A&L Components Ltd - Filleted accounts

Registered number

04450273

A&L Components Ltd

Unaudited Filleted Accounts

31 July 2017

A&L Components Ltd
Registered number:		04450273
Balance Sheet
as at 31 July 2017

Notes			2017			2016
£				£
Fixed assets
Tangible assets	2		18,654			26,013

Current assets
Stocks		69,857			49,952
Debtors	3	110,689			92,629
Cash at bank and in hand		29,541			38,119
		210,087			180,700

Creditors: amounts falling due within one year	4	(139,661)			(146,150)

Net current assets			70,426			34,550

Total assets less current liabilities			89,080			60,563


Provisions for liabilities			(4,150)			(4,691)


Net assets			84,930			55,872

Capital and reserves
Called up share capital			2			2
Profit and loss account			84,928			55,870

Shareholders' funds			84,930			55,872

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
Director
Approved by the board on 5 January 2018

A&L Components Ltd
Notes to the Accounts
for the year ended 31 July 2017


1	Accounting policies

	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:

	Freehold buildings	over 50 years
	Leasehold land and buildings	over the lease term
	Plant and machinery	over 5 years
	Fixtures, fittings, tools and equipment	over 5 years

	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.

	Pensions
	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
£			£		£
	Cost
	At 1 August 2016	442		35,565		36,007
	At 31 July 2017	442		35,565		36,007

	Depreciation
	At 1 August 2016	146		9,848		9,994
	Charge for the year	146		7,213		7,359
	At 31 July 2017	292		17,061		17,353

	Net book value
	At 31 July 2017	150		18,504		18,654
	At 31 July 2016	296		25,717		26,013


3	Debtors			2017		2016
£					£

	Trade debtors			109,514		91,454
	Other debtors			1,175		1,175
				110,689		92,629


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

	Obligations under finance lease and hire purchase contracts			13,460		19,597
	Trade creditors			73,982		76,527
	Taxation and social security costs			26,924		16,635
	Other creditors			25,295		33,391
				139,661		146,150


5	Other information

	A&L Components Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	170 Townsend Lane
	Liverpool
	Merseyside
	L19 0NQ