A & A Automatics Limited - Filleted accounts

Registered number

04381685

A & A Automatics Limited

Filleted Accounts

28 February 2017

A & A Automatics Limited
Registered number:		04381685
Balance Sheet
as at 28 February 2017

Notes			2017			2016
£				£
Fixed assets
Tangible assets	3		271,686			28,303

Current assets
Stocks		60,315			64,270
Debtors	4	341,155			265,662
Cash at bank and in hand		63,395			82,487
		464,865			412,419

Creditors: amounts falling due within one year	5	(428,058)			(265,052)

Net current assets			36,807			147,367

Total assets less current liabilities			308,493			175,670

Creditors: amounts falling due after more than one year	6		(138,162)			-

Provisions for liabilities			(12,525)			(5,675)


Net assets			157,806			169,995

Capital and reserves
Called up share capital			100			100
Profit and loss account			157,706			169,895

Shareholders' funds			157,806			169,995

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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 Davies
Director
Approved by the board on 5 November 2017

A & A Automatics Limited
Notes to the Accounts
for the year ended 28 February 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.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	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:

	Freehold buildings			over 50 years
	Plant and machinery			over 5 years
	Fixtures, fittings, tools and equipment			over 5 years

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	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.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Intangible fixed assets							£
	Goodwill:

	Cost
	At 1 March 2016							30,000
	At 28 February 2017							30,000

	Amortisation
	At 1 March 2016							30,000
	At 28 February 2017							30,000

	Net book value
	At 28 February 2017							-




3	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 March 2016	-		25,399		53,070		78,469
	Additions	192,291		33,778		53,442		279,511
	Disposals	-		-		(6,500)		(6,500)
	At 28 February 2017	192,291		59,177		100,012		351,480

	Depreciation
	At 1 March 2016	-		23,124		27,042		50,166
	Charge for the year	-		11,375		24,753		36,128
	On disposals	-		-		(6,500)		(6,500)
	At 28 February 2017	-		34,499		45,295		79,794

	Net book value
	At 28 February 2017	192,291		24,678		54,717		271,686
	At 29 February 2016	-		2,275		26,028		28,303


4	Debtors					2017		2016
£							£

	Trade debtors					339,448		261,803
	Other debtors					1,707		3,859
						341,155		265,662


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

	Bank loans and overdrafts					38,000		-
	Trade creditors					351,175		178,921
	Amounts owed to group undertakings and undertakings in which the company has a participating interest					-		5,757
	Corporation tax					9,312		44,120
	Other taxes and social security costs					29,567		27,279
	Other creditors					4		8,975
						428,058		265,052


6	Creditors: amounts falling due after one year					2017		2016
£							£

	Bank loans					138,162		-


7	Other information

	A & A Automatics Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Unit 4c
	Stafford Park 15
	Telford
	Shropshire
	TF3 3BB