REGISTERED NUMBER: 03930564

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

A & Y CUMMING LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs Y Cumming

Mr A J W Cumming

SECRETARY:

Mrs Y Cumming

REGISTERED OFFICE:

4A Kingfisher Court

Brambleside

Bellbrook Business Park

Uckfield

East Sussex

TN22 1QQ

REGISTERED NUMBER:

03930564

ACCOUNTANTS:

Acuity Professional Ltd

Fifth Floor

11 Leadenhall Street

London

EC3V 1LP

FIXED ASSETS

Tangible assets

4

1,070

1,449

CURRENT ASSETS

Stocks

5

252,869

250,348

Debtors

6

6,829

8,375

Cash at bank and in hand

23,480

12,435

283,178

271,158

CREDITORS

Amounts falling due within one year

7

74,072

80,945

NET CURRENT ASSETS

209,106

190,213

TOTAL ASSETS LESS CURRENT LIABILITIES

210,176

191,662

PROVISIONS FOR LIABILITIES

62

76

NET ASSETS

210,114

191,586

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

210,014

191,486

SHAREHOLDERS' FUNDS

210,114

191,586

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 28 July 2017 and were signed on its behalf by:

Mr A J W Cumming - Director

1.	STATUTORY INFORMATION

A & Y Cumming Limited is a private company, limited by shares , registered in Not specified/Other. The

company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on the going concern basis on the basis of ongoing financial

support from the directors and fellow group companies and the continued availability of credit and banking

facilities.

The preparation of financial statements in conformity with FRS 102 section 1A requires the use of certain

critical accounting estimates. lt also requires management to exercise judgement in applying the company's

accounting policies.

Information on the impact of first-time adoption of FRS 102 section 1A is given in note 13. The following

principal accounting policies have been applied:

Accounting estimates and judgements

In preparing the financial statements, management were not required to make any estimates or judgements

which materially affect reported income, expenses, assets, liabilities or disclosure of contingent assets and

liabilities.

Turnover

Turnover represents the value of goods (net of VAT) provided to customers during the period.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

15% on reducing balance

Computer equipment

-

33% on cost

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12

'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the

contractual provisions of the instrument.

Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when

there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net

basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction

price including transaction costs and are subsequently carried at amortised cost using the effective interest

method unless the arrangement constitutes a financing transaction, where the transaction is measured at the

present value of the future receipts discounted at a market rate of interest. Financial assets classified as

receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual

arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets

of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies are initially

recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt

instrument is measured at the present value of the future payment ts discounted at a market rate of interest.

Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of

business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year

or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at

transaction price and subsequently measured at amortised cost using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2016 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

Cost

At 1 April 2016

and 31 March 2017

32,061

8,704

1,800

2,463

45,028

Depreciation

At 1 April 2016

31,623

7,984

1,648

2,324

43,579

Charge for year

109

108

23

139

379

At 31 March 2017

31,732

8,092

1,671

2,463

43,958

Net book value

At 31 March 2017

329

612

129

-

1,070

At 31 March 2016

438

720

152

139

1,449

5.

STOCKS

2017

2016

£

£

Stocks

252,869

250,348

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

1,883

2,570

Other debtors

1,004

1,063

Corporation Tax

1,157

1,157

VAT

182

1,246

Prepayments

2,603

2,339

6,829

8,375

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Taxation

7,228

-

Social security and other taxes

160

-

Directors' current accounts

64,014

78,285

Accruals and deferred income

2,670

2,660

74,072

80,945

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

£1

100

100

9.	RELATED PARTY DISCLOSURES

10.	CONTROLLING PARTY

The company was under the control of the directors throughout the current and previous year.

11.	FIRST YEAR ADOPTION

This was the first year that the company has presented its results under FRS 102 section 1A. The last financial

statements under FRSSE 2015 were for the year ended 31 March 2017. The date of transition to FRS 102

section 1A was 01 April 2016.

There is no impact on either the Profit and Loss account or the net assets of the company upon the transition to

FRS 102 section 1A.