A+F Building Services Limited - Filleted accounts

A+F Building Services Limited
Registered number:		04589437
Balance Sheet
at 31 October 2018

Notes			2018			2017
£				£
Fixed assets
Tangible assets	2		525			461

Current assets
Stocks		-			17,992
Debtors	3	4,438			2,771
Cash at bank and in hand		41,581			56,984
		46,019			77,747

Creditors: amounts falling due within one year	4	(42,685)			(75,771)

Net current assets			3,334			1,976

Net assets			3,859			2,437

Capital and reserves
Called up share capital			2			2
Profit and loss account			3,857			2,435

Shareholder's funds			3,859			2,437

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The financial statements have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Andrew Fryatt
Director
The financial statements were approved by the board of directors on 7 December 2018

A+F Building Services Limited
Notes to the Financial statements
for the year ended 31 October 2018


1	Accounting policies

	Basis of preparation
	These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 – The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' ('FRS 102'), and with the Companies Act 2006. The financial statements have been prepared on the historical cost basis and are presented in Sterling (£).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is calculated to write down the cost less estimated residual value of all tangible fixed assets over their expected useful lives, using the straight-line method.

	Equipment	25% per year

	Stocks
	Stocks and work in progress are valued at the lower of cost and estimated net realizable value. Cost is determined on a first in first out basis. The cost of work in progress and finished goods comprises materials, direct labour and attributable production overheads. Net realisable value is based on the estimated sales price after allowing for all further costs of completion and disposal. Attributable profit is recognised once the outcome of work in progress can be assessed with reasonable certainty. Attributable profit is recognised on the cost percentage completion method. Immediate provision is made for all foreseeable losses if a contract is assessed as unprofitable.

	Debtors
	Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

	Creditors
	Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

	Taxation
	Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that that have been enacted or substantively enacted by the reporting date. Deferred tax is calculated using the tax rates and laws that that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference and is recognised in respect of all timing differences at the reporting date, except as otherwise indicated. Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.


2	Tangible fixed assets
					Equipment
£
	Cost
	At 1 November 2017				32,458
	Additions				376
	At 31 October 2018				32,834

	Depreciation
	At 1 November 2017				31,997
	Charge for the year				312
	At 31 October 2018				32,309

	Net book value
	At 31 October 2018				525
	At 31 October 2017				461




3	Debtors		2018		2017
£				£

	Trade debtors		4,438		8
	Other taxes and social security		-		2,763
			4,438		2,771


4	Creditors: amounts falling due within one year		2018		2017
£				£

	Other creditors		29,624		51,162
	Trade creditors		3,374		16,326
	Corporation tax		3,485		6,626
	Other taxes and social security costs		4,807		602
	Accruals and deferred income		1,395		1,055
			42,685		75,771


5	Other information

	A+F Building Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Lower Farm Cottage
	Brinkley Road, Six Mile Bottom
	Newmarket
	CB8 0UN