Balance Sheet
Registered number: 05105499
2018 2017
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 16,049 19,666
16,049 19,666
CURRENT ASSETS
Stocks 6 7,500 7,600
Debtors 7 6,620 6,142
Cash at bank and in hand 941 3,361
15,061 17,103
Creditors: Amounts Falling Due Within One Year 8 (29,523 ) (35,968 )
NET CURRENT ASSETS (LIABILITIES) (14,462 ) (18,865 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,587 801
PROVISIONS FOR LIABILITIES
Deferred Taxation (303 ) (633 )
NET ASSETS 1,284 168
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account 1,282 166
SHAREHOLDERS' FUNDS 1,284 168
Page 1
For the year ending 31 July 2018 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 in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
  • The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Andrew Reynolds
27/04/2019

The notes on pages 3 to 5 form part of these financial statements.
Page 2
Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
1.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
1.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% reducing balance
1.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
1.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
3. Average Number of Employees
Average number of employees, including directors, during the year was as follows:
2018 2017
Office and administration 2 2
Workshop 2 2
4 4
Page 3
4. Intangible Assets
Goodwill
£
Cost
As at 1 August 2017 16,000
As at 31 July 2018 16,000
Amortisation
As at 1 August 2017 16,000
As at 31 July 2018 16,000
Net Book Value
As at 31 July 2018 -
As at 1 August 2017 -
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 August 2017 34,535 18,908 11,661 65,104
As at 31 July 2018 34,535 18,908 11,661 65,104
Depreciation
As at 1 August 2017 24,931 12,220 8,287 45,438
Provided during the period 1,440 1,671 506 3,617
As at 31 July 2018 26,371 13,891 8,793 49,055
Net Book Value
As at 31 July 2018 8,164 5,017 2,868 16,049
As at 1 August 2017 9,604 6,688 3,374 19,666
6. Stocks
2018 2017
£ £
Stock - work in progress 7,500 7,600
7,500 7,600
Page 4
7. Debtors
2018 2017
£ £
Due within one year
Trade debtors 6,395 1,895
Prepayments and accrued income 225 240
Directors' loan accounts - 4,007
6,620 6,142
8. Creditors: Amounts Falling Due Within One Year
2018 2017
£ £
Trade creditors 12,562 11,572
Bank loans and overdrafts 2,596 14,528
Corporation tax 7,656 5,237
Other taxes and social security 370 318
VAT 5,195 3,203
Accruals and deferred income 1,135 1,110
Directors' loan accounts 9 -
29,523 35,968
9. Share Capital
2018 2017
Allotted, Called up and fully paid 2 2
Value Number 2018 2017
Allotted, called up and fully paid £ £ £
Ordinary shares 1 2 2 2
10. General Information
A & S Motors (Willenhall) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05105499. The registered office is 4 Woundale, Bridgnorth, Shropshire, WV15 5PR.
Page 5