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Registration number: 06675617

A & J Services (Spalding) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2018

 

A & J Services (Spalding) Limited

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 6

 

A & J Services (Spalding) Limited

(Registration number: 06675617)
Balance Sheet as at 31 August 2018

Note

2018
£

2017
£

Fixed assets

 

Tangible assets

4

469,619

341,523

Current assets

 

Stocks

5

132,000

28,976

Debtors

6

699,323

790,525

Cash at bank and in hand

 

549,410

487,942

 

1,380,733

1,307,443

Creditors: Amounts falling due within one year

7

(556,592)

(564,496)

Net current assets

 

824,141

742,947

Total assets less current liabilities

 

1,293,760

1,084,470

Creditors: Amounts falling due after more than one year

7

(71,154)

(50,980)

Provisions for liabilities

(40,441)

(24,509)

Net assets

 

1,182,165

1,008,981

Capital and reserves

 

Called up share capital

1,100

1,100

Capital redemption reserve

(114,900)

(114,900)

Profit and loss account

1,295,965

1,122,781

Total equity

 

1,182,165

1,008,981

For the financial year ending 31 August 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 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.

For the financial year ending 31 August 2018 the company was entitled to exemption from audit under section 479A of the Companies Act 2006 relating to subsidiary 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 prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

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.

 

A & J Services (Spalding) Limited

(Registration number: 06675617)
Balance Sheet as at 31 August 2018

Approved and authorised by the Board on 2 April 2019 and signed on its behalf by:
 


J A Taylor
Director


S G Edgeley
Director


A Cook
Director

 

A & J Services (Spalding) Limited

Notes to the Financial Statements for the Year Ended 31 August 2018

1

General information

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

The address of its registered office is:
1 - 4 London Road
Spalding
Lincolnshire
PE11 2TA
England

These financial statements were authorised for issue by the Board on 2 April 2019.

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 of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% reducing balance

Motor vehicles

25% reducing balance

Office equipment

20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

A & J Services (Spalding) Limited

Notes to the Financial Statements for the Year Ended 31 August 2018

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 inventories 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

 

A & J Services (Spalding) Limited

Notes to the Financial Statements for the Year Ended 31 August 2018

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 22 (2017 - 22).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 September 2017

183,161

15,881

234,334

22,525

455,901

Additions

1,977

13,017

188,517

27,939

231,450

Disposals

-

(3,174)

(82,905)

(2,555)

(88,634)

At 31 August 2018

185,138

25,724

339,946

47,909

598,717

Depreciation

At 1 September 2017

-

5,116

99,221

10,041

114,378

Charge for the year

-

3,602

57,387

4,074

65,063

Eliminated on disposal

-

(2,298)

(46,160)

(1,885)

(50,343)

At 31 August 2018

-

6,420

110,448

12,230

129,098

Carrying amount

At 31 August 2018

185,138

19,304

229,498

35,679

469,619

At 31 August 2017

183,161

10,765

135,113

12,484

341,523

Included within the net book value of land and buildings above is £185,138 (2017 - £183,161) in respect of freehold land and buildings.
 

5

Stocks

2018
£

2017
£

Work in progress

117,000

13,976

Other inventories

15,000

15,000

132,000

28,976

6

Debtors

Note

2018
£

2017
£

Trade debtors

 

638,231

780,015

Amounts owed by group undertakings

59,839

-

Other debtors

 

1,253

10,510

Total current trade and other debtors

 

699,323

790,525

 

A & J Services (Spalding) Limited

Notes to the Financial Statements for the Year Ended 31 August 2018

7

Creditors

Note

2018
£

2017
£

Due within one year

 

Loans and borrowings

8

25,240

6,488

Trade creditors

 

203,132

169,602

Amounts owed to group undertakings

-

63,698

Social security and other taxes

 

145,816

173,935

Other creditors

 

182,404

150,773

 

556,592

564,496

Due after one year

 

Loans and borrowings

8

71,154

50,980

8

Loans and borrowings

2018
£

2017
£

Current loans and borrowings

Bank borrowings

6,907

6,488

Finance lease liabilities

18,333

-

25,240

6,488

2018
£

2017
£

Non-current loans and borrowings

Bank borrowings

43,653

50,980

Finance lease liabilities

27,501

-

71,154

50,980

9

Parent and ultimate parent undertaking

The company's immediate parent is A & J Holdings (Spalding) Limited, incorporated in England and Wales.

 The ultimate controlling party is the directors and their close families.