A & A Metals (Kent) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06444606 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

FOR

A & A METALS (KENT) LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr G Hanson

Mr M Hanson

Mr R Hanson

Mrs J Hanson

REGISTERED OFFICE:

Unit 2.02, High Weald House

Glovers End

Bexhill,

East Sussex

TN39 5ES

REGISTERED NUMBER:

06444606 (England and Wales)

ACCOUNTANTS:

Acuity Professional Partnership LLP

Unit 2.02

High Weald House

Glovers End

Bexhill

East Sussex

TN39 5ES

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

19,689

25,134

19,689

25,134

CURRENT ASSETS

Stocks

6

10,000

10,000

Debtors

7

6,962

6,400

Cash at bank

22,177

67,039

39,139

83,439

CREDITORS

Amounts falling due within one year

8

55,069

81,249

NET CURRENT (LIABILITIES)/ASSETS

(15,930

)

2,190

TOTAL ASSETS LESS CURRENT LIABILITIES

3,759

27,324

PROVISIONS FOR LIABILITIES

9

3,025

3,902

NET ASSETS

734

23,422

CAPITAL AND RESERVES

Called up share capital

10

175

175

Retained earnings

559

23,247

SHAREHOLDERS' FUNDS

734

23,422

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

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

The directors acknowledge their 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2020 and were signed on its behalf by:

Mr G Hanson - Director

1.	STATUTORY INFORMATION

A & A Metals (Kent) 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.

GOODWILL

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of ten years.

INTANGIBLE ASSETS

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% 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 Statement of Income and Retained Earnings, 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 statement of financial position date.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2018 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

Cost

At 1 January 2019

and 31 December 2019

113,102

Amortisation

At 1 January 2019

and 31 December 2019

113,102

Net book value

At 31 December 2019

-

At 31 December 2018

-

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

Cost

At 1 January 2019

63,843

51,115

15,165

130,123

Additions

-

-

1,584

1,584

At 31 December 2019

63,843

51,115

16,749

131,707

Depreciation

At 1 January 2019

58,574

33,326

13,089

104,989

Charge for year

1,317

4,448

1,264

7,029

At 31 December 2019

59,891

37,774

14,353

112,018

Net book value

At 31 December 2019

3,952

13,341

2,396

19,689

At 31 December 2018

5,269

17,789

2,076

25,134

6.

STOCKS

2019

2018

£

£

Stocks

10,000

10,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

562

-

Other debtors

6,400

6,400

6,962

6,400

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

757

-

Taxation and social security

49,785

66,888

Other creditors

4,527

14,361

55,069

81,249

9.	PROVISIONS FOR LIABILITIES

2019

2018

£

£

Deferred tax

3,025

3,902

Deferred

tax

£

Balance at 1 January 2019

3,902

Utilised during year

(877

)

Balance at 31 December 2019

3,025

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

Ordinary shares

£1

100

100

75

Ordinary A, B & C shares

£1

75

75

175

175