Caseware UK (AP4) 2016.0.181 2016.0.181 2017-12-312017-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truefalseNo description of principal activityfalse2017-01-01 05991776 2017-01-01 2017-12-31 05991776 2016-01-01 2016-12-31 05991776 2017-12-31 05991776 2016-12-31 05991776 c:Director2 2017-01-01 2017-12-31 05991776 d:PlantMachinery 2017-01-01 2017-12-31 05991776 d:PlantMachinery 2017-12-31 05991776 d:PlantMachinery d:OwnedOrFreeholdAssets 2017-01-01 2017-12-31 05991776 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2017-01-01 2017-12-31 05991776 d:MotorVehicles 2017-01-01 2017-12-31 05991776 d:MotorVehicles 2017-12-31 05991776 d:MotorVehicles 2016-12-31 05991776 d:MotorVehicles d:OwnedOrFreeholdAssets 2017-01-01 2017-12-31 05991776 d:FurnitureFittings 2017-01-01 2017-12-31 05991776 d:FurnitureFittings 2017-12-31 05991776 d:FurnitureFittings 2016-12-31 05991776 d:FurnitureFittings d:OwnedOrFreeholdAssets 2017-01-01 2017-12-31 05991776 d:OfficeEquipment 2017-01-01 2017-12-31 05991776 d:OfficeEquipment 2017-12-31 05991776 d:OfficeEquipment 2016-12-31 05991776 d:OfficeEquipment d:OwnedOrFreeholdAssets 2017-01-01 2017-12-31 05991776 d:OwnedOrFreeholdAssets 2017-01-01 2017-12-31 05991776 d:LeasedAssetsHeldAsLessee 2017-01-01 2017-12-31 05991776 d:Goodwill 2017-12-31 05991776 d:Goodwill 2016-12-31 05991776 d:CurrentFinancialInstruments 2017-12-31 05991776 d:CurrentFinancialInstruments 2016-12-31 05991776 d:Non-currentFinancialInstruments 2017-12-31 05991776 d:CurrentFinancialInstruments d:WithinOneYear 2017-12-31 05991776 d:CurrentFinancialInstruments d:WithinOneYear 2016-12-31 05991776 d:Non-currentFinancialInstruments d:AfterOneYear 2017-12-31 05991776 d:ShareCapital 2017-12-31 05991776 d:ShareCapital 2016-12-31 05991776 d:RetainedEarningsAccumulatedLosses 2017-12-31 05991776 d:RetainedEarningsAccumulatedLosses 2016-12-31 05991776 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2017-12-31 05991776 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2016-12-31 05991776 d:AcceleratedTaxDepreciationDeferredTax 2017-12-31 05991776 c:FRS102 2017-01-01 2017-12-31 05991776 c:AuditExempt-NoAccountantsReport 2017-01-01 2017-12-31 05991776 c:FullAccounts 2017-01-01 2017-12-31 05991776 c:PrivateLimitedCompanyLtd 2017-01-01 2017-12-31 05991776 d:HirePurchaseContracts d:WithinOneYear 2017-12-31 05991776 d:HirePurchaseContracts d:WithinOneYear 2016-12-31 05991776 d:HirePurchaseContracts d:BetweenOneTwoYears 2017-12-31 05991776 d:HirePurchaseContracts d:BetweenTwoFiveYears 2017-12-31 iso4217:GBP xbrli:pure

Registered number: 05991776









A & L TRADE FRAMES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2017

 
A & L TRADE FRAMES LIMITED
REGISTERED NUMBER: 05991776

BALANCE SHEET
AS AT 31 DECEMBER 2017

2017
2016
Note
£
£

Fixed assets
  

Tangible assets
 5 
42,930
8,167

  
42,930
8,167

Current assets
  

Stocks
 6 
1,771
1,638

Debtors: amounts falling due within one year
 7 
24,353
20,530

Cash at bank and in hand
 8 
20,283
44,415

  
46,407
66,583

Creditors: amounts falling due within one year
 9 
(52,119)
(73,225)

Net current liabilities
  
 
 
(5,712)
 
 
(6,642)

Total assets less current liabilities
  
37,218
1,525

Creditors: amounts falling due after more than one year
 10 
(27,565)
-

Provisions for liabilities
  

Deferred tax
 13 
(8,736)
-

  
 
 
(8,736)
 
 
-

Net assets
  
917
1,525


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
817
1,425

  
917
1,525


The directors consider 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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

Page 1

 
A & L TRADE FRAMES LIMITED
REGISTERED NUMBER: 05991776
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2017

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 26 February 2018.



