ACCOUNTS - Final Accounts preparation

Registered number: SC080361

A&J (MAINTENANCE SUPPORT) LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2018

A&J (MAINTENANCE SUPPORT) LIMITED

COMPANY INFORMATION

Director	June Duncan


Registered number	SC080361


Registered office	11/13 Panmure Street
	Broughty Ferry
	Dundee
	DD5 2ER


Accountants	Findlays
	11 Dudhope Terrace
	Dundee
	DD3 6TS

A&J (MAINTENANCE SUPPORT) LIMITED

CONTENTS

	Page
Accountants' Report	1
Balance Sheet	2 - 3
Notes to the Financial Statements	4 - 12

A&J (MAINTENANCE SUPPORT) LIMITED

REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF A&J (MAINTENANCE SUPPORT) LIMITED
FOR THE YEAR ENDED 31 MARCH 2018

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&J (Maintenance Support) Limited for the year ended 31 March 2018 which comprise the Balance Sheet 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 of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/technical-resources/framework-for-the-preparation-of-accounts-revised-january-2017.

This report is made solely to the director of A&J (Maintenance Support) Limited in accordance with the terms of our engagement letter dated 25 July 2014. Our work has been undertaken solely to prepare for your approval the financial statements of A&J (Maintenance Support) Limited and state those matters that we have agreed to state to the director of A&J (Maintenance Support) Limited in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.com/technical-resources/framework-for-the-preparation-of-accounts-revised-january-2017. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than A&J (Maintenance Support) Limited and its director for our work or for this report.

It is your duty to ensure that A&J (Maintenance Support) 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 or loss of A&J (Maintenance Support) Limited. You consider that A&J (Maintenance Support) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of A&J (Maintenance Support) 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.

Findlays

11 Dudhope Terrace

Dundee

DD3 6TS

5 December 2018

Page 1

A&J (MAINTENANCE SUPPORT) LIMITED

REGISTERED NUMBER: SC080361

BALANCE SHEET

AS AT 31 MARCH 2018

		2018		2017
Note		£		£

Fixed assets
Tangible assets	5		68,149		70,591
Investments	6		2		2
			68,151		70,593
Current assets
Debtors: amounts falling due within one year	7	129,228		146,129
Cash at bank and in hand	8	118,837		26,697
		248,065		172,826
Creditors: amounts falling due within one year	9	(304,285)		(262,264)
Net current liabilities			(56,220)		(89,438)
Total assets less current liabilities			11,931		(18,845)
Creditors: amounts falling due after more than one year	10		(6,122)		(922)

Net assets/(liabilities)			5,809		(19,767)

Capital and reserves
Called up share capital	11	1	1
Capital redemption reserve		1	1
Profit and loss account		5,807	(19,769)
		5,809	(19,767)

Page 2

A&J (MAINTENANCE SUPPORT) LIMITED

REGISTERED NUMBER: SC080361

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2018

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 5 December 2018.

June Duncan

Director

The notes on pages 4 to 12 form part of these financial statements.

Page 3

A&J (MAINTENANCE SUPPORT) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

1.	General information

A&J (Maintenance Support) Limited is a registered private company by limited by shares, incorporated in Scotland within the United Kingdom (company number SC080361). The address of the registered office is given in the company information page of these financial statements.
The financial statements are presented in sterling which is the functional currency of the company.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of Income and Retained Earnings on a straight line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.4

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

A&J (MAINTENANCE SUPPORT) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

2.Accounting policies (continued)

2.5

Borrowing costs

All borrowing costs are recognised in the Statement of Income and Retained Earnings in the year in which they are incurred.

2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of Income and Retained Earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.7

Taxation

Tax is recognised in the Statement of Income and Retained Earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line and reducing balance method.

Depreciation is provided on the following basis:

Freehold property	-	2% Depreciation
Plant and machinery	-	25% Straight Line
Motor vehicles	-	20% Straight Line
Office equipment	-	25% Straight Line
Other fixed assets	-	7.5% on a Reducing Balance and 5% of cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings.

Page 5

A&J (MAINTENANCE SUPPORT) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

2.Accounting policies (continued)

2.9

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.10

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.12

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.13

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Employees

The average monthly number of employees, including directors, during the year was 9 (2017 - 10).

Page 6

A&J (MAINTENANCE SUPPORT) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

4.	Taxation

		2018	2017
		£	£

Corporation tax
Current tax on profits for the year	9,167	1,181
	9,167	1,181

Total current tax	9,167	1,181

	Deferred tax
	Total deferred tax	-	-


	Taxation on profit on ordinary activities	9,167	1,181

	Factors affecting tax charge for the year
	There were no factors that affected the tax charge for the year which has been calculated on the profits on ordinary activities before tax at the standard rate of corporation tax in the UK of 19% (2017 - 20%).

Page 7


		A&J (MAINTENANCE SUPPORT) LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018

	5.	Tangible fixed assets

	Freehold property	Plant and machinery	Motor vehicles	Office equipment	Other fixed assets
	£	£	£	£	£
Cost or valuation
At 1 April 2017	46,051	147,310	99,300	34,911	644,746
Additions	-	-	16,988	1,145	-
At 31 March 2018	46,051	147,310	116,288	36,056	644,746
Depreciation
At 1 April 2017	-	140,237	83,044	33,700	644,746
Charge for the year on owned assets	-	7,073	12,683	819	-
At 31 March 2018	-	147,310	95,727	34,519	644,746
Net book value
At 31 March 2018	46,051	-	20,561	1,537	-
At 31 March 2017	46,051	7,073	16,256	1,211	-

Page 8

A&J (MAINTENANCE SUPPORT) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

5.Tangible fixed assets (continued)

		Total
		£
	Cost or valuation
	At 1 April 2017	972,318
	Additions	18,133
	At 31 March 2018	990,451
	Depreciation
	At 1 April 2017	901,727
	Charge for the year on owned assets	20,575
	At 31 March 2018	922,302
	Net book value
	At 31 March 2018	68,149
	At 31 March 2017	70,591

Depreciation policy on buildings is to charge 2% per annum, the value of Freehold property above is almost entirely land and therefore any depreciation charge has been deemed immaterial.

Page 9

A&J (MAINTENANCE SUPPORT) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

6.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 April 2017	2
	At 31 March 2018	2

	Net book value
	At 31 March 2018	2
	At 31 March 2017	2

Debtors

					2018	2017
					£	£


Trade debtors	107,038	123,084
Amounts owed by group undertakings	21,251	16,702
Prepayments and accrued income	939	6,343
	129,228	146,129

8.	Cash and cash equivalents
		2018	2017
		£	£

Cash at bank and in hand	118,837	26,697
Less: bank overdrafts	(27,503)	(57,744)
	91,334	(31,047)

Page 10

A&J (MAINTENANCE SUPPORT) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

9.	Creditors: Amounts falling due within one year
		2018	2017
		£	£

Bank overdrafts	27,503	57,744
Trade creditors	19,302	31,194
Corporation tax	9,167	1,181
Other taxation and social security	17,250	24,744
Obligations under finance lease and hire purchase contracts	8,774	16,569
Other creditors	218,003	126,933
Accruals and deferred income	4,286	3,899
	304,285	262,264

10.	Creditors: Amounts falling due after more than one year
		2018	2017
		£	£

Net obligations under finance leases and hire purchase contracts	6,122	922
	6,122	922

Page 11

A&J (MAINTENANCE SUPPORT) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

11.	Share capital
		2018	2017
		£	£

Allotted, called up and fully paid

1 (2017 - 1) Ordinary share of £1.00	1	1

12.	Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £808 (2017 - £2,405).

Page 12