Aim Design & Build Limited - Period Ending 2021-03-31
Aim Design & Build Limited - Period Ending 2021-03-31
Registration number:
Aim Design & Build Limited
for the
Year Ended 31 March 2021
Aim Design & Build Limited
Contents
Balance Sheet |
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Notes to the Unaudited Financial Statements |
Aim Design & Build Limited
Balance Sheet
as at 31 March 2021
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2020 |
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Fixed assets |
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Tangible assets |
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Current assets |
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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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Allotted, called up and fully paid share capital |
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Profit and loss account |
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Shareholders' funds |
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Registration number: 07992261
Aim Design & Build Limited
Balance Sheet
as at 31 March 2021 (continued)
For the financial year ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his 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
.........................................
Director
Aim Design & Build Limited
Notes to the Unaudited Financial Statements
for the
Year Ended 31 March 2021
General information |
The company is a private company limited by shares incorporated in England within the United Kingdom.
The company's registration number is 07992261.
The address of its registered office is:
The principal place of business is:
Suite 12 & 13, Penistone 1
Regent Court
St Mary’s Street
Penistone
South Yorkshire
S36 6DT
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 except that as disclosed in the accounting policies certain items are shown at fair value.
Aim Design & Build Limited
Notes to the Unaudited Financial Statements
for the
Year Ended 31 March 2021
(continued)
2 |
Accounting policies (continued) |
Revenue recognition
Revenue is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.
Revenue from contracts is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated with reference to certified works. Revenue is only recognised where the outcome can be estimated reliably. When it is probable that the total costs on a contract will exceed the total contract revenue, the expected loss is recognised as an expense in the profit and loss account.
Amounts recoverable on contracts are included within trade debtors. Payments received on account for contracts are included within deferred income.
Government grants
Grants relating to revenue are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.
A grant that becomes receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs shall be recognised in income in the period in which it becomes receivable.
Tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred 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 tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Aim Design & Build Limited
Notes to the Unaudited Financial Statements
for the
Year Ended 31 March 2021
(continued)
2 |
Accounting policies (continued) |
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant and machinery |
25% per annum on a reducing balance basis |
Fixtures and fittings |
15% per annum on a reducing balance basis |
Motor vehicles |
25% per annum on a reducing balance basis |
Computer equipment |
33 1/3% per annum on a straight line basis |
Leases
Rentals in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Currently no staff wish to be enrolled into a company pension scheme.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Aim Design & Build Limited
Notes to the Unaudited Financial Statements
for the
Year Ended 31 March 2021
(continued)
Tangible assets |
Fixtures, fittings and computer equipment |
Motor vehicles |
Plant and machinery |
Total |
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Cost |
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At 1 April 2020 |
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Additions |
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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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Net book value |
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At 31 March 2021 |
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At 31 March 2020 |
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Debtors |
2021 |
2020 |
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Trade debtors |
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Prepayments |
9,850 |
7,752 |
Other debtors |
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Aim Design & Build Limited
Notes to the Unaudited Financial Statements
for the
Year Ended 31 March 2021
(continued)
Creditors |
2021 |
2020 |
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Due within one year |
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Trade creditors |
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Director current account |
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Taxation and social security |
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Other creditors |
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Accruals |
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Corporation tax |
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Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £