ACCOUNTS - Final Accounts

AEGIS ENGINEERING SOLUTIONS LIMITED - Company Information

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Registered number: 6592510

AEGIS ENGINEERING SOLUTIONS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2019

AEGIS ENGINEERING SOLUTIONS LIMITED

REGISTERED NUMBER: 6592510

BALANCE SHEET

AS AT 31 MAY 2019

		2019		2018
Note		£		£

Fixed assets
Tangible assets	4		2,694		3,593
			2,694		3,593
Current assets
Debtors: amounts falling due within one year	5	6,566		9,795
Cash at bank and in hand		393		29,180
		6,959		38,975
Creditors: amounts falling due within one year	6	(3,529)		(25,874)
Net current assets			3,430		13,101
Total assets less current liabilities			6,124		16,694
Provisions for liabilities
Deferred tax	7	(450)		(600)
			(450)		(600)
Net assets			5,674		16,094

Capital and reserves
Called up share capital	100	100
Profit and loss account	5,574	15,994
	5,674	16,094

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AEGIS ENGINEERING SOLUTIONS LIMITED

REGISTERED NUMBER: 6592510

BALANCE SHEET (CONTINUED)

AS AT 31 MAY 2019

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 6 February 2020.

M. Milinkovic

Director

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AEGIS ENGINEERING SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2019

1.	General information

The company is a private company, limited by shares and registered in England.
Its registered number is 6592510.
Its registered office is:
4 Hillmont Road,
Esher,
Surrey,
KT10 9BA.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of income and retained earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

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AEGIS ENGINEERING SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2019

2.Accounting policies (continued)

2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment

25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of income and retained earnings.

2.5

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Statement of income and retained earnings in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

2.6

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 1 (2018 - 1).

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AEGIS ENGINEERING SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2019

4.	Tangible fixed assets

		Office equipment
		£
	Cost or valuation
	At 1 June 2018	6,482
	At 31 May 2019	6,482
	Depreciation
	At 1 June 2018	2,889
	Charge for the year on owned assets	899
	At 31 May 2019	3,788
	Net book value
	At 31 May 2019	2,694
	At 31 May 2018	3,593

Debtors

					2019	2018
					£	£


Trade debtors	-	9,413
Other debtors	6,566	382
	6,566	9,795

6.	Creditors: Amounts falling due within one year
		2019	2018
		£	£

Taxation and social security	2,479	24,144
Other creditors	-	430
Accruals and deferred income	1,050	1,300
	3,529	25,874

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AEGIS ENGINEERING SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2019

7.	Deferred taxation

		2019
		£

	At beginning of year	(600)
	Charged to profit or loss	150
	At end of year	(450)

The provision for deferred taxation is made up as follows:
	2019	2018
	£	£

	Accelerated capital allowances	(450)	(600)
		(450)	(600)

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