Concept (A C & R) Maintenance Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07183756 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

FOR

CONCEPT

(AIR CONDITIONING AND REFRIGERATION)

MAINTENANCE LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs J Sloan

D J Sloan

SECRETARY:

Mrs J Sloan

REGISTERED OFFICE:

Suite 2

Beswick House

Greenfold Way

Leigh

Lancashire

WN7 3XJ

REGISTERED NUMBER:

07183756 (England and Wales)

ACCOUNTANTS:

Hayes and Associates (Leigh) Limited

Suite 2 Beswick House

Greenfold Way

Leigh

Lancashire

WN7 3XT

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

40,853

44,403

40,853

44,403

CURRENT ASSETS

Stocks

3,500

4,500

Debtors

109,004

178,341

Cash at bank and in hand

103,219

38,240

215,723

221,081

CREDITORS

Amounts falling due within one year

92,814

102,090

NET CURRENT ASSETS

122,909

118,991

TOTAL ASSETS LESS CURRENT LIABILITIES

163,762

163,394

CREDITORS

Amounts falling due after more than one year

-

(7,512

)

PROVISIONS FOR LIABILITIES

(5,776

)

(8,210

)

NET ASSETS

157,986

147,672

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

157,984

147,670

SHAREHOLDERS' FUNDS

157,986

147,672

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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2021 in accordance with Section 444(2A) of the Companies Act 2006.

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 8 November 2021 and were signed on its behalf by:

Mrs J Sloan - Director

D J Sloan - Director

1.	STATUTORY INFORMATION

Concept (Air Conditioning And Refrigeration) Maintenance Ltd 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 2015, is being amortised evenly over its estimated useful life of five 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.

Fixtures & equipment

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

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

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

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 - 11 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2020

and 31 March 2021

500

AMORTISATION

At 1 April 2020

and 31 March 2021

500

NET BOOK VALUE

At 31 March 2021

-

At 31 March 2020

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2020

118,262

Additions

10,083

Disposals

(8,295

)

At 31 March 2021

120,050

DEPRECIATION

At 1 April 2020

73,859

Charge for year

9,842

Eliminated on disposal

(4,504

)

At 31 March 2021

79,197

NET BOOK VALUE

At 31 March 2021

40,853

At 31 March 2020

44,403

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2021 and 31 March 2020:

2021

2020

£

£

D J Sloan and Mrs J Sloan

Balance outstanding at start of year

49,913

-

Amounts advanced

-

49,913

Amounts repaid

(49,913

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

49,913