All Purpose Cleaning and Catering Supplies Ltd 31/03/2019 iXBRL

All Purpose Cleaning and Catering Supplies Ltd 31/03/2019 iXBRL

ALL PURPOSE CLEANING AND CATERING SUPPLIES LTD - Company Information

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Company registration number: 03713077
All Purpose Cleaning and Catering Supplies Ltd
Unaudited filleted financial statements
31 March 2019
Coulter & Co
Chartered Accountants
All Purpose Cleaning and Catering Supplies Ltd
Contents
Directors and other information
Directors report
Accountants report
Statement of financial position
Notes to the financial statements
All Purpose Cleaning and Catering Supplies Ltd
Directors and other information
Directors Kevin Ashby
Julie Ashby
Company number 03713077
Registered office Friars Well Business Estate
North Drive
Wartnaby
Leicestershire
LE14 3HQ
Business address Friars Well Business Estate
North Drive
Wartnaby
Leicestershire
LE14 3HQ
Accountants Coulter & Co
1st floor
4 Sherrard Street
Melton Mowbray
Leicestershire
LE13 1XJ
All Purpose Cleaning and Catering Supplies Ltd
Directors report
Year ended 31 March 2019
The directors present their report and the unaudited financial statements of the company for the year ended 31 March 2019.
Directors
The directors who served the company during the year were as follows:
Kevin Ashby
Julie Ashby
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 30 April 2019 and signed on behalf of the board by:
Kevin Ashby
Director
All Purpose Cleaning and Catering Supplies Ltd
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of All Purpose Cleaning and Catering Supplies Ltd
Year ended 31 March 2019
As described on the Statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 March 2019, as set out on pages 4 to 9.
You consider that the company is exempt from an audit under the Companies Act 2006. 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 from information and explanations supplied to us.
Coulter & Co
Chartered Accountants
1st floor
4 Sherrard Street
Melton Mowbray
Leicestershire
LE13 1XJ
30 April 2019
All Purpose Cleaning and Catering Supplies Ltd
Statement of financial position
31 March 2019
2019 2018
Note £ £ £ £
Fixed assets
Tangible assets 5 31,933 17,995
_______ _______
31,933 17,995
Current assets
Stocks 185,356 164,870
Debtors 6 485,232 528,155
Cash at bank and in hand 356,035 214,348
_______ _______
1,026,623 907,373
Creditors: amounts falling due
within one year 7 ( 600,316) ( 524,104)
_______ _______
Net current assets 426,307 383,269
_______ _______
Total assets less current liabilities 458,240 401,264
Creditors: amounts falling due
after more than one year 8 - ( 746)
Provisions for liabilities ( 6,067) ( 3,419)
_______ _______
Net assets 452,173 397,099
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 452,073 396,999
_______ _______
Shareholders funds 452,173 397,099
_______ _______
For the year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors 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 directors acknowledge 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 statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 30 April 2019 , and are signed on behalf of the board by:
Kevin Ashby
Director
Company registration number: 03713077
All Purpose Cleaning and Catering Supplies Ltd
Notes to the financial statements
Year ended 31 March 2019
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Friars Well Business Estate, North Drive, Wartnaby, Leicestershire, LE14 3HQ.
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 is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
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:
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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
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.
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. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 17 (2018: 14 ).
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 April 2018 9,102 32,284 19,209 60,595
Additions 17,213 5,727 - 22,940
_______ _______ _______ _______
At 31 March 2019 26,315 38,011 19,209 83,535
_______ _______ _______ _______
Depreciation
At 1 April 2018 5,373 19,438 17,789 42,600
Charge for the year 4,190 4,457 355 9,002
_______ _______ _______ _______
At 31 March 2019 9,563 23,895 18,144 51,602
_______ _______ _______ _______
Carrying amount
At 31 March 2019 16,752 14,116 1,065 31,933
_______ _______ _______ _______
At 31 March 2018 3,729 12,846 1,420 17,995
_______ _______ _______ _______
6. Debtors
2019 2018
£ £
Trade debtors 483,787 526,278
Other debtors 1,445 1,877
_______ _______
485,232 528,155
_______ _______
7. Creditors: amounts falling due within one year
2019 2018
£ £
Trade creditors 531,844 437,936
Corporation tax 38,350 50,000
Social security and other taxes 24,987 31,721
Other creditors 5,135 4,447
_______ _______
600,316 524,104
_______ _______
8. Creditors: amounts falling due after more than one year
2019 2018
£ £
Bank loans and overdrafts - 746
_______ _______
9. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2019
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Kevin Ashby ( 803) 708 ( 95)
_______ _______ _______
2018
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Kevin Ashby ( 394) ( 409) ( 803)
_______ _______ _______