A B Electrical Services Ltd Company Accounts

COMPANY REGISTRATION NUMBER: 03895958

A B Electrical Services Ltd

Filleted Unaudited Financial Statements

For the year ended

31 July 2017

A B Electrical Services Ltd

Financial Statements

Year ended 31 July 2017

Contents	Page

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	3

The following pages do not form part of the financial statements

Chartered accountant's report to the director on the preparation of the unaudited statutory financial statements	7

A B Electrical Services Ltd

Officers and Professional Advisers

Director	Mr K Moore

Company secretary	Mrs L Lear

Registered office	550 Valley Road
	Basford
	Nottingham
	NG5 1JJ

Accountants	Swandec
	Chartered accountant
	550 Valley Road
	Basford
	Nottingham
	NG5 1JJ

Bankers	The Royal Bank of Scotland Plc
	8 South Parade
	Nottingham
	NG1 2JS

A B Electrical Services Ltd

Statement of Financial Position

31 July 2017

	2017		2016
Note	£	£	£

Fixed assets

Tangible assets	4		3,071	4,019

Current assets

Debtors	5	36,678	37,966
Cash at bank and in hand		–	7,000
		--------	--------
		36,678	44,966

Creditors: amounts falling due within one year	6	39,560		42,488
		--------		--------
Net current (liabilities)/assets			( 2,882)	2,478
			-------	-------
Total assets less current liabilities			189	6,497
			----	-------
Net assets			189	6,497
			----	-------

Capital and reserves

Called up share capital	7	100	100
Profit and loss account		89	6,397
		----	-------
Members funds		189	6,497
		----	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the year ending 31 July 2017 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 financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 30 April 2018 , and are signed on behalf of the board by:

Mr K Moore
Director

Company registration number: 03895958

A B Electrical Services Ltd

Notes to the Financial Statements

Year ended 31 July 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 550 Valley Road, Basford, Nottingham, NG5 1JJ.

2. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 August 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 9.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Motor vehicles	-	25% reducing balance
Equipment	-	20% reducing balance

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

3. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2016: 2 ).

4. Tangible assets

	Motor vehicles	Equipment	Total
	£	£	£
Cost
At 1 August 2016 and 31 July 2017	27,604	6,605	34,209
	--------	-------	--------
Depreciation
At 1 August 2016	24,728	5,462	30,190
Charge for the year	719	229	948
	--------	-------	--------
At 31 July 2017	25,447	5,691	31,138
	--------	-------	--------
Carrying amount
At 31 July 2017	2,157	914	3,071
	--------	-------	--------
At 31 July 2016	2,876	1,143	4,019
	--------	-------	--------

5. Debtors

	2017	2016
	£	£
Trade debtors	36,678	34,317
Other debtors	–	3,649
	--------	--------
	36,678	37,966
	--------	--------

6. Creditors: amounts falling due within one year

	2017	2016
	£	£
Bank loans and overdrafts	12,393	19,398
Trade creditors	14,124	6,964
Corporation tax	–	1,005
Social security and other taxes	7,677	13,621
Other creditors	5,366	1,500
	--------	--------
	39,560	42,488
	--------	--------

7. Called up share capital

Issued, called up and fully paid

	2017		2016
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----

8. Director's advances, credits and guarantees

At the statement of financial position date the amount owing to the directors through the directors loan account was £4,066 (2016:£3,649). The directors loan is unsecured, interest free and repayable on demand.

9. Transition to FRS 102

These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 August 2015.

No transitional adjustments were required in equity or profit or loss for the year.

A B Electrical Services Ltd

Management Information

Year ended 31 July 2017

The following pages do not form part of the financial statements.

A B Electrical Services Ltd

Chartered Accountant's Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of A B Electrical Services Ltd

Year ended 31 July 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of A B Electrical Services Ltd for the year ended 31 July 2017, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of A B Electrical Services Ltd in accordance with the terms of our engagement letter dated 14 April 2017. Our work has been undertaken solely to prepare for your approval the financial statements of A B Electrical Services Ltd and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than A B Electrical Services Ltd and its director for our work or for this report.

It is your duty to ensure that A B Electrical Services Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of A B Electrical Services Ltd. You consider that A B Electrical Services Ltd is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of A B Electrical Services Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Swandec Chartered accountant

550 Valley Road Basford Nottingham NG5 1JJ

30 April 2018