A&A Wrought Iron Ltd - Filleted accounts

Registered number

06879676

A&A Wrought Iron Ltd

Unaudited Filleted Accounts

31 January 2018

A&A Wrought Iron Ltd
Registered number:		06879676
Balance Sheet
as at 31 January 2018

Notes			2018			2017
£				£
Fixed assets
Tangible assets	2		134			346

Current assets
Stocks		-			19,500
Debtors	3	43,595			25,652
Cash at bank and in hand		3,113			-
		46,708			45,152

Creditors: amounts falling due within one year	4	(43,907)			(43,572)

Net current assets			2,801			1,580

Net assets			2,935			1,926

Capital and reserves
Called up share capital			1			1
Profit and loss account			2,934			1,925

Shareholders' funds			2,935			1,926

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 Williams
Director
Approved by the board on 9 July 2018

A&A Wrought Iron Ltd
Notes to the Accounts
for the year ended 31 January 2018


1	Accounting policies

	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:

	Fixtures, fittings, tools and equipment			over 4 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.


2	Tangible fixed assets
								Plant and machinery etc
£
	Cost
	At 1 February 2017							12,155
	At 31 January 2018							12,155

	Depreciation
	At 1 February 2017							11,809
	Charge for the year							212
	At 31 January 2018							12,021

	Net book value
	At 31 January 2018							134
	At 31 January 2017							346


3	Debtors					2018		2017
£							£

	Trade debtors					11,235		3,608
	Other debtors					32,360		22,044
						43,595		25,652


4	Creditors: amounts falling due within one year					2018		2017
£							£

	Taxation and social security costs					16,578		7,780
	Other creditors					27,329		35,792
						43,907		43,572


5	Loans to directors
	Description and conditions	B/fwd	Paid		Repaid		C/fwd
£			£		£		£
	Mr A Williams
	[Loan 1]	(12,811)		82,387		(62,814)		6,762

		(12,811)		82,387		(62,814)		6,762


6	Other information

	A&A Wrought Iron Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	300 St Mary's Road
	Garston
	Liverpool
	Merseyside
	L19 0NQ