REGISTERED NUMBER: 05432065 (England and Wales)

A&A CONCRETE REPAIR LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2018

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr P D Ashton

REGISTERED OFFICE:

7 Sandy Court

Langage Business Park

Plymouth

Devon

PL7 5JX

REGISTERED NUMBER:

05432065 (England and Wales)

ACCOUNTANTS:

Mark Holt & Co Limited

Chartered Accountants

7 Sandy Court

Ashleigh Way

Langage Business Park

Plymouth

Devon

PL7 5JX

FIXED ASSETS

Intangible assets

5

-

4,000

Tangible assets

6

41,669

130,605

41,669

134,605

CURRENT ASSETS

Stocks

2,000

1,750

Debtors

142,683

210,047

Cash at bank

30,408

49,665

175,091

261,462

CREDITORS

Amounts falling due within one year

67,567

263,560

NET CURRENT ASSETS/(LIABILITIES)

107,524

(2,098

)

TOTAL ASSETS LESS CURRENT LIABILITIES

149,193

132,507

PROVISIONS FOR LIABILITIES

7,917

9,471

NET ASSETS

141,276

123,036

CAPITAL AND RESERVES

Called up share capital

40

40

Capital redemption reserve

(170,790

)

(170,790

)

Retained earnings

312,026

293,786

141,276

123,036

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 May 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director on 13 December 2018 and were signed by:

Mr P D Ashton - Director

1.	STATUTORY INFORMATION

A&A Concrete Repair 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 (£).

The principle place of business is 25 Stonehouse Street, PLYMOUTH, Devon, PL1 3PE.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

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

added tax and other sales taxes.

Turnover represents net invoiced sales of building and construction work, excluding value added tax.

Profit is recognised on long term contracts, if the final outcome can be assessed with reasonable certainty, by including in

the profit and loss account the turnover and related costs as contract activity progresses. All losses that can be anticipated

with certainty are recognised at the earliest opportunity.

The stage of completion is measured by the proportion of contract costs incurred for work performed to date to the

estimated total contract costs. Full provision is made for all known or expected losses on individual contracts once such

losses are foreseen. Revenue in respect of variations to contracts are recognised when it is probable it will be agreed by the

client.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its

useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in

other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic

life of that asset as follows:

Asset Class Amortisation method and rate

Goodwill 20% straight line

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Impairment of assets

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have

suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset

is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is

reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its

recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been

recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Debtors

Short term debtors are measured at transaction price, less any impairment.

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.

Amounts recoverable on contract

Long Term Contracts are recognised by reference to the stage of completion of each contract at the balance sheet date.

The amount by which recorded turnover on long-term contracts is in excess of payments on account is classified as

‘amounts recoverable on contracts’ and is separately disclosed within debtors.

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

At inception the Company assesses agreements that transfer the right to use assets. The assessment considers whether the

arrangement is a finance lease or an operating lease based on the substances of the arrangement.

Finance leases

Leases of assets that transfer substantially all the risks and rewards of ownership to the Company are classified as finance

leases.

Assets held under finance leases are recognized initially at the fair value of the leased asset (or, if lower, the present value

of minimum lease payments) at the inception of the lease. The corresponding liability to the lessor is included in the

statement of financial position as a finance lease obligation. Lease payments are apportioned between finance charges and

reduction of the lease obligation using the effective interest method so as to achieve a constant rate of interest on the

remaining balance of the liability. Finance charges are deducted in measuring profit or loss.

Assets held under finance leases are included in tangible fixed assets and depreciated over the shorter of the lease term and

the estimated useful life of the asset. Assets are assessed for impairment at each reporting date.

Operating leases

Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under

operating leases are charged to the profit and loss account 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.

Provision of liabilities

Provisions are recognised when the Company has a present (legal or constructive) obligation as a result of a past event; it is

probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be

estimated reliably.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at

the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is

recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance cost in

profit or loss in the period it arises.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2017 - 7 ) .

5.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2017

and 31 May 2018

10,000

AMORTISATION

At 1 June 2017

6,000

Amortisation for year

4,000

At 31 May 2018

10,000

NET BOOK VALUE

At 31 May 2018

-

At 31 May 2017

4,000

6.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2017

276,178

Additions

11,156

Disposals

(129,340

)

At 31 May 2018

157,994

DEPRECIATION

At 1 June 2017

145,573

Charge for year

15,413

Eliminated on disposal

(44,661

)

At 31 May 2018

116,325

NET BOOK VALUE

At 31 May 2018

41,669

At 31 May 2017

130,605

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2018 and 31 May 2017:

2018

2017

£

£

Mr P D Ashton

Balance outstanding at start of year

19,082

25,226

Amounts advanced

54,908

69,287

Amounts repaid

(56,210

)

(75,431

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

17,780

19,082

The overdrawn loan account at the end of 31 May 2017 was cleared by way of a dividend on the 31 December 2017.

The overdrawn loan account as at the end of 31st May 2018 was cleared by way of a dividend on the 01 June 2018.