REGISTERED NUMBER: 04711044 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

ACACIA CONTRACTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr M K R Asker

Mrs L V Asker

SECRETARY:

Mrs L V Asker

REGISTERED OFFICE:

2 Seaway Road

Paignton

Devon

TQ3 2NY

REGISTERED NUMBER:

04711044 (England and Wales)

ACCOUNTANTS:

Marsland Nash Associates

Chartered Tax Advisers, Accountants

and Business Consultants

7a Dartmouth Road

Paignton

Devon

TQ4 5AA

BANKERS:

Lloyds Bank

Paignton Branch

2 Palace Avenue

Paignton

Devon

TQ3 3ER

FIXED ASSETS

Intangible assets

4

26,668

31,112

Tangible assets

5

18,316

12,525

44,984

43,637

CURRENT ASSETS

Stocks

6

23,121

27,250

Debtors

7

2,253

1,352

Cash at bank and in hand

24,822

14,540

50,196

43,142

CREDITORS

Amounts falling due within one year

8

75,411

62,946

NET CURRENT LIABILITIES

(25,215

)

(19,804

)

TOTAL ASSETS LESS CURRENT LIABILITIES

19,769

23,833

CREDITORS

Amounts falling due after more than one year

9

(13,691

)

(16,299

)

PROVISIONS FOR LIABILITIES

(2,648

)

(2,505

)

NET ASSETS

3,430

5,029

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

3,428

5,027

SHAREHOLDERS' FUNDS

3,430

5,029

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

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.

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.

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 14 November 2017 and were signed on its behalf by:

Mrs L V Asker - Director

1.	STATUTORY INFORMATION

Acacia Contracts 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are

measured at cost less any accumulated amortisation and any accumulated impairment

losses.

Tangible fixed assets

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

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over

the period of the lease.

Goodwill

The goodwill which was acquired in 2003 by the company has been depreciated in the past

at Nil% up to 31 March 2014. The rate of amortisation has been amended to 5% per annum

on cost from 1 April 2015 and the period of write off of the goodwill is 20 years. Therefore, for

the purposes of these accounts and those following, the goodwill cost will be fully written off

by 2023.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2016 - 12 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2016

and 31 March 2017

40,000

AMORTISATION

At 1 April 2016

8,888

Amortisation for year

4,444

At 31 March 2017

13,332

NET BOOK VALUE

At 31 March 2017

26,668

At 31 March 2016

31,112

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2016

60,734

3,000

2,796

66,530

Additions

8,800

-

-

8,800

At 31 March 2017

69,534

3,000

2,796

75,330

DEPRECIATION

At 1 April 2016

51,294

1,313

1,398

54,005

Charge for year

1,888

422

699

3,009

At 31 March 2017

53,182

1,735

2,097

57,014

NET BOOK VALUE

At 31 March 2017

16,352

1,265

699

18,316

At 31 March 2016

9,440

1,687

1,398

12,525

6.

STOCKS

2017

2016

£

£

Stocks

23,121

27,250

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

1,102

902

Tax

701

-

Prepayments

450

450

2,253

1,352

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

2,607

2,468

Trade creditors

19,503

7,795

Tax

-

1,529

Social security and other taxes

1,803

604

VAT

4,048

5,924

Directors' current accounts

32,856

41,794

Accrued expenses

14,594

2,832

75,411

62,946

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans - 2-5 years

10,000

9,873

Bank loans more 5 yr by instal

3,691

6,426

13,691

16,299

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

3,691

6,426

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended

31 March 2017 and 31 March 2016:

2017

2016

£

£

Mrs L V Asker and Mr M K R Asker

Balance outstanding at start of year

(41,794

)

(47,764

)

Amounts advanced

8,938

10,907

Amounts repaid

-

(4,937

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(32,856

)

(41,794

)

The directors (Mr M K R Asker and Mrs L V Asker) have given a personal guarantee of £50,000

in respect of the company's bank loan.

11.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr and Mrs M K R Asker.