Registered number
A&L Components Ltd
Unaudited Filleted Accounts
31 July 2018
A&L Components Ltd
Registered number: 04450273
Balance Sheet
as at 31 July 2018
Notes 2018 2017
£ £
Fixed assets
Tangible assets 2 23,591 18,654
Current assets
Stocks 81,526 69,857
Debtors 3 112,591 110,689
Cash at bank and in hand 85,140 29,541
279,257 210,087
Creditors: amounts falling due within one year 4 (169,827) (139,661)
Net current assets 109,430 70,426
Total assets less current liabilities 133,021 89,080
Creditors: amounts falling due after more than one year 5 (8,357) -
Provisions for liabilities (4,809) (4,150)
Net assets 119,855 84,930
Capital and reserves
Called up share capital 2 2
Profit and loss account 119,853 84,928
Shareholders' funds 119,855 84,930
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.
Mr A Leadbetter
Approved by the board on 16 April 2019
A&L Components Ltd
Notes to the Accounts
for the year ended 31 July 2018
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).
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 over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
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.
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.
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.
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
At 1 August 2017 442 35,565 36,007
Additions - 12,841 12,841
At 31 July 2018 442 48,406 48,848
At 1 August 2017 292 17,061 17,353
Charge for the year 149 7,755 7,904
At 31 July 2018 441 24,816 25,257
Net book value
At 31 July 2018 1 23,590 23,591
At 31 July 2017 150 18,504 18,654
3 Debtors 2018 2017
£ £
Trade debtors 112,591 109,514
Other debtors - 1,175
112,591 110,689
4 Creditors: amounts falling due within one year 2018 2017
£ £
Obligations under finance lease and hire purchase contracts 11,451 13,460
Trade creditors 128,301 73,982
Taxation and social security costs 21,397 26,924
Other creditors 8,678 25,295
169,827 139,661
5 Creditors: amounts falling due after one year 2018 2017
£ £
Obligations under finance lease and hire purchase contracts 8,357 -
6 Other information
A&L Components Ltd is a private company limited by shares and incorporated in England. Its registered office is:
170 Townsend Lane
L19 0NQ
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