A A Process and Packing Machinery Limited Filleted accounts for Companies House (small and micro)

A A PROCESS AND PACKING MACHINERY LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 5567658

A A Process and Packing Machinery Limited

Filleted Unaudited Financial Statements

30 June 2019

A A Process and Packing Machinery Limited

Financial Statements

Period from 1 March 2018 to 30 June 2019

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

A A Process and Packing Machinery Limited

Statement of Financial Position

30 June 2019

	30 Jun 19		28 Feb 18
Note	£	£	£

Fixed assets

Tangible assets	4		296	608

Current assets

Stocks		–	1,518,867
Debtors	5	305,971	26,516
Cash at bank and in hand		954,505	317,194
		------------	------------
		1,260,476	1,862,577

Creditors: amounts falling due within one year	6	116,827		919,431
		------------		------------
Net current assets			1,143,649	943,146
			------------	---------
Total assets less current liabilities			1,143,945	943,754
			------------	---------
Net assets			1,143,945	943,754
			------------	---------

A A Process and Packing Machinery Limited

Statement of Financial Position (continued)

30 June 2019

	30 Jun 19		28 Feb 18
Note	£	£	£

Capital and reserves

Called up share capital	3	3
Share premium account	220,010	220,010
Profit and loss account	923,932	723,741
	------------	---------
Shareholders funds	1,143,945	943,754
	------------	---------

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.

For the period ending 30 June 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 period 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 were approved by the board of directors and authorised for issue on 7 October 2019 , and are signed on behalf of the board by:

N Amini	A G Khan
Director	Director

Company registration number: 5567658

A A Process and Packing Machinery Limited

Notes to the Financial Statements

Period from 1 March 2018 to 30 June 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 Midway House, Herrick Way, Staverton Technology Park, Staverton, Cheltenham, GL51 6TQ.

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

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. The policy adopted for the recognition of turnover in respect of construction contracts is as follows: When the outcome of a construction contract can be estimated reliably, contract costs and turnover are recognised by reference to the stage of completion at the balance sheet date. The stage of completion is measured by reference to the contract costs incurred up to the end of the reporting period as a percentage of total estimated costs for each contract. Costs incurred for work performed to date do not include costs relating to future activity. Where the outcome cannot be measured reliably, contract costs are recognised as an expense in the period in which they are incurred and contract turnover is recognised to the extent of costs incurred that it is probable will be recoverable. When it is probable that contract costs will exceed the total contract turnover, the expected loss is recognised as an expense immediately, with a corresponding provision.

Taxation

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.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	33% straight line

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.

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.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

4. Tangible assets

	Equipment	Total
	£	£
Cost
At 1 March 2018 and 30 June 2019	1,092	1,092
	-------	-------
Depreciation
At 1 March 2018	484	484
Charge for the period	312	312
	-------	-------
At 30 June 2019	796	796
	-------	-------
Carrying amount
At 30 June 2019	296	296
	-------	-------
At 28 February 2018	608	608
	-------	-------

5. Debtors

	30 Jun 19	28 Feb 18
	£	£
Trade debtors	4,321	–
Other debtors	301,650	26,516
	---------	--------
	305,971	26,516
	---------	--------

6. Creditors: amounts falling due within one year

	30 Jun 19	28 Feb 18
	£	£
Trade creditors	1,908	9,043
Social security and other taxes	54,178	80,595
Other creditors	60,741	829,793
	---------	---------
	116,827	919,431
	---------	---------

7. Related party transactions

During the period the company made an interest free loan of £300,000 to the spouse of one of the directors. The amount outstanding at the end of the period was £300,000 (28 February 2018 - £nil).