AAIS Global Limited - Filleted accounts

Registered number

09172888

AAIS Global Limited

Filleted Accounts

31 August 2017

AAIS Global Limited
Registered number:		09172888
Balance Sheet
as at 31 August 2017

Notes			2017			2016
£				£
Fixed assets
Tangible assets	2		1,855			2,318

Current assets
Debtors	3	598			980
Cash at bank and in hand		5,386			15,893
		5,984			16,873

Creditors: amounts falling due within one year	4	(6,885)			(17,388)

Net current liabilities			(901)			(515)

Total assets less current liabilities			954			1,803


Provisions for liabilities			(555)			(463)


Net assets			399			1,340

Capital and reserves
Share premium			1			1
Profit and loss account			398			1,339

Shareholder's funds			399			1,340

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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 Turner
Director
Approved by the board on 11 December 2017

AAIS Global Limited
Notes to the Accounts
for the year ended 31 August 2017


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:

	Plant and Equipment			20% reducing balance


	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.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.


2	Tangible fixed assets
								Plant & Equipment
£
	Cost
	At 1 September 2016							3,070
	At 31 August 2017							3,070

	Depreciation
	At 1 September 2016							752
	Charge for the year							463
	At 31 August 2017							1,215

	Net book value
	At 31 August 2017							1,855
	At 31 August 2016							2,318


3	Debtors					2017		2016
£							£

	Trade debtors					-		588
	Other debtors					598		392
						598		980


4	Creditors: amounts falling due within one year					2017		2016
£							£

	Taxation and social security costs					6,385		9,062
	Other creditors					500		8,326
						6,885		17,388


5	Loans to directors
	Description and conditions	B/fwd	Paid		Repaid		C/fwd
£			£		£		£
	Mr Adam Turner
	Directors Loan	(7,826)		52,891		(45,065)		-

		(7,826)		52,891		(45,065)		-


6	Controlling party

	The company was under the control of the Director, Mr. A. Turner throughout the year


7	Other information

	AAIS Global Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Durham Tees Valley Bus Ctr
	Orde Wingate Way
	Durham Road
	Stockton on Tees
	TS19 0GD