REGISTERED NUMBER: 02491884 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2017

for

AACS Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

L A Pallister

J Wilkinson

REGISTERED OFFICE:

Unit 49B

Leechmere Industrial Estate

Sunderland

Tyne & Wear

SR2 9TE

REGISTERED NUMBER:

02491884 (England and Wales)

ACCOUNTANTS:

TTR Barnes

Chartered Accountants

3-5 Grange Terrace

Stockton Road

Sunderland

Tyne & Wear

SR2 7DG

BANKERS:

HSBC Bank plc

Unit 49-51

The Bridges Shopping Centre

Sunderland

Tyne and Wear

SR1 3LE

FIXED ASSETS

Tangible assets

4

35,026

39,758

CURRENT ASSETS

Stocks

1,000

8,240

Debtors

5

156,870

129,732

Cash at bank and in hand

28,209

8,361

186,079

146,333

CREDITORS

Amounts falling due within one year

6

149,564

124,060

NET CURRENT ASSETS

36,515

22,273

TOTAL ASSETS LESS CURRENT LIABILITIES

71,541

62,031

CAPITAL AND RESERVES

Called up share capital

98

98

Capital redemption reserve

5

5

Retained earnings

71,438

61,928

SHAREHOLDERS' FUNDS

71,541

62,031

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 24 July 2018 and were signed on its behalf by:

L A Pallister - Director

1.	STATUTORY INFORMATION

AACS 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.

The financial statements have been prepared on the going concern basis, which assumes that the company will

continue in operational existence for the foreseeable future, which the directors consider to be appropriate.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax, except in respect of

service contracts where turnover is recognised when the company obtains the right to consideration.

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

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

Stocks

Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net

realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow

moving, obsolete or damaged stock where the net realisable value is less than cost.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

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.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial

instruments. Basic financial instruments are recognised at transaction value and subsequently measured at their

settlement value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2016 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2017

28,947

85,257

13,330

127,534

Additions

-

14,988

-

14,988

Disposals

-

(20,992

)

-

(20,992

)

At 31 December 2017

28,947

79,253

13,330

121,530

DEPRECIATION

At 1 January 2017

27,640

48,161

11,975

87,776

Charge for year

196

7,268

448

7,912

Eliminated on disposal

-

(9,184

)

-

(9,184

)

At 31 December 2017

27,836

46,245

12,423

86,504

NET BOOK VALUE

At 31 December 2017

1,111

33,008

907

35,026

At 31 December 2016

1,307

37,096

1,355

39,758

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

91,209

98,192

Acrol Air Conditioning Services Limited

49,307

14,770

Tax

3,662

3,662

Prepayments

12,692

13,108

156,870

129,732

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

78,996

59,904

CAPS creditors

14

14

Social security and other taxes

17,935

13,395

Directors' current accounts

50,338

48,287

Accrued expenses

2,281

2,460

149,564

124,060

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2017

2016

£

£

Within one year

8,701

10,162

Between one and five years

4,390

14,130

13,091

24,292

8.

CONTROL

The controlling party is Mrs L A Pallister.