Company Registration No. 04702123 (England and Wales)
A.J. Welding & Safety Supplies Limited
Filleted accounts
for the year ended 28 February 2019
A.J. Welding & Safety Supplies Limited
Filleted accounts
Contents
A.J. Welding & Safety Supplies Limited
Company Information
for the year ended 28 February 2019
Company Number
04702123 (England and Wales)
Registered Office
Tony Turner Accountants
Spencer House, Market Lane
Swalwell
Tyne and Wear
NE16 3DS
Accountants
Tony Turner Accountants
Spencer House
Market Lane
Swalwell
Tyne and Wear
NE16 3DS
A.J. Welding & Safety Supplies Limited
Statement of financial position
as at
28 February 2019
Tangible assets
1,352
1,591
Inventories
14,970
14,750
Cash at bank and in hand
(589)
4,631
Creditors: amounts falling due within one year
(29,797)
(23,086)
Net current assets
3,975
12,322
Called up share capital
100
100
Profit and loss account
5,227
13,813
Shareholders' funds
5,327
13,913
For the year ending 28 February 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 29 April 2019.
A L Nichols
Director
Company Registration No. 04702123
A.J. Welding & Safety Supplies Limited
Notes to the Accounts
for the year ended 28 February 2019
A.J. Welding & Safety Supplies Limited is a private company, limited by shares, registered in England and Wales, registration number 04702123. The registered office is Tony Turner Accountants, Spencer House, Market Lane, Swalwell, Tyne and Wear, NE16 3DS.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% Reducing Balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
A.J. Welding & Safety Supplies Limited
Notes to the Accounts
for the year ended 28 February 2019
4
Tangible fixed assets
Plant & machinery
Cost or valuation
At cost
At 28 February 2019
15,500
At 28 February 2019
14,148
At 28 February 2019
1,352
At 28 February 2018
1,591
Trade debtors
15,439
14,087
Deferred tax asset
3,952
1,940
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Creditors: amounts falling due within one year
2019
2018
Trade creditors
4,524
2,299
Taxes and social security
(172)
272
Loans from directors
23,445
18,515
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Deferred taxation
2019
2018
Accelerated capital allowances
78
83
Tax losses carried forward
(4,030)
(2,023)
A.J. Welding & Safety Supplies Limited
Notes to the Accounts
for the year ended 28 February 2019
Provision at start of year
(1,940)
(654)
Credited to the profit and loss account
(2,012)
(1,286)
Provision at end of year
(3,952)
(1,940)
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Share capital
2019
2018
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
During the entire financial year the company was under the control of its sole director, Mr A L Nichols.
11
Average number of employees
During the year the average number of employees was 1 (2018: 1).