Company Registration No. 08100858 (England and Wales)
ALM CAR AND COMMERCIAL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2020
PAGES FOR FILING WITH REGISTRAR
ALM CAR AND COMMERCIAL LIMITED
BALANCE SHEET
AS AT
30 JUNE 2020
30 June 2020
- 1 -
2020
2019
Notes
£
£
£
£
Fixed assets
Tangible assets
3
5,764
7,071
Current assets
Stocks
1,500
2,000
Debtors
4
34,118
40,198
Cash at bank and in hand
34,942
711
70,560
42,909
Creditors: amounts falling due within one year
5
(31,552)
(13,867)
Net current assets
39,008
29,042
Total assets less current liabilities
44,772
36,113
Creditors: amounts falling due after more than one year
6
(13,896)
(23,680)
Provisions for liabilities - deferred taxation
(1,095)
(1,343)
Net assets
29,781
11,090
Capital and reserves
Called up share capital
7
1
1
Profit and loss reserves
29,780
11,089
Total equity
29,781
11,090
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 June 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
ALM CAR AND COMMERCIAL LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2020
30 June 2020
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 6 November 2020
Mrs H J Glendenning
Director
Company Registration No. 08100858
ALM CAR AND COMMERCIAL LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2020
- 3 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 July 2018
1
8,161
8,162
Year ended 30 June 2019:
Profit and total comprehensive income for the year
-
2,928
2,928
Balance at 30 June 2019
1
11,089
11,090
Year ended 30 June 2020:
Profit and total comprehensive income for the year
-
20,691
20,691
Dividends
-
(2,000)
(2,000)
Balance at 30 June 2020
1
29,780
29,781
ALM CAR AND COMMERCIAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2020
- 4 -
1
Accounting policies
Company information
ALM Car and Commercial Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Unit 3 Enterprise Way, Sherburn in Elmet, Leeds, LS25 6NA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of 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 show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover
represents amounts receivable for work done excluding VAT.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
25% reducing balance
Fixtures and fittings
25% reducing balance
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred taxation 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 tax balance has not been discounted.
ALM CAR AND COMMERCIAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2020
1
Accounting policies
(Continued)
- 5 -
1.6
Government grants
Government grants are recognised at the fair value of the asset receive
d
or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met
. Where a
grant does not specify performance conditions
it
is recognised in income when the proceeds are received or receivable
. A grant received before the recognition criteria are satisfied is recognised as a liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2020
2019
Number
Number
Total
4
4
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2019
9,458
Additions
615
At 30 June 2020
10,073
Depreciation and impairment
At 1 July 2019
2,387
Depreciation charged in the year
1,922
At 30 June 2020
4,309
Carrying amount
At 30 June 2020
5,764
At 30 June 2019
7,071
ALM CAR AND COMMERCIAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2020
- 6 -
4
Debtors
2020
2019
Amounts falling due within one year:
£
£
Trade debtors
34,118
40,133
Other debtors
-
65
34,118
40,198
5
Creditors: amounts falling due within one year
2020
2019
£
£
Bank overdraft
13
-
Trade creditors
17,809
12,745
Taxation and social security
12,826
217
Other creditors
904
905
31,552
13,867
6
Creditors: amounts falling due after more than one year
2020
2019
£
£
Other creditors
13,896
23,680
The other creditors falling due after more than one year is represented by a loan from the shareholder.
7
Called up share capital
2020
2019
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary share of £1
1
1
1
1
8
Directors' transactions
Dividends totalling £2,000 (2019 - £0) were paid in the year in respect of shares held by the company's directors and family members.