Company Registration No. 1993974 (England and Wales)
ABERYSTWYTH REMOVALS AND STORAGE LIMITED
Unaudited accounts
for the year ended 31 March 2017
ABERYSTWYTH REMOVALS AND STORAGE LIMITED
Unaudited accounts
Contents
ABERYSTWYTH REMOVALS AND STORAGE LIMITED
Company Information
for the year ended 31 March 2017
Company Number
1993974 (England and Wales)
Registered Office
Ynys Tachwedd
Ynyslas
Borth
Ceredigion
SY24 5LB
WALES
Accountants
Kyffin & Co
The Old Convent
Llanbadarn Road
Aberystwyth
Ceredigion
SY23 1WX
ABERYSTWYTH REMOVALS AND STORAGE LIMITED
Statement of financial position
as at 31 March 2017
Tangible assets
106,297
121,962
Cash at bank and in hand
1,330
3,802
Creditors: amounts falling due within one year
(69,482)
(69,471)
Net current liabilities
(62,342)
(55,942)
Called up share capital
2
2
Profit and loss account
43,953
66,018
Shareholders' funds
43,955
66,020
For the year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 23 May 2017.
Mr C H Moss
Director
Company Registration No. 1993974
ABERYSTWYTH REMOVALS AND STORAGE LIMITED
Notes to the Accounts
for the year ended 31 March 2017
ABERYSTWYTH REMOVALS AND STORAGE LIMITED is a private company, limited by shares, registered in England and Wales, registration number 1993974. The registered office and principal place of business is Ynys Tachwedd, Ynyslas, Borth, Ceredigion, SY24 5LB, WALES.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 March 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 April 2015.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% on cost
Motor vehicles
25% reducing balance
Fixtures & fittings
25% reducing balance
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
ABERYSTWYTH REMOVALS AND STORAGE LIMITED
Notes to the Accounts
for the year ended 31 March 2017
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2016
140,115
39,156
55,358
234,629
Disposals
-
-
(55,358)
(55,358)
At 31 March 2017
140,115
39,156
-
179,271
At 1 April 2016
32,032
38,868
41,767
112,667
Charge for the year
2,002
72
-
2,074
On disposals
-
-
(41,767)
(41,767)
At 31 March 2017
34,034
38,940
-
72,974
At 31 March 2017
106,081
216
-
106,297
At 31 March 2016
108,083
288
13,591
121,962
6
Creditors: amounts falling due within one year
2017
2016
Taxes and social security
10,468
6,172
Loans from directors
57,266
55,447
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
8
Average number of employees
During the year the average number of employees was 2 (2016: 2).