Automatic Access Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05211505 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2019

for

Automatic Access Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

T P Allsop

SECRETARY:

Mrs J A Allsop

REGISTERED OFFICE:

2 Barkby Lane

Syston

Leicester

LE7 2BA

REGISTERED NUMBER:

05211505 (England and Wales)

ACCOUNTANTS:

Carter & Co

19 Warren Park Way

Enderby

Leicester

LE19 4SA

FIXED ASSETS

Tangible assets

4

74,098

72,151

CURRENT ASSETS

Stocks

5

16,000

2,000

Debtors

6

172,347

110,687

Cash at bank

83,636

58,607

271,983

171,294

CREDITORS

Amounts falling due within one year

7

178,114

119,246

NET CURRENT ASSETS

93,869

52,048

TOTAL ASSETS LESS CURRENT LIABILITIES

167,967

124,199

CREDITORS

Amounts falling due after more than one year

8

22,012

27,680

NET ASSETS

145,955

96,519

CAPITAL AND RESERVES

Called up share capital

9

1,000

1,000

Retained earnings

144,955

95,519

SHAREHOLDERS' FUNDS

145,955

96,519

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 30 August 2019 and were signed by:

T P Allsop - Director

1.	STATUTORY INFORMATION

Automatic Access 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those

held under hire purchase contracts are depreciated over their estimated useful lives. Those held under

finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital

element of the future payments is treated as a liability.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2018 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2018

128,852

Additions

33,642

Disposals

(14,700

)

At 31 March 2019

147,794

DEPRECIATION

At 1 April 2018

56,701

Charge for year

18,833

Eliminated on disposal

(1,838

)

At 31 March 2019

73,696

NET BOOK VALUE

At 31 March 2019

74,098

At 31 March 2018

72,151

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 April 2018

59,586

Additions

19,350

Disposals

(14,700

)

At 31 March 2019

64,236

DEPRECIATION

At 1 April 2018

3,769

Charge for year

12,834

Eliminated on disposal

(1,838

)

At 31 March 2019

14,765

NET BOOK VALUE

At 31 March 2019

49,471

At 31 March 2018

55,817

5.

STOCKS

31.3.19

31.3.18

£

£

Stocks

16,000

2,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade debtors

155,228

92,834

Other debtors

17,119

17,853

172,347

110,687

Other debtors represents prepayments amounting to £7,679 (2018: £5,133) a rent deposit amounting to £3,125

(2018: £3,125) an employee loan amounting to £NIL (2018: £2,000) and an amount owed from related party

Commercial Aluminium Shop Fronts Ltd £6,315 (2018: £7,595).

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Hire purchase contracts

16,061

16,683

Trade creditors

82,443

61,072

Taxation and social security

51,051

24,204

Other creditors

28,559

17,287

178,114

119,246

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.19

31.3.18

£

£

Hire purchase contracts

22,012

27,680

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.19

31.3.18

value:

£

£

1,000

Ordinary

£1

1,000

1,000

10.	RELATED PARTY DISCLOSURES

During the year, total dividends of £60,000 (2018 - £32,565) were paid to the director .

During the year, the company sold goods net of VAT totalling £23,011 (2018 - £24,901) to Commercial

Aluminium Shop Fronts Limited, a company in which Mr T Allsop is a secretary and shareholder. The amount

owed to the company at the year end was £5,843 (2018 - £20,113).The company also purchased goods net of

VAT from Commercial Aluminium Shop Front Ltd totalling £18,030 (2018 - £11,966). The amount owed by the

company at the year end was £3,780 (2018 - £4,130).