L Brearley
Director
The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
A & L TRADE FRAMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017

1.


General information

A & L Trade Frames Limited is a private company limited by shares, registered in the United Kingdom number 05991776. Its registered office is 8 Holway Court, Holway Road, Holywell, Flintshire, CH8 7DR.
During the year, the principal activity of the company continued to be that of the sale of uPVC windows and frames to the trade.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

Page 3

 
A & L TRADE FRAMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017

2.Accounting policies (continued)

 
2.3

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.4

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 method.

Depreciation is provided on the following basis:

Plant & machinery
-
Motor vehicles
-
20%
Fixtures & fittings
-
25%
Office equipment
-
25%

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.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first outbasis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

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.

Page 4

 
A & L TRADE FRAMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017

2.Accounting policies (continued)

 
2.7

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.

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

 
2.12

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.

The Company has taken advantage of the optional exemption available on transition to FRS 102 which allows lease incentives on leases entered into before the date of transition to the standard 01 January 2016 to continue to be charged over the period to the first market rent review rather than the term of the lease.

Page 5

 
A & L TRADE FRAMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017

2.Accounting policies (continued)

 
2.13

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.

 
2.14

Interest income

Interest income is recognised in the statement of income and retained earnings using the effective interest method.

 
2.15

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the statement of income and retained earnings in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the balance sheet.

Page 6

 
A & L TRADE FRAMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017

2.Accounting policies (continued)

 
2.16

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

Staff costs, including directors' remuneration, were as follows:


The average monthly number of employees, including the directors, during the year was as follows:


        2017
        2016
            No.
            No.







Management and administration
2
2



Direct labour
2
2

4
4

Page 7

 
A & L TRADE FRAMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017

4.


Intangible assets




Goodwill

£



Cost


At 1 January 2017
54,297



At 31 December 2017

54,297



Amortisation


At 1 January 2017
54,297



At 31 December 2017

54,297



Net book value



At 31 December 2017
-



At 31 December 2016
-

Page 8

 
A & L TRADE FRAMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017

5.


Tangible fixed assets





Plant & machinery
Motor vehicles
Fixtures & fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 January 2017
-
27,445
6,492
3,567
37,504


Additions
42,000
-
-
-
42,000



At 31 December 2017

42,000
27,445
6,492
3,567
79,504



Depreciation


At 1 January 2017
-
21,570
5,260
2,508
29,338


Charge for the year on owned assets
56
5,108
1,232
372
6,768


Charge for the year on financed assets
469
-
-
-
469



At 31 December 2017

525
26,678
6,492
2,880
36,575



Net book value



At 31 December 2017
41,475
767
-
687
42,929



At 31 December 2016
-
5,875
1,233
1,059
8,167

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2017
2016
£
£



Plant and machinery
37,031
-

Motor vehicles
-
4,188

37,031
4,188

Page 9

 
A & L TRADE FRAMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017

6.


Stocks

2017
2016
£
£

Stock
1,771
1,640

1,771
1,640



7.


Debtors

2017
2016
£
£


Trade debtors
11,387
11,799

Other debtors
11,112
6,877

Prepayments and accrued income
1,854
1,854

24,353
20,530



8.


Cash and cash equivalents

2017
2016
£
£

Cash at bank and in hand
20,283
44,415

20,283
44,415



9.


Creditors: Amounts falling due within one year

2017
2016
£
£

Trade creditors
318
72

Corporation tax
3,283
11,840

Other taxation and social security
10
11,163

Obligations under finance lease and hire purchase contracts
7,435
4,234

Other creditors
35,428
40,396

Accruals and deferred income
5,645
5,520

52,119
73,225


Page 10

 
A & L TRADE FRAMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017

10.


Creditors: Amounts falling due after more than one year

2017
2016
£
£

Net obligations under finance leases and hire purchase contracts
27,565
-

27,565
-



Secured loans

Obligations under finance leases and hire purchase contracts are secured by a fixed charge over the specific assets to which they relate.


11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2017
2016
£
£


Within one year
8,690
4,234

Between 1-2 years
8,690
-

Between 2-5 years
26,068
-

43,448
4,234


12.


Financial instruments

2017
2016
£
£

Financial assets


Financial assets measured at fair value through profit or loss
20,283
44,415

20,283
44,415





Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.

Page 11

 
A & L TRADE FRAMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017

13.


Deferred taxation




2017


£






Charged to profit or loss
(8,736)



At end of year
(8,736)

The deferred taxation balance is made up as follows:

2017
2016
£
£


Accelerated capital allowances
(8,736)
-

(8,736)
-


14.


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 £689 (2016 - £10,025).

 
Page 12