REGISTERED NUMBER: 05124367 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2018

for

AAM & Sons Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr A A Mehegan

Mrs A Mehegan

REGISTERED OFFICE:

Cheeky Monkees Day Nursery

161 Durham Road

Stockton on Tees

Cleveland

TS19 0DS

REGISTERED NUMBER:

05124367 (England and Wales)

ACCOUNTANTS:

Davies Tracey

Chartered Accountants and Business Advisers

Swan House

Westpoint Road

Teesdale Business Park

Stockton on Tees

TS17 6BP

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

711,652

705,390

711,652

705,390

CURRENT ASSETS

Debtors

1,138

1,634

Cash at bank

199,797

65,042

200,935

66,676

CREDITORS

Amounts falling due within one year

127,697

128,669

NET CURRENT ASSETS/(LIABILITIES)

73,238

(61,993

)

TOTAL ASSETS LESS CURRENT LIABILITIES

784,890

643,397

CREDITORS

Amounts falling due after more than one year

6

(113,921

)

(58,231

)

PROVISIONS FOR LIABILITIES

(6,029

)

(9,402

)

NET ASSETS

664,940

575,764

CAPITAL AND RESERVES

Allotted, called up and fully paid share capital

2

2

Retained earnings

664,938

575,762

SHAREHOLDERS' FUNDS

664,940

575,764

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2018 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 May 2018 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 6 November 2018 and were signed on its behalf by:

Mr A A Mehegan - Director

Mrs A Mehegan - Director

1.	STATUTORY INFORMATION

AAM & Sons Limited is a private company, limited by shares , registered in England and Wales. 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.

Turnover

Turnover represents income receivable from the provision of childcare. This is not subject to VAT.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of ten years.

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

not provided

Plant and machinery etc

-

25 - 33% on cost, 25% on reducing balance and 15% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire

purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over

their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the

future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The

capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account at a

constant rate of charge on the balance of capital repayments outstanding.

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.

Government grants

Government grants received are treated as deferred credits and credited to the profit and loss account over the estimated

useful life of the relevant asset.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 57 (2017 - 60 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2017

and 31 May 2018

40,000

AMORTISATION

At 1 June 2017

and 31 May 2018

40,000

NET BOOK VALUE

At 31 May 2018

-

At 31 May 2017

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2017

820,480

Additions

31,144

Disposals

(18,964

)

At 31 May 2018

832,660

DEPRECIATION

At 1 June 2017

115,090

Charge for year

21,255

Eliminated on disposal

(15,337

)

At 31 May 2018

121,008

NET BOOK VALUE

At 31 May 2018

711,652

At 31 May 2017

705,390

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

Additions

27,799

At 31 May 2018

27,799

DEPRECIATION

Charge for year

2,907

At 31 May 2018

2,907

NET BOOK VALUE

At 31 May 2018

24,892

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2018

2017

£

£

Repayable by instalments

Bank loans more 5 yr by instal

-

12,517

7.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans

130,966

68,780

8.	OTHER FINANCIAL COMMITMENTS

Total financial commitments which are not included in the balance sheet amount to £49,500 (2017 - £65,100) relating to

amounts payable under operating leases.