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 2021

for

Automatic Access Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T P Allsop

Mrs J A 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

74,432

82,269

CURRENT ASSETS

Stocks

5

10,500

10,500

Debtors

6

228,013

144,541

Cash at bank

81,387

74,984

319,900

230,025

CREDITORS

Amounts falling due within one year

7

191,086

142,378

NET CURRENT ASSETS

128,814

87,647

TOTAL ASSETS LESS CURRENT LIABILITIES

203,246

169,916

CREDITORS

Amounts falling due after more than one year

8

31,527

20,252

NET ASSETS

171,719

149,664

CAPITAL AND RESERVES

Called up share capital

9

1,000

1,000

Retained earnings

170,719

148,664

SHAREHOLDERS' FUNDS

171,719

149,664

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 May 2021 and were signed on its behalf 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

Government grants

The small business government grant has been recognised under the performance model. This grant does not impose specified future performance related conditions on the Company and is recognised as income when the grants proceeds are received.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2020 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2020

179,110

Additions

39,085

Disposals

(23,517

)

At 31 March 2021

194,678

DEPRECIATION

At 1 April 2020

96,841

Charge for year

28,540

Eliminated on disposal

(5,135

)

At 31 March 2021

120,246

NET BOOK VALUE

At 31 March 2021

74,432

At 31 March 2020

82,269

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

Plant and

machinery

etc

£

COST

At 1 April 2020

84,186

Additions

38,250

Disposals

(19,350

)

Transfer to ownership

(15,450

)

At 31 March 2021

87,636

DEPRECIATION

At 1 April 2020

29,262

Charge for year

17,144

Eliminated on disposal

(3,225

)

Transfer to ownership

(9,656

)

At 31 March 2021

33,525

NET BOOK VALUE

At 31 March 2021

54,111

At 31 March 2020

54,924

5.

STOCKS

31.3.21

31.3.20

£

£

Stocks

10,500

10,500

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade debtors

211,354

123,930

Other debtors

8,980

10,464

Rent deposit

3,125

3,125

Prepayments

4,554

7,022

228,013

144,541

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Hire purchase contracts

15,238

17,970

Trade creditors

78,819

66,982

Tax

25,100

12,236

Social security and other taxes

11,336

4,841

VAT

20,169

21,210

Other creditors

7,770

4,468

Pension

1,351

1,051

Directors' current accounts

30,028

12,370

Accrued expenses

1,275

1,250

191,086

142,378

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.21

31.3.20

£

£

Hire purchase contracts

31,527

20,252

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.21

31.3.20

value:

£

£

1,000

Ordinary

£1

1,000

1,000

10.	RELATED PARTY DISCLOSURES

During the year, total dividends of £77,000 (2020 - £55,000) were paid to the directors .