Registration number:
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AA Press Engineering Ltd
for the Year Ended 30 June 2017
Tudors Business Centre
Waterhouse Lane
Kingswood
Surrey
KT20 6EN
AA Press Engineering Ltd
Contents
Company Information |
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Director's Report |
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Profit and Loss Account |
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Statement of Comprehensive Income |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
AA Press Engineering Ltd
Company Information
Director |
Alexander Angus |
Company secretary |
L V Angus |
Registered office |
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Bankers |
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Accountants |
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Page 1 |
AA Press Engineering Ltd
Director's Report for the Year Ended 30 June 2017
The director presents his report and the financial statements for the year ended 30 June 2017.
Director of the company
The director who held office during the year was as follows:
Principal activity
The principal activity of the company is press engineering
Small companies provision statement
This report has 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.
Approved by the Board on
.........................................
Alexander Angus
Director
Page 2 |
AA Press Engineering Ltd
Profit and Loss Account for the Year Ended 30 June 2017
Note |
Total |
Total |
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Turnover |
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Cost of sales |
( |
( |
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Gross profit |
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Distribution costs |
( |
( |
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Administrative expenses |
( |
( |
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Operating profit |
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Other interest receivable and similar income |
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8 |
15 |
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Profit before tax |
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Taxation |
( |
( |
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Profit for the financial year |
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The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
Page 3 |
AA Press Engineering Ltd
Statement of Comprehensive Income for the Year Ended 30 June 2017
Note |
2017 |
2016 |
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Profit for the year |
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Total comprehensive income for the year |
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Page 4 |
AA Press Engineering Ltd
(Registration number: 5492837)
Balance Sheet as at 30 June 2017
Note |
2017 |
2016 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 30 June 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
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• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
For the financial year ending 30 June 2017 the company was entitled to exemption from audit under section 479A of the Companies Act 2006 relating to subsidiary companies.
Director's responsibilities:
• |
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• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
For the financial year ending 30 June 2017 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
Director's responsibilities:
Page 5 |
AA Press Engineering Ltd
(Registration number: 5492837)
Balance Sheet as at 30 June 2017
• |
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• |
The director acknowledges his 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.
Approved and authorised by the
.........................................
Alexander Angus
Director
Page 6 |
AA Press Engineering Ltd
Statement of Changes in Equity for the Year Ended 30 June 2017
Share capital |
Profit and loss account |
Total |
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At 1 July 2016 |
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Profit for the year |
- |
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Total comprehensive income |
- |
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At 30 June 2017 |
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Share capital |
Profit and loss account |
Total |
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At 1 July 2015 |
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Profit for the year |
- |
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Total comprehensive income |
- |
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Dividends |
- |
( |
( |
At 30 June 2016 |
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Page 7 |
AA Press Engineering Ltd
Notes to the Financial Statements for the Year Ended 30 June 2017
General information |
The company is a private company limited by share capital incorporated in England.
The address of its registered office is:
These financial statements were authorised for issue by the
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.
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.
Page 8 |
AA Press Engineering Ltd
Notes to the Financial Statements for the Year Ended 30 June 2017
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 |
Vehicles |
25% straight line |
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.
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.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Profit before tax |
Arrived at after charging/(crediting)
2017 |
2016 |
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Depreciation expense |
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Page 9 |
AA Press Engineering Ltd
Notes to the Financial Statements for the Year Ended 30 June 2017
Tangible assets |
Furniture, fittings and equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 July 2016 |
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Additions |
- |
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Disposals |
- |
( |
( |
At 30 June 2017 |
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Depreciation |
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At 1 July 2016 |
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Charge for the year |
- |
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Eliminated on disposal |
- |
( |
( |
At 30 June 2017 |
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Carrying amount |
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At 30 June 2017 |
- |
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At 30 June 2016 |
- |
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Debtors |
2017 |
2016 |
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Trade debtors |
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Other debtors |
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Total current trade and other debtors |
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Creditors |
Note |
2017 |
2016 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Page 10 |
AA Press Engineering Ltd
Detailed Profit and Loss Account for the Year Ended 30 June 2017
2017 |
2016 |
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Turnover (analysed below) |
136,476 |
106,438 |
Cost of sales (analysed below) |
(44,432) |
(8,499) |
Gross profit |
92,044 |
97,939 |
Gross profit (%) |
67.44% |
92.02% |
Distribution costs (analysed below) |
(7,391) |
(30) |
Administrative expenses |
||
Employment costs (analysed below) |
(9,293) |
(8,111) |
Establishment costs (analysed below) |
(5,774) |
(1,144) |
General administrative expenses (analysed below) |
(4,240) |
(4,468) |
Finance charges (analysed below) |
(135) |
(214) |
Other expenses (analysed below) |
211 |
- |
(19,231) |
(13,937) |
|
Operating profit |
65,422 |
83,972 |
Other interest receivable and similar income (analysed below) |
8 |
15 |
Profit before tax |
65,430 |
83,987 |
Page 11 |
AA Press Engineering Ltd
Detailed Profit and Loss Account for the Year Ended 30 June 2017
2017 |
2016 |
Turnover |
||
Sale of goods, UK |
136,476 |
106,438 |
Cost of sales |
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Purchases |
33,943 |
663 |
Subcontract cost |
636 |
- |
Hire of plant and machinery (Operating leases) |
- |
122 |
Motor expenses |
9,853 |
7,714 |
44,432 |
8,499 |
Distribution costs |
||
Depreciation of motor vehicles |
7,391 |
30 |
Employment costs |
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Wages and salaries |
- |
13 |
Directors remuneration |
(9,290) |
(8,124) |
Directors NIC (Employers) |
(3) |
- |
(9,293) |
(8,111) |
Establishment costs |
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Rent |
(1,740) |
(720) |
Insurance |
(995) |
(315) |
Repairs and renewals |
(3,039) |
(109) |
(5,774) |
(1,144) |
General administrative expenses |
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Telephone and fax |
(599) |
(499) |
Computer software and maintenance costs |
(101) |
- |
Printing, postage and stationery |
(591) |
(24) |
Trade subscriptions |
(74) |
- |
Sundry expenses |
- |
(38) |
Travel and subsistence |
(2,656) |
(1,625) |
Customer entertaining (disallowable for tax) |
(319) |
(1,322) |
Accountancy fees |
100 |
(960) |
(4,240) |
(4,468) |
Finance charges |
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Bank charges |
(135) |
(214) |
Other expenses |
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(Profit)/loss on disposal of tangible fixed assets |
211 |
- |
Other interest receivable and similar income |
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Bank interest receivable |
8 |
15 |
Page 12 |