| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2016 |
| for |
| AACS Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2016 |
| for |
| AACS Limited |
| AACS Limited (Registered number: 02491884) |
| Contents of the Financial Statements |
| for the year ended 31 December 2016 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 3 |
| AACS Limited |
| Company Information |
| for the year ended 31 December 2016 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 3-5 Grange Terrace |
| Stockton Road |
| Sunderland |
| Tyne & Wear |
| SR2 7DG |
| BANKERS: |
| Unit 49-51 |
| The Bridges Shopping Centre |
| Sunderland |
| Tyne and Wear |
| SR1 3LE |
| AACS Limited (Registered number: 02491884) |
| Statement of Financial Position |
| 31 December 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 9 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Capital redemption reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| 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 |
| AACS Limited (Registered number: 02491884) |
| Notes to the Financial Statements |
| for the year ended 31 December 2016 |
| 1. | STATUTORY INFORMATION |
| AACS Limited is a |
| and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements have been prepared on the going concern basis, which assumes that the company will continue in |
| operational existence for the foreseeable future, which the directors consider to be appropriate. |
| Reconciliation with previous generally accepted accounting practice |
| These financial statements for the year ended 31 December 2016 are the first financial statements that comply with FRS 102 |
| Section 1A "Small Entities" - "The Financial Reporting Standard applicable in the UK and Republic of Ireland". The date of |
| transition is 1 January 2015. In preparing the financial statements, the directors have considered whether in applying the |
| accounting policies required by FRS 102 Section 1A "Small Entities", the restatement of comparative items was required. |
| The transition to FRS 102 has resulted in a small number of changes in accounting policies to those previously used. The |
| nature of these changes have not resulted in any changes on the opening equity and profit for the comparative period. |
| Turnover |
| Turnover represents net invoiced sales of goods and services, excluding value added tax, except in respect of service |
| contracts where turnover is recognised when the company obtains the right to consideration. |
| Tangible fixed assets |
| Plant and machinery | - |
| Motor vehicles | - |
| Computer equipment | - |
| Stocks |
| Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net realisable |
| value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or |
| damaged stock where the net realisable value is less than cost. |
| 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 statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of |
| financial position 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. |
| Financial instruments |
| The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic |
| financial instruments are recognised at transaction value and subsequently measured at their settlement value. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| AACS Limited (Registered number: 02491884) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2016 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and | Motor | Computer |
| machinery | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 January 2016 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 December 2016 |
| DEPRECIATION |
| At 1 January 2016 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 December 2016 |
| NET BOOK VALUE |
| At 31 December 2016 |
| At 31 December 2015 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2016 | 2015 |
| £ | £ |
| Trade debtors |
| Acrol Air Conditioning Services Limited |
| Tax |
| Prepayments |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2016 | 2015 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts (see note 7) |
| Trade creditors |
| CAPS creditors |
| Social security and other taxes |
| Directors' current accounts |
| Accrued expenses |
| 7. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase contracts |
| 2016 | 2015 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| AACS Limited (Registered number: 02491884) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2016 |
| 7. | LEASING AGREEMENTS - continued |
| Non-cancellable operating |
| leases |
| 2016 | 2015 |
| £ | £ |
| Within one year |
| Between one and five years |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2016 | 2015 |
| £ | £ |
| Hire purchase contracts | - | 583 |
| The hire purchase liabilities are secured over the assets to which they relate. |
| 9. | PROVISIONS FOR LIABILITIES |
| 2016 | 2015 |
| £ | £ |
| Deferred tax | - | 6,338 |
| Deferred |
| tax |
| £ |
| Balance at 1 January 2016 |
| Unused amounts reversed during year | ( |
) |
| Balance at 31 December 2016 |
| 10. | CONTROL |
| The controlling party is Mrs L A Pallister. |
| 11. | FIRST YEAR ADOPTION |
| On transition to FRS 102 there were no transitional adjustments required. |
| Transitional relief |
| On transition to FRS 102 the company did not take advantage of any transitional reliefs. |