REGISTERED NUMBER: 05534604 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST AUGUST 2017

FOR

AAA LOGISTICS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs CE Hart

Mr K Wood

Mr EM Wood

SECRETARY:

Mrs CE Hart

REGISTERED OFFICE:

The Paddocks Farm

Leicester Road

Kibworth Harcourt

Leicester

Leicestershire

LE8 0NP

REGISTERED NUMBER:

05534604 (England and Wales)

FIXED ASSETS

Intangible assets

5

34,107

38,370

Tangible assets

6

69,522

86,562

103,629

124,932

CURRENT ASSETS

Stocks

7,737

7,737

Debtors

7

177,157

192,787

Cash at bank

136

3,135

185,030

203,659

CREDITORS

Amounts falling due within one year

8

211,898

205,505

NET CURRENT LIABILITIES

(26,868

)

(1,846

)

TOTAL ASSETS LESS CURRENT LIABILITIES

76,761

123,086

CREDITORS

Amounts falling due after more than one year

9

(60,209

)

(102,834

)

PROVISIONS FOR LIABILITIES

(13,613

)

(17,312

)

NET ASSETS

2,939

2,940

CAPITAL AND RESERVES

Called up share capital

11

1,000

1,000

Retained earnings

12

1,939

1,940

SHAREHOLDERS' FUNDS

2,939

2,940

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 22nd May 2018 and were signed on its behalf by:

Mrs CE Hart - Director

Mr K Wood - Director

Mr EM Wood - Director

1.	STATUTORY INFORMATION

AAA Logistics Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company

Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	TRANSITION TO FRS102

This is the first year in which the financial statements have been prepared under FRS102 section 1A,

issue by the Financial Reporting Council. The financial statements for the year ended 31 August

2016 were prepared under previous UK GAAP. The transition date is therefore 1 September 2015.

Adopting FRS102 has resulted in no changes in accounting policies.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A

"Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in

the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been

prepared under the historic cost basis.

The financial statements have been prepared on a going concern basis not withstanding that at 31

August 2017 the company had net current liabilities of £981. The directors believe this basis to be

appropriate and have agreed to provide funds as necessary to meet the day to day running costs of

the business for the foreseeable future.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are

measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

25% on reducing balance

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Office equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

except to the extent that it relates to items recognised in other comprehensive income or directly in

equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that

are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those

held under finance leases are depreciated over their estimated useful lives or the lease term,

whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments

The company is party to only basic financial instruments such as cash, trade debtors and creditors,

and bank loans. Instruments such as trade debtors and creditors are initially recognised at their

transaction cost and reviewed at the year end for impairment. Debt instruments not repayable on

demand or due within one year, such as bank loans, are measured at amortised cost using the

effective interest rate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2016 - 8 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st September 2016

and 31st August 2017

90,000

AMORTISATION

At 1st September 2016

51,630

Amortisation for year

4,263

At 31st August 2017

55,893

NET BOOK VALUE

At 31st August 2017

34,107

At 31st August 2016

38,370

6.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1st September 2016

4,457

25,400

1,007

At 31st August 2017

4,457

25,400

1,007

DEPRECIATION

At 1st September 2016

2,804

20,922

956

Charge for year

413

1,120

13

Eliminated on disposal

-

-

-

At 31st August 2017

3,217

22,042

969

NET BOOK VALUE

At 31st August 2017

1,240

3,358

38

At 31st August 2016

1,653

4,478

51

Motor

Office

vehicles

equipment

Totals

£

£

£

COST

At 1st September 2016

128,740

4,811

164,415

Additions

7,000

1,527

8,527

Disposals

(19,000

)

-

(19,000

)

At 31st August 2017

116,740

6,338

153,942

DEPRECIATION

At 1st September 2016

49,368

3,803

77,853

Charge for year

20,164

475

22,185

Eliminated on disposal

(15,618

)

-

(15,618

)

At 31st August 2017

53,914

4,278

84,420

NET BOOK VALUE

At 31st August 2017

62,826

2,060

69,522

At 31st August 2016

79,372

1,008

86,562

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1st September 2016

and 31st August 2017

102,245

DEPRECIATION

At 1st September 2016

27,588

Charge for year

18,664

At 31st August 2017

46,252

NET BOOK VALUE

At 31st August 2017

55,993

At 31st August 2016

74,657

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

154,204

152,962

Other debtors

22,953

39,825

177,157

192,787

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

26,816

27,141

Hire purchase contracts

28,860

33,231

Trade creditors

37,647

90,312

Taxation and social security

52,349

29,046

Other creditors

66,226

25,775

211,898

205,505

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans

50,354

67,461

Hire purchase contracts

9,855

35,373

60,209

102,834

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than 5 years

by instalment

2,156

15,094

2,156

15,094

10.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank overdrafts

10,105

11,028

Bank loans

67,065

83,574

Hire purchase contracts

38,715

68,604

115,885

163,206

Other creditors include an amount of £56,281 (2016: £23,875) which is secured by a fixed charge

over trade debtors.

The hire purchase liabilities are secured against the assets to which they relate.

The bank overdraft is secured by personal guarantees by Mrs CE Hart and Mr KM Wood.

The bank loans are secured by a personal guarantee by Mr EM Wood.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

1,000

Ordinary

£1

1,000

1,000

12.

RESERVES

Retained

earnings

£

At 1st September 2016

1,940

Profit for the year

80,649

Dividends

(80,650

)

At 31st August 2017

1,939