Registration number:
A & H Site Services Limited
for the Year Ended 28 February 2018
Chartered Accountants
Carleton House
136 Gray Street
Workington
Cumbria
CA14 2LU
A & H Site Services Limited
Contents
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Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
A & H Site Services Limited
Company Information
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Director |
Mr A J Hartley |
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Registered office |
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Bankers |
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Accountants |
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Page 1 |
A & H Site Services Limited
(Registration number: 4643181)
Balance Sheet as at 28 February 2018
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Note |
2018 |
2017 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Debtors |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
( |
( |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net liabilities |
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( |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 28 February 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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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.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
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Page 2 |
A & H Site Services Limited
(Registration number: 4643181)
Balance Sheet as at 28 February 2018
Approved and authorised by the
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Mr A J Hartley
Director
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Page 3 |
A & H Site Services Limited
Notes to the Financial Statements for the Year Ended 28 February 2018
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General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
England
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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 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 and deferred 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.
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Page 4 |
A & H Site Services Limited
Notes to the Financial Statements for the Year Ended 28 February 2018
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
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.
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:
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Asset class |
Depreciation method and rate |
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Office equipment |
25% straight line basis |
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Motor vehicles |
25% reducing balance basis |
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Plant and equipment |
15% reducing balance basis |
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
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Asset class |
Amortisation method and rate |
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Goodwill |
20% straight line basis |
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Franchise costs |
20% straight line basis |
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.
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Page 5 |
A & H Site Services Limited
Notes to the Financial Statements for the Year Ended 28 February 2018
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.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease. Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
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.
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Page 6 |
A & H Site Services Limited
Notes to the Financial Statements for the Year Ended 28 February 2018
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Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
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Intangible assets |
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Goodwill |
Franchise costs |
Total |
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Cost or valuation |
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At 1 March 2017 |
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At 28 February 2018 |
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Amortisation |
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At 1 March 2017 |
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Amortisation charge |
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At 28 February 2018 |
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Carrying amount |
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At 28 February 2018 |
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At 28 February 2017 |
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Tangible assets |
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Office equipment |
Motor vehicles |
Plant and equipment |
Total |
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Cost or valuation |
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At 1 March 2017 |
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At 28 February 2018 |
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Depreciation |
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At 1 March 2017 |
- |
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Charge for the year |
- |
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At 28 February 2018 |
- |
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Carrying amount |
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At 28 February 2018 |
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At 28 February 2017 |
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Page 7 |
A & H Site Services Limited
Notes to the Financial Statements for the Year Ended 28 February 2018
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Debtors |
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2018 |
2017 |
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Trade debtors |
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Other debtors |
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Total current trade and other debtors |
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Creditors |
Creditors: amounts falling due within one year
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Note |
2018 |
2017 |
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Due within one year |
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Bank overdrafts and obligations under hire purchase and finance lease agreements |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Taxation and social security |
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Other creditors |
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Due after one year |
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Obligations under hire purchase and finance lease agreements |
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Share capital |
Allotted, called up and fully paid shares
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2018 |
2017 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
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Page 8 |
A & H Site Services Limited
Notes to the Financial Statements for the Year Ended 28 February 2018
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Loans and borrowings |
Bank borrowings
The bank overdraft is secured against a fixed and floating charge over the company's assets. The balance as at 28 February 2018 is £12,234 (2017 - £5,756).
Other borrowings
The Hire Purchase agreements are secured against the underlying assets held under the agreements. The balances as at 28 February 2018 is £6,881 (2017 - £13,062).
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Page 9 |