Company registration number:
AVS Rainford Limited
for the Year Ended 30 March 2020
AVS Rainford Limited
Contents
Company Information |
|
Accountants' Report |
|
Balance Sheet |
|
Notes to the Unaudited Financial Statements |
AVS Rainford Limited
Company Information
Director |
Mr A J Ashcroft |
Registered office |
|
Accountants |
|
Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
AVS Rainford Limited
for the Year Ended 30 March 2020
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of AVS Rainford Limited for the year ended 30 March 2020 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of AVS Rainford Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of AVS Rainford Limited and state those matters that we have agreed to state to the Board of Directors of AVS Rainford Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than AVS Rainford Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that AVS Rainford Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of AVS Rainford Limited. You consider that AVS Rainford Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of AVS Rainford Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
......................................
Chartered Accountants
St. Helens
Merseyside
WA9 1UA
AVS Rainford Limited
(Registration number: 07228630)
Balance Sheet as at 30 March 2020
Note |
2020 |
2019 |
|
Fixed assets |
|||
Tangible assets |
|
|
|
Current assets |
|||
Cash at bank and in hand |
|
|
|
Creditors: Amounts falling due within one year |
( |
( |
|
Net current liabilities |
( |
( |
|
Total assets less current liabilities |
( |
( |
|
Provisions for liabilities |
( |
( |
|
Net liabilities |
( |
( |
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Profit and loss account |
( |
( |
|
Shareholders' deficit |
( |
( |
For the financial year ending 30 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
|
• |
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.
AVS Rainford Limited
(Registration number: 07228630)
Balance Sheet as at 30 March 2020
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.
Approved and authorised by the
.........................................
Director
AVS Rainford Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 March 2020
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
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
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling which is the functional currency of the entity.
Going concern
The financial statements have been prepared on a going concern basis, the validity of which depends upon future profitable trading and the support of the director. Should the company be unable to continue trading, adjustments would be necessary to reduce the value of assets to their recoverable amount, to provide for further liabilities which might arise and to reclassify fixed assets as current assets.
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.
Deferred tax
Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred taxation has not been discounted.
AVS Rainford Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 March 2020
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Leasehold Improvements |
2% straight line |
Motor vehicles |
25% reducing balance |
Equipment |
20% reducing balance |
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
AVS Rainford Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 March 2020
Tangible assets |
Leasehold property improvements |
Equipment |
Motor vehicles |
Total |
|
Cost or valuation |
||||
At 31 March 2019 |
|
|
|
|
Disposals |
( |
- |
- |
( |
At 30 March 2020 |
- |
|
|
|
Depreciation |
||||
At 31 March 2019 |
|
|
|
|
Charge for the year |
- |
|
|
|
Eliminated on disposal |
( |
- |
- |
( |
At 30 March 2020 |
- |
|
|
|
Carrying amount |
||||
At 30 March 2020 |
- |
|
|
|
At 30 March 2019 |
|
|
|
|
Creditors |
Creditors: amounts falling due within one year
2020 |
2019 |
|
Due within one year |
||
Taxation |
|
- |
Other creditors |
|
|
|
|
Going concern |
Although the financial statements show net current liabilities of £6,565 (2019 - £35,828) and net liabilities of £6,021 (2019 - £6,840), the director is of the opinion that the financial statements can be prepared on a going concern basis on the grounds that the company will continue to receive support from the director and will trade profitably in the future.