A & I (Davies Bearings) Limited

Registered number

04371996

Unaudited Filleted Accounts

31 March 2017

A & I (Davies Bearings) Limited
Registered number:		04371996
Balance Sheet
as at 31 March 2017

Notes			2017			2016
£				£
Fixed assets
Tangible assets	3		1			1

Current assets
Stocks		300			300
Debtors	4	-			156
Cash at bank and in hand		420			1,311
		720			1,767

Creditors: amounts falling due within one year	5	(19,492)			(19,084)

Net current liabilities			(18,772)			(17,317)

Net liabilities			(18,771)			(17,316)

Capital and reserves
Called up share capital			2			2
Profit and loss account			(18,773)			(17,318)

Shareholders' funds			(18,771)			(17,316)

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Andrew Maclachlan
Director
Approved by the board on 11 December 2017

A & I (Davies Bearings) Limited
Notes to the Accounts
for the year ended 31 March 2017


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	First time adoption of FRS102
	These are A & I (Davies Bearings) Limited's first financial statements to comply with FRS102. The date of transition to FRS102 is 1 April 2015. In preparing the accounts, the directors have considered whether in applying the accounting policies required by FRS 102 the restatement of comparative items was required and determined no adjustments were needed.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery	20% straight line

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.


2	Employees		2017		2016
Number				Number

	Average number of persons employed by the company		2		2


3	Tangible fixed assets
					Plant and machinery etc
£
	Cost
	At 1 April 2016				75
	At 31 March 2017				75

	Depreciation
	At 1 April 2016				74
	At 31 March 2017				74

	Net book value
	At 31 March 2017				1
	At 31 March 2016				1


4	Debtors		2017		2016
£				£

	Trade debtors		-		156


5	Creditors: amounts falling due within one year		2017		2016
£				£

	Trade creditors		225		446
	Other taxes and social security costs		166		526
	Other creditors		19,101		18,112
			19,492		19,084


6	Other information

	A & I (Davies Bearings) Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Gwscwm Works
	24 Gwscwm Road
	Burry Port
	SA16 0BT