31/07/2018
2018-07-31
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No description of principal activities is disclosed
2017-08-01
Sage Accounts Production 18.30 - FRS
xbrli:pure
xbrli:shares
iso4217:GBP
05964750
2017-08-01
2018-07-31
05964750
2018-07-31
05964750
2017-07-31
05964750
2016-08-01
2017-07-31
05964750
2017-07-31
05964750
core:FurnitureFittingsToolsEquipment
2017-08-01
2018-07-31
05964750
core:NetGoodwill
2017-08-01
2018-07-31
05964750
bus:Director1
2017-08-01
2018-07-31
05964750
core:WithinOneYear
2018-07-31
05964750
core:WithinOneYear
2017-07-31
05964750
core:AfterOneYear
2018-07-31
05964750
core:AfterOneYear
2017-07-31
05964750
core:ShareCapital
2018-07-31
05964750
core:ShareCapital
2017-07-31
05964750
core:RetainedEarningsAccumulatedLosses
2018-07-31
05964750
core:RetainedEarningsAccumulatedLosses
2017-07-31
05964750
bus:Director1
2017-07-31
05964750
bus:Director1
2018-07-31
05964750
bus:Director1
2016-07-31
05964750
bus:Director1
2017-07-31
05964750
bus:Director1
2016-08-01
2017-07-31
05964750
bus:SmallEntities
2017-08-01
2018-07-31
05964750
bus:AuditExempt-NoAccountantsReport
2017-08-01
2018-07-31
05964750
bus:AbridgedAccounts
2017-08-01
2018-07-31
05964750
bus:SmallCompaniesRegimeForAccounts
2017-08-01
2018-07-31
05964750
bus:PrivateLimitedCompanyLtd
2017-08-01
2018-07-31
05964750
core:LandBuildings
core:ShortLeaseholdAssets
2017-08-01
2018-07-31
Statement of consent to prepare abridged financial statements
All of the members of A & S Tooling (UK) Limited have consented to the preparation of the abridged income statement and the abridged statement of financial position for the current year ending 31 July 2018 in accordance with Section 444(2A) of the Companies Act 2006.
Company registration number:
05964750
A & S Tooling (UK) Limited
Unaudited filleted abridged financial statements
31 July 2018
A & S Tooling (UK) Limited
Contents
Abridged statement of financial position
Notes to the financial statements
A & S Tooling (UK) Limited
Abridged statement of financial position
31 July 2018
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2018
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2017
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Note
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£
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£
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£
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£
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|
|
|
|
Fixed assets
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|
|
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|
|
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Intangible assets
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5
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19,000
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38,000
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|
|
Tangible assets
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|
6
|
457,024
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|
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533,227
|
|
|
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_______
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_______
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476,024
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571,227
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Current assets
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Stocks
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5,995
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15,000
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Debtors
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236,231
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242,745
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Cash at bank and in hand
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334,724
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243,150
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_______
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_______
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576,950
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500,895
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Creditors: amounts falling due
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within one year
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(
301,985)
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(
249,961)
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|
_______
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_______
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Net current assets
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274,965
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250,934
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|
_______
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_______
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Total assets less current liabilities
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750,989
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822,161
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Creditors: amounts falling due
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after more than one year
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(
106,908)
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(
179,041)
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Provisions for liabilities
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(
106,130)
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(
113,809)
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|
|
|
|
|
|
|
|
|
|
|
|
_______
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|
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_______
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Net assets
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537,951
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529,311
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_______
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_______
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Capital and reserves
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Called up share capital
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100
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100
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Profit and loss account
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537,851
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529,211
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_______
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_______
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Shareholders funds
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537,951
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529,311
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_______
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_______
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For the year ending 31 July 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged income statement has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
04 March 2019
, and are signed on behalf of the board by:
Mr J R Smith
Director
Company registration number:
05964750
A & S Tooling (UK) Limited
Notes to the financial statements
Year ended 31 July 2018
1.
General information
The company is a private company limited by shares, registered in England. The address of the registered office is 9a Leicester Road, Blaby, Leicester.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods falling within the company's ordinary activities
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
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Short leasehold property
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-
|
Straight line over life of the lease
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Fittings fixtures and equipment
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-
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15 %
|
reducing balance
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If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
11
(2017:
11
).
5.
Intangible assets
£
Cost
At 1 August 2017 and 31 July 2018
190,000
_______
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Amortisation
At 1 August 2017
152,000
Charge for the year
19,000
_______
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At 31 July 2018
171,000
_______
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Carrying amount
At 31 July 2018
19,000
_______
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At 31 July 2017
38,000
_______
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6.
Tangible assets
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£
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Cost
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At 1 August 2017
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986,883
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Additions
|
4,447
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_______
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At 31 July 2018
|
991,330
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_______
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Depreciation
|
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At 1 August 2017
|
453,655
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Charge for the year
|
80,651
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|
|
|
|
|
|
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_______
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|
At 31 July 2018
|
534,306
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|
|
|
|
|
|
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_______
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Carrying amount
|
|
|
|
|
|
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|
|
At 31 July 2018
|
457,024
|
|
|
|
|
|
|
|
|
_______
|
|
|
|
|
|
|
|
At 31 July 2017
|
533,228
|
|
|
|
|
|
|
|
|
_______
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|
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7.
Directors advances, credits and guarantees
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During the year the director entered into the following advances and credits with the company:
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2018
|
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Balance brought forward
|
Advances /(credits) to the director
|
Balance o/standing
|
|
|
|
|
|
£
|
£
|
£
|
|
|
|
|
Mr J R Smith
|
(
1,928)
|
(
2,215)
|
(
4,143)
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
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|
|
2017
|
|
|
|
|
|
|
|
|
|
Balance brought forward
|
Advances /(credits) to the director
|
Balance o/standing
|
|
|
|
|
|
£
|
£
|
£
|
|
|
|
|
Mr J R Smith
|
(
511)
|
(
1,417)
|
(
1,928)
|
|
|
|
|
|
_______
|
_______
|
_______
|
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