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COMPANY REGISTRATION NUMBER: 07055578
A A Home Developments Limited
Filleted Unaudited Financial Statements
31 October 2017
A A Home Developments Limited
Financial Statements
year ended 31st October 2017
Contents
Pages
Officers and professional advisers
1
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements
2
Statement of financial position
3 to 4
Notes to the financial statements
5 to 7
A A Home Developments Limited
Officers and Professional Advisers
The board of directors
Mr A Albon
Mrs J Albon
Registered office
56 Spooners Drive
Park Street
St Albans
AL2 2HL
Accountants
Gilberts
Chartered Accountants
Pendragon House
65 London Road
St Albans
Hertfordshire
AL1 1LJ
A A Home Developments Limited
Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of A A Home Developments Limited
year ended 31st October 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of A A Home Developments Limited for the year ended 31st October 2017, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of A A Home Developments Limited, as a body, in accordance with the terms of our engagement letter dated 8th January 2015. Our work has been undertaken solely to prepare for your approval the financial statements of A A Home Developments Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than A A Home Developments Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that A A Home Developments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of A A Home Developments Limited. You consider that A A Home Developments Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of A A Home Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Gilberts Chartered Accountants
Pendragon House 65 London Road St Albans Hertfordshire AL1 1LJ
28 March 2018
A A Home Developments Limited
Statement of Financial Position
31 October 2017
2017
2016
Note
£
£
Fixed assets
Tangible assets
5
10,610
14,590
Current assets
Stocks
1,000
1,000
Debtors
6
–
2,746
Cash at bank and in hand
6,571
20,286
-------
--------
7,571
24,032
Creditors: amounts falling due within one year
7
16,998
31,251
--------
--------
Net current liabilities
9,427
7,219
--------
--------
Total assets less current liabilities
1,183
7,371
-------
-------
Net assets
1,183
7,371
-------
-------
Capital and reserves
Called up share capital
100
100
Profit and loss account
1,083
7,271
-------
-------
Shareholders funds
1,183
7,371
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31st October 2017 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
A A Home Developments Limited
Statement of Financial Position (continued)
31 October 2017
These financial statements were approved by the board of directors and authorised for issue on 28 March 2018 , and are signed on behalf of the board by:
Mr A Albon
Director
Company registration number: 07055578
A A Home Developments Limited
Notes to the Financial Statements
year ended 31st October 2017
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 56 Spooners Drive, Park Street, St Albans, AL2 2HL.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis and are prepared in sterling, which is the functional currency of the entity.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1st November 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 8.
Revenue recognition
Turnover is the total amount receivable by the company for goods and services provided, excluding value added tax and trade discounts.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2016: 3 ).
5. Tangible assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost
At 1st November 2016 and 31st October 2017
6,503
17,288
23,791
-------
--------
--------
Depreciation
At 1st November 2016
6,403
2,798
9,201
Charge for the year
25
3,955
3,980
-------
--------
--------
At 31st October 2017
6,428
6,753
13,181
-------
--------
--------
Carrying amount
At 31st October 2017
75
10,535
10,610
-------
--------
--------
At 31st October 2016
100
14,490
14,590
-------
--------
--------
6. Debtors
2017
2016
£
£
Trade debtors
–
2,742
Other debtors
–
4
----
-------
–
2,746
----
-------
7. Creditors: amounts falling due within one year
2017
2016
£
£
Bank loans and overdrafts
6,000
12,000
Corporation tax
1,877
3,912
Social security and other taxes
457
1,403
Other creditors
8,664
13,936
--------
--------
16,998
31,251
--------
--------
8. Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1st November 2015.
No transitional adjustments were required in equity or profit or loss for the year.