REGISTERED NUMBER: 05955439 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2017

FOR

A & M ELECTRICS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr S Andrews

SECRETARY:

Mrs C Andrews

REGISTERED OFFICE:

Fleming Court

Leigh Road

Eastleigh

Southampton

Hampshire

SO50 9PD

BUSINESS ADDRESS:

27 Ferndale Road

Andover

Hampshire

SP10 3HQ

REGISTERED NUMBER:

05955439 (England and Wales)

FIXED ASSETS

Tangible assets

5

7,167

8,593

CURRENT ASSETS

Stocks

4,500

4,500

Debtors

6

17,404

23,998

Cash at bank

11,816

2,451

33,720

30,949

CREDITORS

Amounts falling due within one year

7

38,958

31,936

NET CURRENT LIABILITIES

(5,238

)

(987

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,929

7,606

CREDITORS

Amounts falling due after more than one year

8

-

(9,258

)

PROVISIONS FOR LIABILITIES

(1,362

)

(1,391

)

NET ASSETS/(LIABILITIES)

567

(3,043

)

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

467

(3,143

)

SHAREHOLDERS' FUNDS

567

(3,043

)

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

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

The director acknowledges his 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 director on 11 July 2018 and were signed by:

Mr S Andrews - Director

1.	STATUTORY INFORMATION

A & M Electrics 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

This is the first year that the company has presented its financial statements under Section 1A "Small Entities" of

Financial Reporting Standard 102 (FRS 102 Section 1A) issued by the Financial Reporting Council. The last

financial statements, for the year ended 31st October 2016, were prepared under previous UK GAAP. The

transition date to FRS 102 Section 1A is therefore 1st November 2015.

Adopting FRS 102 Section 1A has not resulted in any changes to the company's existing accounting policies

which were being applied prior to transition. There was no change to the reported profit and loss account or

closing equity position of the business for the year ended 31st October 2016 as a result of the transition, nor to

opening equity positions at the date of transition.

Turnover

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of

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.

Equipment

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Office Equipment

-

25% on reducing balance

All fixed assets are initially recorded at 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling

at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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

Financial instruments are classified and accounted for, according to the substance of the contractual

arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any

contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with

the lessor are charged against profits on a straight line basis over the period of the lease.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2016 - 2 ) .

5.	TANGIBLE FIXED ASSETS

Motor

Office

Equipment

vehicles

Equipment

Totals

£

£

£

£

COST

At 1 November 2016

955

14,515

378

15,848

Additions

308

-

495

803

At 31 October 2017

1,263

14,515

873

16,651

DEPRECIATION

At 1 November 2016

553

6,353

349

7,255

Charge for year

107

2,041

81

2,229

At 31 October 2017

660

8,394

430

9,484

NET BOOK VALUE

At 31 October 2017

603

6,121

443

7,167

At 31 October 2016

402

8,162

29

8,593

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

12,948

15,260

Other debtors

4,456

8,738

17,404

23,998

Included in other debtors is £1,388 (2016 - £1,406) in relation to prepayments and accrued income.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Hire purchase contracts

9,258

2,400

Taxation and social security

8,590

5,189

Other creditors

21,110

24,347

38,958

31,936

Included in other creditors is £1,438 (2016 - £1,400) in relation to accruals and deferred income.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts

-

9,258

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

60

Ordinary A

£1

60

60

40

Ordinary B

£1

40

40

100

100