AATI Commercial Limited - Period Ending 2021-03-31
AATI Commercial Limited - Period Ending 2021-03-31
Registrar
Registration number:
for the Year Ended
AATI Commercial Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
AATI Commercial Limited
Company Information
Directors |
R Oxborough T M Martin H Bisset D G Bisset C Monk |
Registered office |
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Solicitors |
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Bankers |
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Accountants |
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AATI Commercial Limited
(Registration number: 07810582)
Balance Sheet as at 31 March 2021
Note |
2021 |
2020 |
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Fixed 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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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
10,000 |
10,000 |
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Profit and loss account |
428,588 |
323,227 |
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Shareholders' funds |
438,588 |
333,227 |
For the financial year ended 31 March 2021 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 Account has been taken.
Approved and authorised by the
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AATI Commercial Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2021
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office and the principal place of business is:
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.
These financial statements are presented in Sterling (£), which is the company's functional currency.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of stair nosings. Turnover is shown net of value added tax, returns and discounts.
The company recognises revenue when:
• the amount of revenue can be reliably measured;
• it is probable that future economic benefits will flow to the entity;
• and specific criteria have been met for each of the company's activities.
Tax
Tax is recognised in the profit and loss account, 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.
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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 |
Plant, machinery and standard patterns |
15% Reducing Balance Method |
Trade debtors
Trade debtors are amounts due from customers for the sale of stair nosings in the ordinary course of business.
AATI Commercial Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2021
Stocks
Stocks are stated at the lower of cost, after making due allowances for obsolete and slow moving items and estimated selling price less costs to complete and sell.
Cost represents the expenditure incurred in bringing each product to its present location and condition as follows:
Raw materials – Purchase cost
Finished goods – Cost of direct materials, transport and labour
Work in progress represents the proportion of the job complete at the year end. It includes all direct expenditure and an appropriate proportion of fixed and variable overheads, and is uplifted to the sales value.
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. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
No members of staff are employed directly through AATI Commercial Limited and staff costs are recharged through management charges by other group members.
AATI Commercial Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2021
Tangible assets |
Plant, machinery and standard patterns |
Total |
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Cost or valuation |
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At 1 April 2020 |
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At 31 March 2021 |
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Depreciation |
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At 1 April 2020 |
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Charge for the year |
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At 31 March 2021 |
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Carrying amount |
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At 31 March 2021 |
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At 31 March 2020 |
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Stocks |
2021 |
2020 |
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Stocks and work in progress |
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20,702 |
Debtors |
2021 |
2020 |
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Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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Prepayments and accrued income |
5,600 |
504 |
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Included within Debtors are balances due from group undertakings, whilst these amounts are due on demand it is unlikely they will be repaid in full during the coming year.
AATI Commercial Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2021
Creditors |
Creditors: amounts falling due within one year
2021 |
2020 |
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Due within one year |
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Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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Accrued expenses |
1,800 |
1,725 |
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Creditors include invoice discounting arrangements which are secured of £nil (2020 - £78,025).
Share capital |
Allotted, called up and fully paid shares
2021 |
2020 |
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No. |
£ |
No. |
£ |
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10,000 |
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10,000 |
Parent and ultimate parent undertaking |
The company's immediate parent is
Relationship between entity and parents
The parent of the smallest group in which these financial statements are consolidated is
The address of Finch Seaman Enfield Group Limited is:
Springwood Industrial Estate
Braintree
Essex
CM7 2YP