REGISTERED NUMBER: 05415161 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2017

FOR

AA THORNTON LIMITED

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

8

DIRECTORS:

J M Randall

Mrs S J Randall

SECRETARY:

J M Randall

REGISTERED OFFICE:

Thorpe House

93 Headlands

Kettering

Northamptonshire

NN15 6BL

BUSINESS ADDRESS:

1 - 7 High Street

Kettering

Northamptonshire

NN16 8ST

REGISTERED NUMBER:

05415161 (England and Wales)

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

113,824

120,432

Investments

6

3,000

3,000

116,824

123,432

CURRENT ASSETS

Stocks

112,944

120,113

Debtors

7

12,364

2,170

Cash in hand

336

3,859

125,644

126,142

CREDITORS

Amounts falling due within one year

8

164,132

181,991

NET CURRENT LIABILITIES

(38,488

)

(55,849

)

TOTAL ASSETS LESS CURRENT LIABILITIES

78,336

67,583

CREDITORS

Amounts falling due after more than one year

9

(19,161

)

(25,259

)

PROVISIONS FOR LIABILITIES

11

(15,209

)

(16,419

)

NET ASSETS

43,966

25,905

CAPITAL AND RESERVES

Called up share capital

12

2

2

Retained earnings

13

43,964

25,903

SHAREHOLDERS' FUNDS

43,966

25,905

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 February 2018 and were signed on its behalf by:

Mrs S J Randall - Director

1.	STATUTORY INFORMATION

AA Thornton 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Tangible fixed assets

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

Improvements to property

-

10% on cost

Fixtures and fittings

-

10% on reducing balance

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2016

150,000

Reclassification/transfer

(150,000

)

At 31 May 2017

-

AMORTISATION

At 1 June 2016

150,000

Reclassification/transfer

(150,000

)

At 31 May 2017

-

NET BOOK VALUE

At 31 May 2017

-

At 31 May 2016

-

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

property

fittings

Totals

£

£

£

COST

At 1 June 2016

66,179

93,257

159,436

Additions

-

6,773

6,773

At 31 May 2017

66,179

100,030

166,209

DEPRECIATION

At 1 June 2016

6,617

32,387

39,004

Charge for year

6,617

6,764

13,381

At 31 May 2017

13,234

39,151

52,385

NET BOOK VALUE

At 31 May 2017

52,945

60,879

113,824

At 31 May 2016

59,562

60,870

120,432

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 June 2016

and 31 May 2017

3,000

NET BOOK VALUE

At 31 May 2017

3,000

At 31 May 2016

3,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

12,364

2,170

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

50,481

49,120

Trade creditors

46,462

70,767

Taxation and social security

32,421

27,827

Other creditors

34,768

34,277

164,132

181,991

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans

19,161

25,259

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than 5 years

by instalments

3,344

9,442

3,344

9,442

10.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank overdrafts

47,124

45,763

Bank loans

22,518

28,616

69,642

74,379

The bank borrowings are secured by a fixed and floating charge over the company's assets.

11.	PROVISIONS FOR LIABILITIES

2017

2016

£

£

Deferred tax

15,209

16,419

Deferred

tax

£

Balance at 1 June 2016

16,419

Credit to Income Statement during year

(1,210

)

Balance at 31 May 2017

15,209

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

2

Ordinary

£1

2

2

13.

RESERVES

Retained

earnings

£

At 1 June 2016

25,903

Profit for the year

77,611

Dividends

(59,550

)

At 31 May 2017

43,964

14.	OTHER FINANCIAL COMMITMENTS

The company has an annual rent commitment of £27,000 in respect of a property lease expiring on 22 October

2022.

15.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Other creditors includes £30,266 (2016:£30,095) owed to the directors on their loan accounts with the company.

16.	ULTIMATE CONTROLLING PARTY