Anglia Air Conditioning Limited - Period Ending 2018-11-30
Anglia Air Conditioning Limited - Period Ending 2018-11-30
Registration number:
Anglia Air Conditioning Limited
for the Year Ended 30 November 2018
Chartered Accountants
1st Floor, Woburn House
84 St Benedicts Street
Norwich
Norfolk,
NR2 4AB
Anglia Air Conditioning Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Anglia Air Conditioning Limited
Company Information
Directors |
Mrs J F Frary Mr D V Frary Mr M R Frary |
Company secretary |
Mr D W Hurrell |
Registered office |
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Accountants |
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Page 1 |
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Anglia Air Conditioning Limited
(Registration number: 00452160)
Balance Sheet as at 30 November 2018
Note |
2018 |
2017 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 30 November 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their 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.
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
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Page 2 |
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Anglia Air Conditioning Limited
Notes to the Financial Statements for the Year Ended 30 November 2018
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Basis of preparation
These financial statements have been prepared using the historical cost convention 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.
The presentation currency is sterling.
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.
Going concern
The financial statements have been prepared on a going concern basis.
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.
Tax policies
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.
Deferred Tax
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.
Page 3 |
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Anglia Air Conditioning Limited
Notes to the Financial Statements for the Year Ended 30 November 2018
Tangible assets
Tangible assets are stated at cost, less any subsequent accumulated depreciation and accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Land and buildings |
2% per annum reducing balance |
Furniture, fittings and equipment |
20% per annum reducing balance |
Motor vehicles |
25% per annum reducing balance |
Computer equipment |
25% per annum straight line |
Plant and equipment |
10% per annum reducing balance |
Inventories
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Leasing and hire purchase contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis.
Defined contribution pension obligation
The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
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Anglia Air Conditioning Limited
Notes to the Financial Statements for the Year Ended 30 November 2018
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Staff numbers |
The average number of persons employed by the company during the year was
Page 5 |
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Anglia Air Conditioning Limited
Notes to the Financial Statements for the Year Ended 30 November 2018
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Computer equipment |
Plant and equipment |
Total |
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Cost or valuation |
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At 1 December 2017 |
175,511 |
17,580 |
146,913 |
21,179 |
31,583 |
392,766 |
Additions |
- |
950 |
24,325 |
621 |
1,195 |
27,091 |
Disposals |
- |
(575) |
(27,835) |
(11,220) |
- |
(39,630) |
At 30 November 2018 |
175,511 |
17,955 |
143,403 |
10,580 |
32,778 |
380,227 |
Depreciation |
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At 1 December 2017 |
58,061 |
14,931 |
62,441 |
19,622 |
21,551 |
176,606 |
Charge for the year |
1,897 |
658 |
22,640 |
555 |
1,023 |
26,773 |
Eliminated on disposal |
- |
(329) |
(18,239) |
(11,207) |
- |
(29,775) |
At 30 November 2018 |
59,958 |
15,260 |
66,842 |
8,970 |
22,574 |
173,604 |
Net book value |
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At 30 November 2018 |
115,553 |
2,695 |
76,561 |
1,610 |
10,204 |
206,623 |
At 30 November 2017 |
117,450 |
2,649 |
84,472 |
1,557 |
10,032 |
216,160 |
Included within the net book value of land and buildings above is £115,553 (2017 - £117,450) in respect of freehold land and buildings.
Page 6 |
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Anglia Air Conditioning Limited
Notes to the Financial Statements for the Year Ended 30 November 2018
Debtors |
2018 |
2017 |
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Trade debtors |
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Other debtors |
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Prepayments and accrued income |
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Creditors |
Creditors: amounts falling due within one year
2018 |
2017 |
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Hire purchase liability |
- |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Other loans |
126,514 |
45,877 |
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Creditors include net obligations under finance lease and hire purchase contracts which are secured of £Nil (2017 - £1,235).
Share capital |
Allotted, called up and fully paid shares
2018 |
2017 |
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No. |
£ |
No. |
£ |
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7,922 |
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7,922 |
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1,320 |
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1,320 |
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1,320 |
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1,320 |
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Page 7 |
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Anglia Air Conditioning Limited
Notes to the Financial Statements for the Year Ended 30 November 2018
Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £
Page 8 |
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