REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2017 |
FOR |
A&A CONCRETE REPAIR LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2017 |
FOR |
A&A CONCRETE REPAIR LIMITED |
A&A CONCRETE REPAIR LIMITED (REGISTERED NUMBER: 05432065) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2017 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
A&A CONCRETE REPAIR LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MAY 2017 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Tax Advisers, Accountants |
and Business Consultants |
Unit 4 Brunel Buildings |
Brunel Road |
Newton Abbot |
Devon |
TQ12 4PB |
BANKERS: |
Barclays Bank |
Leicester |
LE87 2BB |
A&A CONCRETE REPAIR LIMITED (REGISTERED NUMBER: 05432065) |
BALANCE SHEET |
31 MAY 2017 |
2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Capital redemption reserve | ( |
) |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
A&A CONCRETE REPAIR LIMITED (REGISTERED NUMBER: 05432065) |
BALANCE SHEET - continued |
31 MAY 2017 |
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 signed on its behalf by: |
A&A CONCRETE REPAIR LIMITED (REGISTERED NUMBER: 05432065) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2017 |
1. | STATUTORY INFORMATION |
A&A Concrete Repair Limited is a |
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 |
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 |
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 |
Freehold property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance |
for obsolete and slow moving items. |
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 balance sheet date. |
A&A CONCRETE REPAIR LIMITED (REGISTERED NUMBER: 05432065) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2017 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not |
reversed at the balance sheet 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. |
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. |
Employee benefit trusts |
The Company has created trusts whose beneficiaries will include employees of the Company |
and their dependants. Assets held under this trust will be controlled by trustees who will be |
acting independently and entirely at their own authority. |
Where the Company retains future economic benefit from, and has de facto control of, the |
assets and liabilities of the trust they are accounted for as assets and liabilities of the |
Company until the earlier of the date that an allocation of trust funds to employees in respect |
of past services is declared and the date that assets of the trust vest in identified individuals. |
Where assets are held in a trust and have been assessed by the Company as a result of |
services provided by employees in the past to the Company and it can obtain no future |
economic benefit from these assets, they will be allocated to the Company's profit and loss |
account for the year to which they have arisen irrespective of whether they are physically |
held within the trust at that stage. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
A&A CONCRETE REPAIR LIMITED (REGISTERED NUMBER: 05432065) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2017 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 June 2016 |
and 31 May 2017 |
AMORTISATION |
At 1 June 2016 |
Amortisation for year |
At 31 May 2017 |
NET BOOK VALUE |
At 31 May 2017 |
At 31 May 2016 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
COST |
At 1 June 2016 |
Additions |
At 31 May 2017 |
DEPRECIATION |
At 1 June 2016 |
Charge for year |
At 31 May 2017 |
NET BOOK VALUE |
At 31 May 2017 |
At 31 May 2016 |
A&A CONCRETE REPAIR LIMITED (REGISTERED NUMBER: 05432065) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2017 |
5. | TANGIBLE FIXED ASSETS - continued |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 June 2016 |
Additions |
At 31 May 2017 |
DEPRECIATION |
At 1 June 2016 |
Charge for year |
At 31 May 2017 |
NET BOOK VALUE |
At 31 May 2017 |
At 31 May 2016 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
Amount recoverable on contract | 31,000 | 27,133 |
Directors' current accounts | 19,082 | 31,513 |
Prepayments |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
Tax |
Social security and other taxes |
VAT | 20,978 | 36,916 |
Other creditors |
Directors' current accounts | 177,317 | - |
Accrued expenses |
A&A CONCRETE REPAIR LIMITED (REGISTERED NUMBER: 05432065) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2017 |
8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended |
31 May 2017 and 31 May 2016: |
2017 | 2016 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
The loans are interest free and repayable on demand. |
9. | RELATED PARTY DISCLOSURES |
During the year, total dividends of £110,200 (2016 - £160,000) were paid to the directors . |
Purchase of own shares |
On 24 May 2017 the company purchased 40 A shares from the director Mr PG Ashton and 10 |
C shares from the secretary Mrs KT Ashton paying £170,000 in total for the shares to Mr & Mrs |
Ashton. |