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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Period |
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29 August 2016 to 31 August 2017 |
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for |
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AE3 Design & Build Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Period |
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29 August 2016 to 31 August 2017 |
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for |
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AE3 Design & Build Limited |
AE3 Design & Build Limited (Registered number: 04659959) |
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Contents of the Financial Statements |
for the Period 29 August 2016 to 31 August 2017 |
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Page |
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Balance Sheet | 1 |
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Notes to the Financial Statements | 2 |
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AE3 Design & Build Limited (Registered number: 04659959) |
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Balance Sheet |
31 August 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT (LIABILITIES)/ASSETS | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
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The financial statements were approved by the director on
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AE3 Design & Build Limited (Registered number: 04659959) |
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Notes to the Financial Statements |
for the Period 29 August 2016 to 31 August 2017 |
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1. | STATUTORY INFORMATION |
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AE3 Design & Build Limited is a
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The company's registered number and registered office address are as below: |
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Registered number: | 04659959 |
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Registered office: | 105 Kenilworth Drive |
Croxley Green |
Rickmansworth |
Hertfordshire |
WD3 3NN |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
These financial statements have been prepared in accordance with Financial Reporting Standard 102 |
"The Financial Reporting Standard applicable in UK and Republic of Ireland" and the Companies Act |
2006 as applicable to companies subject to the small companies regime. The disclosure requirements |
of section 1A of FRS 102 have been applied other than where additional disclosure is required to give |
a true and fair view. |
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The financial statements have been prepared under the historical cost convention. |
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This is the first year in which the financial statements have been prepared under FRS 102. Refer to |
note 10 below for an explanation of the transition. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts |
and value added tax. |
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Turnover from the supply of services represents the value of services provided under contracts to the |
extent that there is a right to consideration and is recorded at the fair value of the consideration |
received or receivable. Where a contract has only been partially completed at the balance sheet date |
turnover represents the fair value of the service provided to date based on the stage of completion and |
the contract activity at the balance sheet date. Where payments are received from customers in |
advance of services provided, the amounts are recorded as deferred income and included as part of |
creditors due within one year. |
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Tangible fixed assets |
Tangible fixed assets are stated at purchase cost together with any incidental expenses of acquisition, |
net of depreciation and any provision for impairment. |
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Depreciation is provided on all tangible assets at rates calculated to write off the cost less estimated |
residual value of each asset over its expected useful life. |
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Plant and machinery | - 20% on cost |
Computer equipment | - 33% on cost |
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Residual value represents the estimated amount which would currently be obtained from disposal of an |
asset after deducting estimated costs of disposal, if the asset were already at an age and in the |
condition expected at the end of its estimated useful life. |
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The need for any fixed asset impairment write down is assessed by comparison of the carrying value |
of the assets against the higher of realisable value and value in use. |
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The gain or loss arising on the disposal of an asset is determined on the difference between the sale |
proceeds and the carrying value of the asset, and is recognised in the profit and loss account. |
AE3 Design & Build Limited (Registered number: 04659959) |
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Notes to the Financial Statements - continued |
for the Period 29 August 2016 to 31 August 2017 |
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2. | ACCOUNTING POLICIES - continued |
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Stocks |
Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent |
to the net realisable value. Cost includes materials, direct labour and an attributable proportion of |
manufacturing overheads based on normal levels of activity. Provision is made for obsolete, |
slow-moving or defective items where appropriate. |
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Taxation |
Current tax, including UK corporation tax is provided at amounts expected to be paid (or recovered) |
using the tax rates and laws that have been enacted or substantively enacted by the balance sheet |
date. |
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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 that result in an obligation to pay more tax in the |
future or a right to pay less tax in the future have occurred at the balance sheet date. Timing |
differences are differences between the company's taxable profits and its results as stated in the |
financial statements that arise from the inclusion of gains and losses in tax assessments in periods |
different from those in which they are recognised in the financial statements. |
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Dividends |
Equity dividends are recognised when they become legally payable. Interim equity dividends are |
recognised when paid. Final equity dividends are recognised when approved by shareholders at an |
Annual General Meeting. |
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Financial instruments |
Financial assets and financial liabilities are recognised when the company becomes a party to the |
contractual provisions of the instrument. |
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Financial liabilities and equity instruments are classified according to the substance of the contractual |
arrangements entered into. An equity instrument is any contract that evidences a residual interest in |
the assets of the company after deducting all of its liabilities. |
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All financial assets and liabilities are initially measured at transaction price (including transaction |
costs), except for those financial assets classified as at fair value through profit and loss, which are |
initially measured at fair value (which is normally the transaction price excluding transaction costs), |
unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing |
transaction, the financial asset or financial liability is measured at the present value of the future |
payments discounted at a market rate of interest for a similar debt instrument. |
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The following assets and liabilities are classified as basic financial instruments - trade debtors, other |
debtors, cash and bank balances, trade creditors, other creditors and bank loans. |
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Trade debtors, other debtors, cash and bank balances, trade creditors and other creditors are |
measured at the amortised cost equivalent to the undiscounted amount of cash or other consideration |
expected to be paid or received. |
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Bank loans are initially measured at the present value of future payments, discounted at a market rate |
of interest and subsequently measured at amortised cost using the effective interest method. |
AE3 Design & Build Limited (Registered number: 04659959) |
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Notes to the Financial Statements - continued |
for the Period 29 August 2016 to 31 August 2017 |
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2. | ACCOUNTING POLICIES - continued |
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Impairment of assets |
Assets, other than those measured at fair value, are assessed for indicators of impairment at each |
balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in |
profit and loss as described below. |
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Non financial assets |
An asset is impaired when there is objective evidence that, as a result of one or more events that |
occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The |
recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. |
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Financial assets |
For financial assets carried at cost less impairment, the impairment loss is the difference between the |
asset's carrying amount and the best estimate of the amount that would be received for the asset if it |
were sold at the reporting date. |
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Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively |
to an event occurring after the impairment was recognised, the prior impairment loss is tested to |
determine reversal. An impairment loss is reversed on an individual impaired financial asset to the |
extent that the revised recoverable value does not lead to a revised carrying amount higher than the |
carrying value had impairment not been recognised. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 29 August 2016 |
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Additions |
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At 31 August 2017 |
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DEPRECIATION |
At 29 August 2016 |
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Charge for period |
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At 31 August 2017 |
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NET BOOK VALUE |
At 31 August 2017 |
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At 28 August 2016 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Amounts recoverable on contract |
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Other debtors |
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AE3 Design & Build Limited (Registered number: 04659959) |
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Notes to the Financial Statements - continued |
for the Period 29 August 2016 to 31 August 2017 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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7. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2017 | 2016 |
£ | £ |
Within one year |
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Between one and five years |
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8. | CALLED UP SHARE CAPITAL |
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2017 | 2016 |
£ | £ |
Allotted, issued and fully paid | 1,000 | 1,000 |
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9. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the period ended 31 August 2017 |
and the year ended 28 August 2016: |
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2017 | 2016 |
£ | £ |
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Balance outstanding at start of period |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period |
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10. | FIRST YEAR ADOPTION |
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This is the first year that the Company has presented its financial statements under Financial |
Reporting Standard 102 (FRS 102) issued by the Financial Reporting Council. The last financial |
statements prepared under the previous UK GAAP were for the year ended 28 August 2016 and the |
date of transition was therefore 29 August 2015. As a consequence of adopting FRS 102 the Director |
is of the opinion that no changes need to be made upon transition to this accounting standard as the |
effect of any changes are not material. |