Registration number:
Aston Interiors Ltd
for the Year Ended 31 January 2018
Chartered Accountants
Trym Lodge
1 Henbury Road
Westbury on Trym
Bristol
BS9 3HQ
Aston Interiors Ltd
Contents
Company Information |
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Director's Report |
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Statement of Income and Retained Earnings |
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Balance Sheet |
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Notes to the Financial Statements |
Aston Interiors Ltd
Company Information
Director |
Mourad Tahari |
Registered office |
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Accountants |
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Page 1 |
Aston Interiors Ltd
Director's Report for the Year Ended 31 January 2018
The director presents his report and the financial statements for the year ended 31 January 2018.
Director of the company
The director who held office during the year was as follows:
Principal activity
The principal activity of the company is the retail and installation of home improvements.
Going concern
The director has undertaken to fund the company as necessary, for the forseeable future.
Small companies provision statement
This report has 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.
Approved by the
.........................................
Director
Page 2 |
Aston Interiors Ltd
Profit and Loss Account and Statement of Retained Earnings for the Year Ended 31 January 2018
Note |
2018 |
2017 |
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Turnover |
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Cost of sales |
( |
( |
|
Gross profit |
|
|
|
Administrative expenses |
( |
( |
|
Operating profit/(loss) |
|
( |
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Interest payable and similar charges |
( |
( |
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(319) |
(462) |
||
Profit/(loss) before tax |
|
( |
|
Profit/(loss) for the financial year |
|
( |
|
Retained earnings brought forward |
(37,364) |
(21,873) |
|
Retained earnings carried forward |
(33,881) |
(37,365) |
Page 3 |
Aston Interiors Ltd
(Registration number: 05665290)
Balance Sheet as at 31 January 2018
Note |
2018 |
2017 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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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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Net liabilities |
( |
( |
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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 |
( |
( |
For the financial year ending 31 January 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.
Page 4 |
Aston Interiors Ltd
(Registration number: 05665290)
Balance Sheet as at 31 January 2018
Approved and authorised by the
.........................................
Director
Page 5 |
Aston Interiors Ltd
Notes to the Financial Statements for the Year Ended 31 January 2018
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
England
These financial statements were authorised for issue by the
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 goods and 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.
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.
Page 6 |
Aston Interiors Ltd
Notes to the Financial Statements for the Year Ended 31 January 2018
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
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.
Page 7 |
Aston Interiors Ltd
Notes to the Financial Statements for the Year Ended 31 January 2018
Tangible assets |
Other tangible assets |
Total |
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Cost or valuation |
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At 1 February 2017 |
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At 31 January 2018 |
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Depreciation |
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At 1 February 2017 |
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At 31 January 2018 |
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Carrying amount |
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At 31 January 2018 |
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At 31 January 2017 |
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Stocks |
2018 |
2017 |
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Other inventories |
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Debtors |
2018 |
2017 |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
Note |
2018 |
2017 |
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Due within one year |
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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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Creditors: amounts falling due after more than one year
Page 8 |
Aston Interiors Ltd
Notes to the Financial Statements for the Year Ended 31 January 2018
Note |
2018 |
2017 |
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Due after one year |
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Loans and borrowings |
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Share capital |
Allotted, called up and fully paid shares
2018 |
2017 |
|||
No. |
£ |
No. |
£ |
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Ordinary Shares of £1 each |
10 |
10 |
10 |
10 |
Related party transactions |
Directors' remuneration
The director's remuneration for the year was as follows:
2018 |
2017 |
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Remuneration |
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Page 9 |