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AA Press Engineering Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2018

AIMS Accountants for Business
Tudors Business Centre
Waterhouse Lane
Kingswood
Surrey
KT20 6EN

AA Press Engineering Ltd

Contents

Company Information	1
Director's Report	2
Profit and Loss Account	3
Statement of Comprehensive Income	4
Balance Sheet	5
Statement of Changes in Equity	6
Notes to the Financial Statements	7 to 9

AA Press Engineering Ltd

Company Information

Director

Mr Alexander Angus

Company secretary

L V Angus

Registered office

110 Oaks Avenue Worcester Park Surrey KT4 8XT

Accountants

AIMS Accountants for Business Tudors Business Centre Waterhouse Lane Kingswood Surrey KT20 6EN

Page 1

AA Press Engineering Ltd

Director's Report for the Year Ended 30 June 2018

The director presents his report and the financial statements for the year ended 30 June 2018.

Director of the company

The director who held office during the year was as follows:

Mr Alexander Angus

Principal activity

The principal activity of the company is press engineering

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Board on 31 March 2019 and signed on its behalf by:

.........................................
Mr Alexander Angus
Director

Page 2

AA Press Engineering Ltd

Profit and Loss Account for the Year Ended 30 June 2018

	Note	Total 30 June 2018 £	Total 30 June 2017 £
Turnover		153,438	136,476
Cost of sales		(54,419)	(44,432)
Gross profit		99,019	92,044
Distribution costs		(7,391)	(7,391)
Administrative expenses		(12,931)	(19,231)
Operating profit		78,697	65,422
Other interest receivable and similar income		-	8
		-	8
Profit before tax	4	78,697	65,430
Taxation		(17,000)	(8,826)
Profit for the financial year		61,697	56,604

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

The notes on pages 7 to 9 form an integral part of these financial statements.

Page 3

AA Press Engineering Ltd

Statement of Comprehensive Income for the Year Ended 30 June 2018

	Note	2018 £	2017 £
Profit for the year		61,697	56,604
Total comprehensive income for the year		61,697	56,604

The notes on pages 7 to 9 form an integral part of these financial statements.

Page 4

AA Press Engineering Ltd

(Registration number: 5492837)
Balance Sheet as at 30 June 2018

	Note	2018 £	2017 £
Fixed assets
Tangible assets	5	14,874	22,174
Current assets
Debtors	6	46,930	39,731
Cash at bank and in hand		201,302	118,293
		248,232	158,024
Creditors: Amounts falling due within one year	7	(89,182)	(47,971)
Net current assets		159,050	110,053
Net assets		173,924	132,227
Capital and reserves
Called up share capital		1	1
Profit and loss account		173,923	132,226
Total equity		173,924	132,227

For the financial year ending 30 June 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 31 March 2019
 

.........................................

Mr Alexander Angus

Director

The notes on pages 7 to 9 form an integral part of these financial statements.

Page 5

AA Press Engineering Ltd

Statement of Changes in Equity for the Year Ended 30 June 2018

	Share capital £	Profit and loss account £	Total £
At 1 July 2017	1	132,226	132,227
Profit for the year	-	61,697	61,697
Total comprehensive income	-	61,697	61,697
Dividends	-	(20,000)	(20,000)
At 30 June 2018	1	173,923	173,924

	Share capital £	Profit and loss account £	Total £
At 1 July 2016	1	75,622	75,623
Profit for the year	-	56,604	56,604
Total comprehensive income	-	56,604	56,604
At 30 June 2017	1	132,226	132,227

The notes on pages 7 to 9 form an integral part of these financial statements.

Page 6

AA Press Engineering Ltd

Notes to the Financial Statements for the Year Ended 30 June 2018

1	General information

The company is a private company limited by share capital incorporated in England.

The address of its registered office is:
110 Oaks Avenue
Worcester Park
Surrey
KT4 8XT

These financial statements were authorised for issue by the director on 31 March 2019.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Page 7

AA Press Engineering Ltd

Notes to the Financial Statements for the Year Ended 30 June 2018

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Vehicles	25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2017 - 1).

4	Profit before tax

Arrived at after charging/(crediting)

	2018 £	2017 £
Depreciation expense	7,391	7,391

Page 8

AA Press Engineering Ltd

Notes to the Financial Statements for the Year Ended 30 June 2018

5	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 July 2017	1,205	34,874	36,079
Disposals	-	(5,218)	(5,218)
At 30 June 2018	1,205	29,656	30,861
Depreciation
At 1 July 2017	1,205	12,520	13,725
Charge for the year	-	7,391	7,391
Eliminated on disposal	-	(5,129)	(5,129)
At 30 June 2018	1,205	14,782	15,987
Carrying amount
At 30 June 2018	-	14,874	14,874
At 30 June 2017	-	22,174	22,174

6

Debtors

	2018 £	2017 £
Trade debtors	46,930	21,862
Other debtors	-	17,869
Total current trade and other debtors	46,930	39,731

7

Creditors

	Note	2018 £	2017 £
Due within one year
Trade creditors		22,754	13,523
Amounts owed to group undertakings and undertakings in which the company has a participating interest		29,049	-
Taxation and social security		11,924	6,087
Other creditors		25,455	28,361
		89,182	47,971