Registered number
05505917
A A MOLYNEUX BUILDERS LIMITED
Filleted Accounts
31 August 2018
A A MOLYNEUX BUILDERS LIMITED
Registered number: 05505917
Balance Sheet
as at 31 August 2018
Notes 2018 2017
£ £
Fixed assets
Tangible assets 2 207,511 193,725
207,511 193,725
Current assets
Stocks 50,243 50,698
Debtors 3 548,024 509,608
Cash at bank and in hand 158 158
598,425 560,464
Creditors: amounts falling due within one year 4 (415,911) (385,080)
Net current assets 182,514 175,384
Total assets less current liabilities 390,025 369,109
Creditors: amounts falling due after more than one year 5 (35,851) (49,466)
Net assets 354,174 319,643
Capital and reserves
Called up share capital 100 100
Profit and loss account 354,074 319,543
Shareholders' funds 354,174 319,643
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 Molyneux
Director
Approved by the board on 15 December 2018
A A MOLYNEUX BUILDERS LIMITED
Notes to the Accounts
for the year ended 31 August 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
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.
2 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 September 2017 207,023 23,638 97,905 328,566
Additions - 1,800 31,850 33,650
Surplus on revaluation - - - -
Disposals - - - -
At 31 August 2018 207,023 25,438 129,755 362,216
Depreciation
At 1 September 2017 41,405 16,641 76,795 134,841
Charge for the year 4,140 2,484 13,240 19,864
Surplus on revaluation - - - -
On disposals - - - -
At 31 August 2018 45,545 19,125 90,035 154,705
Net book value
At 31 August 2018 161,478 6,313 39,720 207,511
At 31 August 2017 165,618 6,997 21,110 193,725
3 Debtors 2018 2017
£ £
Trade debtors 519,759 501,342
Other debtors 28,265 8,266
548,024 509,608
4 Creditors: amounts falling due within one year 2018 2017
£ £
Bank loans and overdrafts 75,369 58,589
Trade creditors 150,341 161,551
Corporation tax 25,806 21,575
Other taxes and social security costs 154,340 137,821
Other creditors 6,192 5,544
415,911 385,080
5 Creditors: amounts falling due after one year 2018 2017
£ £
Bank loans 30,056 49,466
35,851 49,466
6 Controlling party
The company is under the control of the directors.
7 Other information
A A MOLYNEUX BUILDERS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Unit 19 Brookfield Business Park
Muir Road
Aintree
Liverpool
L9 7AR
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