Alan Campbell Engineering Services Limited 31/12/2019 iXBRL

Alan Campbell Engineering Services Limited 31/12/2019 iXBRL

ALAN CAMPBELL ENGINEERING SERVICES LIMITED - Company Information

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31/12/2019 2019-12-31 false false false false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2019-01-01 Sage Accounts Production 19.0 - FRS102_2019 xbrli:pure xbrli:shares iso4217:GBP 05971190 2019-01-01 2019-12-31 05971190 2019-12-31 05971190 2018-12-31 05971190 2018-01-01 2018-12-31 05971190 2018-12-31 05971190 core:NetGoodwill 2019-01-01 2019-12-31 05971190 core:PlantMachinery 2019-01-01 2019-12-31 05971190 core:FurnitureFittingsToolsEquipment 2019-01-01 2019-12-31 05971190 core:MotorVehicles 2019-01-01 2019-12-31 05971190 bus:Director1 2019-01-01 2019-12-31 05971190 core:NetGoodwill 2018-12-31 05971190 core:NetGoodwill 2019-12-31 05971190 core:PlantMachinery 2018-12-31 05971190 core:FurnitureFittingsToolsEquipment 2018-12-31 05971190 core:MotorVehicles 2018-12-31 05971190 core:PlantMachinery 2019-12-31 05971190 core:FurnitureFittingsToolsEquipment 2019-12-31 05971190 core:MotorVehicles 2019-12-31 05971190 core:WithinOneYear 2019-12-31 05971190 core:WithinOneYear 2018-12-31 05971190 core:AfterOneYear 2019-12-31 05971190 core:ShareCapital 2019-12-31 05971190 core:ShareCapital 2018-12-31 05971190 core:RetainedEarningsAccumulatedLosses 2019-12-31 05971190 core:RetainedEarningsAccumulatedLosses 2018-12-31 05971190 core:NetGoodwill 2018-12-31 05971190 core:PlantMachinery 2018-12-31 05971190 core:FurnitureFittingsToolsEquipment 2018-12-31 05971190 core:MotorVehicles 2018-12-31 05971190 bus:SmallEntities 2019-01-01 2019-12-31 05971190 bus:AuditExempt-NoAccountantsReport 2019-01-01 2019-12-31 05971190 bus:FullAccounts 2019-01-01 2019-12-31 05971190 bus:SmallCompaniesRegimeForAccounts 2019-01-01 2019-12-31 05971190 bus:PrivateLimitedCompanyLtd 2019-01-01 2019-12-31 05971190 core:OtherPropertyPlantEquipment 2018-12-31 05971190 core:OtherPropertyPlantEquipment 2019-12-31
Company registration number: 05971190
Alan Campbell Engineering Services Limited
Unaudited filleted financial statements
31 December 2019
Alan Campbell Engineering Services Limited
Contents
Statement of financial position
Notes to the financial statements
Alan Campbell Engineering Services Limited
Statement of financial position
31st December 2019
2019 2018
Note £ £ £ £
Fixed assets
Intangible assets 5 8,543 9,763
Tangible assets 6 96,248 62,845
_______ _______
104,791 72,608
Current assets
Stocks 83,225 52,328
Debtors 7 246,496 245,467
Cash at bank and in hand 203,850 119,389
_______ _______
533,571 417,184
Creditors: amounts falling due
within one year 8 ( 196,196) ( 177,875)
_______ _______
Net current assets 337,375 239,309
_______ _______
Total assets less current liabilities 442,166 311,917
Creditors: amounts falling due
after more than one year 9 ( 65,791) -
Provisions for liabilities ( 15,814) ( 8,317)
_______ _______
Net assets 360,561 303,600
_______ _______
Capital and reserves
Called up share capital 500 500
Profit and loss account 360,061 303,100
_______ _______
Shareholders funds 360,561 303,600
_______ _______
For the year ending 31 December 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 year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 Section 1A of 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.
These financial statements were approved by the board of directors and authorised for issue on 27 February 2020 , and are signed on behalf of the board by:
Alan Campbell
Director
Company registration number: 05971190
Alan Campbell Engineering Services Limited
Notes to the financial statements
Year ended 31st December 2019
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Building 2, Units 5-7, Radway Green, Crewe, Cheshire, CW2 5PR.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The Triennial review 2017 amendments to the standard have been early adopted.
3. Accounting policies
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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - 5 % straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
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:
Plant and machinery - 25 % reducing balance
Fittings fixtures and equipment - 25 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
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. 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 are 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.
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 stocks to their present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 13 (2018: 13 ).
5. Intangible assets
Goodwill Total
£ £
Cost
At 1st January 2019 and 31st December 2019 24,404 24,404
_______ _______
Amortisation
At 1st January 2019 14,641 14,641
Charge for the year 1,220 1,220
_______ _______
At 31st December 2019 15,861 15,861
_______ _______
Carrying amount
At 31st December 2019 8,543 8,543
_______ _______
At 31st December 2018 9,763 9,763
_______ _______
6. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Cycles-C2W Scheme Total
£ £ £ £ £
Cost
At 1st January 2019 68,900 45,993 10,301 2,050 127,244
Additions 34,641 19,160 - - 53,801
_______ _______ _______ _______ _______
At 31st December 2019 103,541 65,153 10,301 2,050 181,045
_______ _______ _______ _______ _______
Depreciation
At 1st January 2019 32,604 27,385 2,360 2,050 64,399
Charge for the year 11,340 7,073 1,985 - 20,398
_______ _______ _______ _______ _______
At 31st December 2019 43,944 34,458 4,345 2,050 84,797
_______ _______ _______ _______ _______
Carrying amount
At 31st December 2019 59,597 30,695 5,956 - 96,248
_______ _______ _______ _______ _______
At 31st December 2018 36,296 18,608 7,941 - 62,845
_______ _______ _______ _______ _______
7. Debtors
2019 2018
£ £
Trade debtors 237,627 239,919
Other debtors 8,869 5,548
_______ _______
246,496 245,467
_______ _______
8. Creditors: amounts falling due within one year
2019 2018
£ £
Bank loans and overdrafts 20,260 11,940
Trade creditors 99,692 91,906
Corporation tax 26,769 26,495
Social security and other taxes 38,686 30,070
Other creditors 10,789 17,464
_______ _______
196,196 177,875
_______ _______
9. Creditors: amounts falling due after more than one year
2019 2018
£ £
Bank loans and overdrafts 65,791 -
_______ _______