A1 Recovery Specialists Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: NI055814 (Northern Ireland)

A1 Recovery Specialists Limited

Unaudited Financial Statements

for the Year Ended 31 July 2018

Page

Company Information

1

Report of the Accountants

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTOR:

R D Savage

SECRETARY:

Ms A Millar

REGISTERED OFFICE:

66 Killysorrell Road

Dromore

Co. Down

BT25 1LB

REGISTERED NUMBER:

NI055814 (Northern Ireland)

ACCOUNTANTS:

S.M Vint & Company

Chartered Certified Accountants

8 Newry Road

Banbridge

Down

BT32 3HN

The following reproduces the text of the report prepared for the director in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act

2006, the company is only required to file a Balance Sheet. Readers are cautioned that the

Income Statement and certain other primary statements and the Report of the Director are

not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 July 2018 set out on pages four to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

S.M Vint & Company

Chartered Certified Accountants

8 Newry Road

Banbridge

Down

BT32 3HN

18 April 2019

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

42,006

39,283

42,006

39,283

CURRENT ASSETS

Stocks

1,830

-

Debtors

6

5,888

4,337

Cash at bank

3,397

6,041

11,115

10,378

CREDITORS

Amounts falling due within one year

7

42,591

33,956

NET CURRENT LIABILITIES

(31,476

)

(23,578

)

TOTAL ASSETS LESS CURRENT LIABILITIES

10,530

15,705

CREDITORS

Amounts falling due after more than one year

8

(1,932

)

(2,005

)

PROVISIONS FOR LIABILITIES

(6,779

)

(7,231

)

ACCRUALS AND DEFERRED INCOME

-

(2,503

)

NET ASSETS

1,819

3,966

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

1,817

3,964

SHAREHOLDERS' FUNDS

1,819

3,966

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 18 April 2019 and were signed by:

R D Savage - Director

1.	STATUTORY INFORMATION

A1 Recovery Specialists Limited is a private company, limited by shares , registered in

Northern Ireland. The company's registered number and registered office address can be

found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income

Statement, except to the extent that it relates to items recognised in other comprehensive

income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that

have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not

reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in

periods different from those in which they are recognised in financial statements. Deferred

tax is measured using tax rates and laws that have been enacted or substantively enacted

by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it

is probable that they will be recovered against the reversal of deferred tax liabilities or other

future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over

the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2017 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 August 2017

and 31 July 2018

10,000

AMORTISATION

At 1 August 2017

and 31 July 2018

10,000

NET BOOK VALUE

At 31 July 2018

-

At 31 July 2017

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 August 2017

77,388

16,076

3,000

96,464

Additions

12,900

324

-

13,224

At 31 July 2018

90,288

16,400

3,000

109,688

DEPRECIATION

At 1 August 2017

41,738

13,229

2,214

57,181

Charge for year

9,710

634

157

10,501

At 31 July 2018

51,448

13,863

2,371

67,682

NET BOOK VALUE

At 31 July 2018

38,840

2,537

629

42,006

At 31 July 2017

35,650

2,847

786

39,283

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

5,888

4,337

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

2,636

3,744

Trade creditors

299

371

Taxation and social security

24,243

18,894

Other creditors

15,413

10,947

42,591

33,956

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans

1,932

2,005