AA Sheet Metal Limited - Limited company accounts 18.2
AA Sheet Metal Limited - Limited company accounts 18.2
| REGISTERED NUMBER: |
| Report of the Directors and |
| Unaudited Financial Statements for the Year Ended 31 December 2018 |
| for |
| AA Sheet Metal Limited |
| AA Sheet Metal Limited (Registered number: 04589987) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2018 |
| Page |
| Company Information | 1 |
| Report of the Directors | 2 |
| Income Statement | 3 |
| Statement of Financial Position | 4 |
| Statement of Changes in Equity | 6 |
| Notes to the Financial Statements | 7 |
| AA Sheet Metal Limited |
| Company Information |
| for the Year Ended 31 December 2018 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Evolution House |
| Delft Way |
| Norwich Airport |
| Norwich |
| Norfolk |
| NR6 6BB |
| AA Sheet Metal Limited (Registered number: 04589987) |
| Report of the Directors |
| for the Year Ended 31 December 2018 |
| The directors present their report with the financial statements of the company for the year ended 31 December 2018. |
| PRINCIPAL ACTIVITY |
| The principal activity of the company in the year under review was that of manufacture of metal structures and parts of |
| structures. |
| DIRECTORS |
| The directors shown below have held office during the whole of the period from 1 January 2018 to the date of this report. |
| This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small |
| companies. |
| ON BEHALF OF THE BOARD: |
| AA Sheet Metal Limited (Registered number: 04589987) |
| Income Statement |
| for the Year Ended 31 December 2018 |
| 31.12.18 | 31.12.17 |
| Notes | £ | £ | £ | £ |
| REVENUE |
| Cost of sales |
| GROSS PROFIT |
| Distribution costs |
| Administrative expenses |
| 659,509 | 612,670 |
| OPERATING PROFIT | 4 |
| Interest payable and similar expenses |
| PROFIT BEFORE TAXATION |
| Tax on profit | 5 |
| PROFIT FOR THE FINANCIAL YEAR |
| AA Sheet Metal Limited (Registered number: 04589987) |
| Statement of Financial Position |
| 31 December 2018 |
| 31.12.18 | 31.12.17 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 7 |
| Property, plant and equipment | 8 |
| CURRENT ASSETS |
| Inventories |
| Debtors | 9 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 10 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 11 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | 12 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 13 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| AA Sheet Metal Limited (Registered number: 04589987) |
| Statement of Financial Position - continued |
| 31 December 2018 |
| The financial statements were approved by the Board of Directors on |
| AA Sheet Metal Limited (Registered number: 04589987) |
| Statement of Changes in Equity |
| for the Year Ended 31 December 2018 |
| Called up |
| share | Retained | Total |
| capital | earnings | equity |
| £ | £ | £ |
| Balance at 1 January 2017 |
| Changes in equity |
| Issue of share capital | - |
| Dividends | - | ( |
) | ( |
) |
| Total comprehensive income | - |
| Balance at 31 December 2017 |
| Changes in equity |
| Dividends | - | ( |
) | ( |
) |
| Total comprehensive income | - |
| Balance at 31 December 2018 |
| AA Sheet Metal Limited (Registered number: 04589987) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2018 |
| 1. | STATUTORY INFORMATION |
| AA Sheet Metal Limited is a |
| registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value |
| added tax and other sales taxes. |
| Goodwill |
| 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. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Stocks |
| Inventories 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 statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement |
| of financial position 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. |
| AA Sheet Metal Limited (Registered number: 04589987) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2018 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 |
| 4. | OPERATING PROFIT |
| The operating profit is stated after charging: |
| 31.12.18 | 31.12.17 |
| £ | £ |
| Depreciation - owned assets |
| 5. | TAXATION |
| Analysis of the tax charge |
| The tax charge on the profit for the year was as follows: |
| 31.12.18 | 31.12.17 |
| £ | £ |
| Current tax: |
| UK corporation tax |
| Deferred tax |
| Tax on profit |
| 6. | DIVIDENDS |
| 31.12.18 | 31.12.17 |
| £ | £ |
| Interim |
| AA Sheet Metal Limited (Registered number: 04589987) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2018 |
| 7. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 January 2018 |
| and 31 December 2018 |
| AMORTISATION |
| At 1 January 2018 |
| and 31 December 2018 |
| NET BOOK VALUE |
| At 31 December 2018 |
| At 31 December 2017 |
| 8. | PROPERTY, PLANT AND EQUIPMENT |
| Fixtures |
| Long | Plant and | and |
| leasehold | machinery | fittings |
| £ | £ | £ |
| COST |
| At 1 January 2018 |
| Additions |
| At 31 December 2018 |
| DEPRECIATION |
| At 1 January 2018 |
| Charge for year |
| Eliminated on disposal |
| At 31 December 2018 |
| NET BOOK VALUE |
| At 31 December 2018 |
| At 31 December 2017 |
| AA Sheet Metal Limited (Registered number: 04589987) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2018 |
| 8. | PROPERTY, PLANT AND EQUIPMENT - continued |
| Motor | Computer |
| vehicles | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2018 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 December 2018 |
| DEPRECIATION |
| At 1 January 2018 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 December 2018 |
| NET BOOK VALUE |
| At 31 December 2018 |
| At 31 December 2017 |
| 9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.18 | 31.12.17 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Prepayments |
| 10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.18 | 31.12.17 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Tax |
| Social security and other taxes |
| Net wages | (150 | ) | (52 | ) |
| Pension contributions unpaid | - | (5 | ) |
| VAT | 19,129 | 22,739 |
| Directors' current accounts | 357 | 615 |
| Accrued expenses |
| AA Sheet Metal Limited (Registered number: 04589987) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2018 |
| 11. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.12.18 | 31.12.17 |
| £ | £ |
| Hire purchase contracts |
| 12. | PROVISIONS FOR LIABILITIES |
| 31.12.18 | 31.12.17 |
| £ | £ |
| Deferred tax | 45,558 | 39,094 |
| Deferred |
| tax |
| £ |
| Balance at 1 January 2018 |
| Provided during year |
| Balance at 31 December 2018 |
| 13. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.12.18 | 31.12.17 |
| value: | £ | £ |
| Ordinary | £1 | 200 | 200 |
| 14. | RELATED PARTY DISCLOSURES |
| During the year, total dividends of £113,000 were paid to the directors . |
| 15. | ULTIMATE CONTROLLING PARTY |
| By way of the equal shareholdings Mr A Lappin and Mr A Smith share ultimate control of the company between |
| them. |