REGISTERED NUMBER: 03488384 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

FOR

AARDVARK ART SERVICES LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr M Eames

Mr M Filipo

REGISTERED OFFICE:

17 Moor Park Avenue

Preston

Lancashire

PR1 6AS

REGISTERED NUMBER:

03488384 (England and Wales)

ACCOUNTANTS:

SBCA Chartered Accountants

17 Moor Park Avenue

Preston

Lancashire

PR1 6AS

FIXED ASSETS

Tangible assets

4

112,167

115,705

Investments

5

992

992

113,159

116,697

CURRENT ASSETS

Debtors

6

68,746

58,750

Cash at bank

14,948

27,448

83,694

86,198

CREDITORS

Amounts falling due within one year

7

(126,128

)

(141,843

)

NET CURRENT LIABILITIES

(42,434

)

(55,645

)

TOTAL ASSETS LESS CURRENT LIABILITIES

70,725

61,052

CREDITORS

Amounts falling due after more than one year

8

(59,204

)

(44,314

)

PROVISIONS FOR LIABILITIES

9

(12,006

)

(16,236

)

NET (LIABILITIES)/ASSETS

(485

)

502

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

11

(585

)

402

SHAREHOLDERS' FUNDS

(485

)

502

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 3 May 2018 and were signed on its behalf by:

Mr M Eames - Director

Mr M Filipo - Director

1.	STATUTORY INFORMATION

Aardvark Art Services Ltd 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.

These accounts have been prepared on a going concern basis, on the understanding that the Directors will continue to financially support the company during this period.

Turnover

Turnover represents net invoiced services,excluding value added tax.

Tangible fixed assets

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

Long leasehold

-

5% on cost

Plant and machinery

-

15% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on 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 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.

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 16 (2016 - 16 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

leasehold

machinery

fittings

£

£

£

COST

At 1 January 2017

40,611

1,200

414

At 31 December 2017

40,611

1,200

414

DEPRECIATION

At 1 January 2017

6,087

720

228

Charge for year

2,030

180

82

Eliminated on disposal

-

-

-

At 31 December 2017

8,117

900

310

NET BOOK VALUE

At 31 December 2017

32,494

300

104

At 31 December 2016

34,524

480

186

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2017

149,172

5,463

196,860

Additions

57,950

-

57,950

Disposals

(65,182

)

-

(65,182

)

At 31 December 2017

141,940

5,463

189,628

DEPRECIATION

At 1 January 2017

68,658

5,462

81,155

Charge for year

27,988

-

30,280

Eliminated on disposal

(33,974

)

-

(33,974

)

At 31 December 2017

62,672

5,462

77,461

NET BOOK VALUE

At 31 December 2017

79,268

1

112,167

At 31 December 2016

80,514

1

115,705

Included in the above are motor vehicles held under Hire Purchase agreements with a Net Book Value of £ 79,268 (2016: £80,514).

Depreciation charged in the year on the asset amounts to £27,988 (2015: £32,730).

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2017

and 31 December 2017

992

NET BOOK VALUE

At 31 December 2017

992

At 31 December 2016

992

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Trade debtors

57,695

52,775

Directors' current accounts

4,101

128

Prepayments

6,950

5,847

68,746

58,750

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Bank loans and overdrafts

7,122

12,989

Hire purchase contracts

31,315

34,984

Trade creditors

14,699

17,128

Tax

15,846

5,704

Social security and other taxes

11,209

6,946

VAT

27,241

31,093

Other creditors

506

696

Directors' current accounts

-

131

Accrued expenses

18,190

32,172

126,128

141,843

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.17

31.12.16

£

£

Hire purchase contracts

59,204

44,314

9.	PROVISIONS FOR LIABILITIES

31.12.17

31.12.16

£

£

Deferred tax

12,006

16,236

Deferred

tax

£

Balance at 1 January 2017

16,236

Provided during year

(4,230

)

Balance at 31 December 2017

12,006

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.17

31.12.16

value:

£

£

100

Ordinary

£1

100

100

11.

RESERVES

Retained

earnings

£

At 1 January 2017

402

Profit for the year

64,789

Dividends

(65,776

)

At 31 December 2017

(585

)

12.	RELATED PARTY DISCLOSURES

During the year dividends of £65,776 (2016: £64,528) were paid to the shareholders.

13.	ULTIMATE CONTROLLING PARTY

The company is controlled equally by the Directors.