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AA4Vans Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2018

Smith Butler
Chartered Certified Accountants
10 Mercury Quays
Ashley Lane
Shipley
Bradford
West Yorkshire
BD17 7DB

AA4Vans Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Financial Statements	4 to 9

AA4Vans Limited

Company Information

Directors

Mr Ashley Armstrong Mrs Rebecca Armstrong

Registered office

808 Great Horton Road Bradford West Yorkshire BD7 4PU

Accountants

Smith Butler Chartered Certified Accountants 10 Mercury Quays Ashley Lane Shipley Bradford West Yorkshire BD17 7DB

Page 1

AA4Vans Limited

(Registration number: 07126779)
Balance Sheet as at 31 March 2018

	Note	2018 £	2017 £
Fixed assets
Tangible assets	4	1,211,040	1,115,567
Current assets
Debtors	5	151,287	102,607
Cash at bank and in hand		31,603	66,601
		182,890	169,208
Creditors: Amounts falling due within one year	6	(281,872)	(473,439)
Net current liabilities		(98,982)	(304,231)
Total assets less current liabilities		1,112,058	811,336
Creditors: Amounts falling due after more than one year	6	-	(5,625)
Net assets		1,112,058	805,711
Capital and reserves
Called up share capital	7	100	100
Profit and loss account		1,111,958	805,611
Total equity		1,112,058	805,711

For the financial year ending 31 March 2018 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

The notes on pages 4 to 9 form an integral part of these financial statements.

Page 2

AA4Vans Limited

(Registration number: 07126779)
Balance Sheet as at 31 March 2018

Approved and authorised by the Board on 25 September 2018 and signed on its behalf by:
 

.........................................

Mr Ashley Armstrong
Director

The notes on pages 4 to 9 form an integral part of these financial statements.

Page 3

AA4Vans Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
808 Great Horton Road
Bradford
West Yorkshire
BD7 4PU

These financial statements were authorised for issue by the Board on 25 September 2018.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Page 4

AA4Vans Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Motor Vehicles	25% reducing balance
Plant and machinery	25% reducing balance
Equipment	25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Page 5

AA4Vans Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2017 - 2).

Page 6

AA4Vans Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

4	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2017	9,139	2,423,966	2,433,105
Additions	9,143	585,615	594,758
Disposals	-	(196,741)	(196,741)
At 31 March 2018	18,282	2,812,840	2,831,122
Depreciation
At 1 April 2017	5,662	1,311,877	1,317,539
Charge for the year	3,155	400,525	403,680
Eliminated on disposal	-	(101,137)	(101,137)
At 31 March 2018	8,817	1,611,265	1,620,082
Carrying amount
At 31 March 2018	9,465	1,201,575	1,211,040
At 31 March 2017	3,478	1,112,089	1,115,567

5

Debtors

	2018 £	2017 £
Trade debtors	151,287	101,332
Other debtors	-	1,275
	151,287	102,607

6

Creditors

Creditors: amounts falling due within one year

Page 7

AA4Vans Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

	Note	2018 £	2017 £
Due within one year
Bank loans and overdrafts	8	7,500	45,000
Trade creditors		30,382	26,569
Taxation and social security		24,852	24,646
Accruals and deferred income		3,745	4,278
Other creditors		215,393	372,946
		281,872	473,439