Accelerator Solutions Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04123923 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2018

for

Accelerator Solutions Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

H Hopkins

Mrs H Daniell

SECRETARY:

Ms K Smith

REGISTERED OFFICE:

First Floor

29 St Augustine's Parade

Bristol

BS1 4UL

REGISTERED NUMBER:

04123923 (England and Wales)

ACCOUNTANTS:

Moore Stephens

Chartered Accountants

30 Gay Street

Bath

BA1 2PA

FIXED ASSETS

Intangible assets

4

5,791

8,576

Tangible assets

5

5,967

7,154

Investments

6

500

500

12,258

16,230

CURRENT ASSETS

Stocks

258

3,509

Debtors

7

161,950

271,851

Cash at bank and in hand

219,159

182,383

381,367

457,743

CREDITORS

Amounts falling due within one year

8

147,136

189,656

NET CURRENT ASSETS

234,231

268,087

TOTAL ASSETS LESS CURRENT LIABILITIES

246,489

284,317

PROVISIONS FOR LIABILITIES

1,242

1,467

NET ASSETS

245,247

282,850

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

245,147

282,750

SHAREHOLDERS' FUNDS

245,247

282,850

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

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

The directors acknowledge their 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 Board of Directors on 5 September 2019 and were signed on its behalf by:

H Hopkins - Director

1.	STATUTORY INFORMATION

Accelerator Solutions Limited is a private company, limited by shares , registered in England and

Wales. 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.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are

measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of five 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 etc

-

20% on cost and 10% on cost

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2017 - 22 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2018

and 31 December 2018

13,927

AMORTISATION

At 1 January 2018

5,351

Charge for year

2,785

At 31 December 2018

8,136

NET BOOK VALUE

At 31 December 2018

5,791

At 31 December 2017

8,576

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2018

53,176

Additions

721

Disposals

(200

)

At 31 December 2018

53,697

DEPRECIATION

At 1 January 2018

46,022

Charge for year

1,728

Eliminated on disposal

(20

)

At 31 December 2018

47,730

NET BOOK VALUE

At 31 December 2018

5,967

At 31 December 2017

7,154

6.	FIXED ASSET INVESTMENTS

Interest

in joint

venture

£

COST

At 1 January 2018

and 31 December 2018

500

NET BOOK VALUE

At 31 December 2018

500

At 31 December 2017

500

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade debtors

110,850

203,025

Amounts recoverable on contract

20,371

34,305

Other debtors

30,729

34,521

161,950

271,851

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade creditors

13,837

37,810

Amounts owed to joint ventures

500

500

Taxation and social security

110,801

124,309

Other creditors

21,998

27,037

147,136

189,656

9.	LEASING AGREEMENTS

As at 31 December 2018, the company was committed to making payments under non-cancellable

operating leases of £42,998 (2017 - £42,998).

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.18

31.12.17

value:

£

£

100

Ordinary

1

100

100

11.	RELATED PARTY DISCLOSURES

During the year, Accelerator Solutions Ltd incurred expenses to the value of £3,494 on behalf of

Accelerator Apprenticeships Ltd. This amount is recorded within accrued income.

At the year end, directors' loans were outstanding as follows:

Mr H Hopkins £620.85 (2017 - NIL)

Mrs H Daniell £615.11 (2017 - NIL)

These amounts are interest-free and were repaid within nine months of the year end.