AC Landscapes & Treeworks UK Limited - Period Ending 2019-12-31
AC Landscapes & Treeworks UK Limited - Period Ending 2019-12-31
COMPANY REGISTRATION NUMBER:
AC Landscapes & Treeworks UK Limited
for the Year Ended 31 December 2019
Chartered Accountants
Moorgate House
King Street
Newton Abbot
Devon
TQ12 2LG
AC Landscapes & Treeworks UK Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
AC Landscapes & Treeworks UK Limited
Company Information
Directors |
Mr L N Saunders Mr M A Cockcroft Mrs E J Cockcroft |
Registered office |
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Accountants |
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AC Landscapes & Treeworks UK Limited
(Registration number: 09627326)
Balance Sheet as at 31 December 2019
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2019 |
2018 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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AC Landscapes & Treeworks UK Limited
(Registration number: 09627326)
Balance Sheet as at 31 December 2019
For the financial 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.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the profit and loss has been taken.
Approved and authorised for issue by the
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Director
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AC Landscapes & Treeworks UK Limited
Notes to the Financial Statements for the Year Ended 31 December 2019
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are presented in Sterling and are rounded to the nearest £.
Revenue recognition
Turnover represents shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
Revenue is recognised when services have been provided. Long term contract revenue is recognised as each stage is completed.
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AC Landscapes & Treeworks UK Limited
Notes to the Financial Statements for the Year Ended 31 December 2019
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax.
Deferred tax is measured, on an undiscounted basis, at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and laws enacted or substantively enacted at the balance sheet date.
Tangible assets
All fixed assets are initially recorded at cost.
Depreciation
Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Land and buildings |
between 3 and 4 years straight line |
Motor vehicles |
4 years straight line |
Other tangible assets |
between 3 and 10 years straight line |
Goodwill
Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost over their useful life as follows:
Asset class |
Amortisation method and rate |
Goodwill |
5 years straight line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
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AC Landscapes & Treeworks UK Limited
Notes to the Financial Statements for the Year Ended 31 December 2019
Trade debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade debtors are recognised at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date.
Trade creditors are recognised at the transaction price.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
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AC Landscapes & Treeworks UK Limited
Notes to the Financial Statements for the Year Ended 31 December 2019
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease. Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the Profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Share capital
Ordinary shares are classified as equity.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
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AC Landscapes & Treeworks UK Limited
Notes to the Financial Statements for the Year Ended 31 December 2019
Intangible assets |
Goodwill |
Total |
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Cost or valuation |
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At 1 January 2019 |
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At 31 December 2019 |
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Amortisation |
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At 1 January 2019 |
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Amortisation charge |
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At 31 December 2019 |
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Carrying amount |
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At 31 December 2019 |
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At 31 December 2018 |
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Tangible assets |
Land and buildings |
Motor vehicles |
Plant & machinery |
Total |
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Cost or valuation |
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At 1 January 2019 |
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Additions |
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At 31 December 2019 |
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Depreciation |
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At 1 January 2019 |
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Charge for the year |
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At 31 December 2019 |
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Carrying amount |
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At 31 December 2019 |
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At 31 December 2018 |
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AC Landscapes & Treeworks UK Limited
Notes to the Financial Statements for the Year Ended 31 December 2019
Debtors |
2019 |
2018 |
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Trade debtors |
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Other debtors |
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Total current trade and other debtors |
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Creditors |
Creditors: amounts falling due within one year
Note |
2019 |
2018 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
Note |
2019 |
2018 |
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Due after one year |
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Loans and borrowings |
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AC Landscapes & Treeworks UK Limited
Notes to the Financial Statements for the Year Ended 31 December 2019
Loans and borrowings |
2019 |
2018 |
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Current loans and borrowings |
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Bank overdrafts |
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Finance lease liabilities |
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Other borrowings |
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2019 |
2018 |
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Non-current loans and borrowings |
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Finance lease liabilities |
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Other borrowings |
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Loans and borrowings falling due within and after more than one year on which security has been given by the company, includes the following liabilities:
Finance lease and hire purchase account liabilities are secured against the assets purchased. At the balance sheet date these totalled £266,971 (2018 - £248,026).
Factoring advances received are secured against the debtors to which they relate. At the balance sheet date these totalled £672,120 (2018 - £359,904).
Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £
During the year the client executed an early release clause on the property, the new property lease had not been finalised as at the date of these accounts.
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AC Landscapes & Treeworks UK Limited
Notes to the Financial Statements for the Year Ended 31 December 2019
Share capital |
Allotted, called up and fully paid shares
2019 |
2018 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
Related party transactions |
Transactions with directors |
2019 |
At 1 January 2019 |
Advances to directors |
Repayments by director |
At 31 December 2019 |
Directors loan - (Interest free) |
(97,000) |
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( |
( |
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