A C Building (Peterborough) Limited Filleted accounts for Companies House (small and micro)

A C BUILDING (PETERBOROUGH) LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 02999432

A C Building (Peterborough) Limited

Filleted Unaudited Financial Statements

31 March 2019

A C Building (Peterborough) Limited

Financial Statements

for the period from 1st December 2017 to 31st March 2019

Contents	Pages

Chartered accountants report to the director on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2 to 3

Notes to the financial statements	4 to 7

A C Building (Peterborough) Limited

Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of A C Building (Peterborough) Limited

for the period from 1st December 2017 to 31st March 2019

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of A C Building (Peterborough) Limited for the period ended 31st March 2019, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of A C Building (Peterborough) Limited in accordance with the terms of our engagement letter dated 13th August 2019. Our work has been undertaken solely to prepare for your approval the financial statements of A C Building (Peterborough) Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than A C Building (Peterborough) Limited and its director for our work or for this report.

It is your duty to ensure that A C Building (Peterborough) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of A C Building (Peterborough) Limited. You consider that A C Building (Peterborough) Limited is exempt from the statutory audit requirement for the period. We have not been instructed to carry out an audit or a review of the financial statements of A C Building (Peterborough) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

MOORE THOMPSON Chartered Accountants

Unit 7, Swan Court Forder Way Cygnet Park Hampton Peterborough PE7 8GX

Dated: 11 September 2019

A C Building (Peterborough) Limited

Statement of Financial Position

as at 31 March 2019

	31 Mar 19		30 Nov 17
Note	£	£	£	£

Fixed assets

Tangible assets	5	69,247	12,838
Investments	6	220,000	220,000
		---------	---------
		289,247	232,838

Current assets

Stocks		62,185	359,924
Debtors	7	381,087	40,105
Cash at bank and in hand		273,766	15,806
		---------	---------
		717,038	415,835

Creditors: amounts falling due within one year	8	( 701,319)		( 331,170)
		---------		---------
Net current assets			15,719		84,665
			---------		---------
Total assets less current liabilities			304,966		317,503

Creditors: amounts falling due after more than one year	9		( 92,837)		( 102,836)

Provisions

Taxation including deferred tax	( 54,364)	( 44,070)
	---------	---------
Net assets	157,765	170,597
	---------	---------

Capital and reserves

Called up share capital	202	202
Revaluation reserve	91,155	91,155
Profit and loss account	66,408	79,240
	---------	---------
Shareholders funds	157,765	170,597
	---------	---------

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.

A C Building (Peterborough) Limited

Statement of Financial Position (continued)

as at 31 March 2019

For the period ending 31st March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 11 September 2019 , and are signed on behalf of the board by:

„„„„„„„„„„„„„

Mr A Cocozza Director

Company registration number: 02999432

A C Building (Peterborough) Limited

Notes to the Financial Statements

for the period from 1st December 2017 to 31st March 2019

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 7 Swan Court, Cygnet Park, Hampton, Peterborough, PE7 8GX.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

3.1 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.

3.2 Revenue recognition

Turnover comprises the invoice value of goods and services supplied by the company during the year, net of Value Added Tax and trade discounts.

3.3 Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.

3.4 Tangible assets

Tangible fixed assets are stated at cost less depreciation.

3.5 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:

Freehold Property	-	Not depreciated
Plant & Equipment	-	20% reducing balance
Motor Vehicles	-	25% reducing balance
Equipment	-	30% reducing balance

3.6 Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

3.7 Impairment of fixed assets

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. For the purposes of impairment testing, 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 largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

3.8 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 stock to its present location and condition.

4. Employee numbers

The average number of persons employed by the company during the period amounted to 2 (2017: 2 ).

5. Tangible assets

Land and buildings	Plant and machinery	Motor vehicles	Equipment	Total
£	£	£	£	£

Cost
At 1 12 17	–	23,800	14,053	10,455	48,308
Additions	59,727	–	–	838	60,565
	--------	--------	--------	--------	---------
At 31 03 19	59,727	23,800	14,053	11,293	108,873
	--------	--------	--------	--------	---------
Depreciation
At 1 12 17	–	15,986	9,958	9,526	35,470
Charge for the period	–	2,084	1,365	707	4,156
	--------	--------	--------	--------	---------
At 31 03 19	–	18,070	11,323	10,233	39,626
	--------	--------	--------	--------	---------
Carrying amount
At 31 03 19	59,727	5,730	2,730	1,060	69,247
	--------	--------	--------	--------	---------
At 30 11 17	–	7,814	4,095	929	12,838
	--------	--------	--------	--------	---------

6. Investments

	Other investments other than loans
	£

Cost
At 1 12 17 and 31 03 19	220,000
	---------
Impairment
At 1 12 17 and 31 03 19	–
	---------

Carrying amount
At 31 03 19	220,000
	---------
At 30 11 17	220,000
	---------

7. Debtors

	31 Mar 19	30 Nov 17
	£	£

Trade debtors	250,000	30,000
Other debtors	131,087	10,105
	---------	--------
	381,087	40,105
	---------	--------

8. Creditors: amounts falling due within one year

	31 Mar 19	30 Nov 17
	£	£

Trade creditors	3,825	26,941
Accruals and deferred income	2,400	1,100
Corporation tax	904	5,004
Social security and other taxes	216	1,817
Director loan accounts	567,759	295,993
Other Creditors	126,215	315
	---------	---------
	701,319	331,170
	---------	---------

9. Creditors: amounts falling due after more than one year

	31 Mar 19	30 Nov 17
	£	£

Other creditors	92,837	102,836
	--------	---------

10. Director's advances, credits and guarantees

There were no transactions with the Director in the current or previous year that needs to be disclosed.