AA Aggregates Central Limited - Accounts

AA Aggregates Central Limited - Accounts

AA AGGREGATES CENTRAL LIMITED - Company Information

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Registered Number: SC484941
Scotland

 

 

 

AA AGGREGATES CENTRAL LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 April 2021

End date: 31 March 2022

AA Aggregates Central Limited
Contents Page
For the year ended 31 March 2022
Directors Thomas Smith
David Morrison
John Brian Neill
Registered Number SC484941
Registered Office Fallside Road,
Bothwell
G71 8BG
Accountants Turner Accountancy Limited
101 Park Street
Motherwell
ML1 1PF
1
Director's report and financial statements
The directors present their annual report and the financial statements for the year ended 31 March 2022.
Principal activities
Principal activity of the company during the financial year was of agents involved in the sale of timber and building materials.
Directors
The directors who served the company throughout the year were as follows:
Thomas Smith
David Morrison
John Brian Neill
Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

This report was approved by the board and signed on its behalf by:


----------------------------------
David Morrison
Director

Date approved: 09 November 2022
2
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 March 2022 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Turner Accountancy Limited
31 March 2022



....................................................
Turner Accountancy Limited
101 Park Street
Motherwell
ML1 1PF
09 November 2022
3
 
 		 Notes
 		 2022
£		   2021
£
Fixed assets      
Tangible fixed assets 4 417,531    135,000 
417,531    135,000 
Current assets      
Stocks 5 0    290,031 
Debtors 6 (50,548)   195,540 
Cash at bank and in hand 80,585    162,105 
30,037    647,676 
Creditors: amount falling due within one year 7 (372,935)   (566,433)
Net current liabilities (342,898)   81,243 
 
Total assets less current liabilities 74,633    216,243 
Net assets 74,633    216,243 
 

Capital and reserves 		     
Called up share capital 100    100 
Profit and loss account 74,533    216,143 
Shareholder's funds 74,633    216,243 
 


For the year ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 09 November 2022 and were signed on its behalf by:


--------------------------------
David Morrison
Director
4
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 April 2020 100  275,186  275,286 
Profit for the year 16,957  16,957 
Total comprehensive income for the year -  16,957  16,957 
Dividends (76,000) (76,000)
Total investments by and distributions to owners -  (76,000) (76,000)
At 31 March 2021 100  216,143  216,243 
At 01 April 2021 100  216,143  216,243 
Profit for the year 25,890  25,890 
Total comprehensive income for the year -  25,890  25,890 
Dividends (167,500) (167,500)
Total investments by and distributions to owners -  (167,500) (167,500)
At 31 March 2022 100  74,533  74,633 
5
General Information
AA Aggregates Central Limited is a private company, limited by shares, registered in Scotland, registration number SC484941, registration address Fallside Road, Bothwell, , G71 8BG

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 5 Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 3 (2021 : 3).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 April 2021 186,312    186,312 
Additions -    - 
Disposals -    - 
At 31 March 2022 186,312    186,312 
Amortisation
At 01 April 2021 186,312    186,312 
Charge for year -    - 
On disposals -    - 
At 31 March 2022 186,312    186,312 
Net book values
At 31 March 2022 -    - 
At 31 March 2021 -    - 


4.

Tangible fixed assets

Cost or valuation Land and Buildings   Investment properties   Total
  £   £   £
At 01 April 2021 150,000    -    150,000 
Additions -    290,031    290,031 
Disposals -    -    - 
At 31 March 2022 150,000    290,031    440,031 
Depreciation
At 01 April 2021 15,000    -    15,000 
Charge for year 7,500    -    7,500 
On disposals -    -    - 
At 31 March 2022 22,500    -    22,500 
Net book values
Closing balance as at 31 March 2022 127,500    290,031    417,531 
Opening balance as at 01 April 2021 135,000    -    135,000 


5.

Stocks

2022
£		   2021
£
Stocks 0    290,031 
0    290,031 

6.

Debtors: amounts falling due within one year

2022
£		   2021
£
Trade Debtors 117,029    82,928 
Other Debtors 11,453    11,453 
Intercompany loan (180,667)   28,519 
PAYE & Social Security 82    82 
Directors' Current Accounts 0    35,240 
VAT 1,555    37,318 
(50,548)   195,540 

7.

Creditors: amount falling due within one year

2022
£		   2021
£
Trade Creditors 318,750    499,068 
Bank Loans & Overdrafts 42,567    50,000 
Corporation Tax 7,832    15,210 
Accrued Expenses 2,276    1,155 
Other Creditors 1,000    1,000 
Directors' Current Accounts 510    0 
372,935    566,433 

6