Aclas Technics Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC229729 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2020

for

Aclas Technics Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C Henery

J Rooney

D Slipper

W J Velzian

SECRETARY:

W J Velzian

REGISTERED OFFICE:

5 Rankine Square

Deans Industrial Estate

Deans

Livingston

West Lothian

EH54 8SH

REGISTERED NUMBER:

SC229729 (Scotland)

ACCOUNTANTS:

Crichton Mackie Accounting Services Ltd

66 Barntongate Drive

Edinburgh

EH4 8BY

FIXED ASSETS

Tangible assets

4

202,119

73,631

CURRENT ASSETS

Stocks

605,838

831,692

Debtors

5

654,757

746,758

Cash at bank and in hand

488,339

233,208

1,748,934

1,811,658

CREDITORS

Amounts falling due within one year

6

553,659

778,862

NET CURRENT ASSETS

1,195,275

1,032,796

TOTAL ASSETS LESS CURRENT LIABILITIES

1,397,394

1,106,427

CREDITORS

Amounts falling due after more than one year

7

(454,167

)

-

PROVISIONS FOR LIABILITIES

(9,706

)

(9,706

)

NET ASSETS

933,521

1,096,721

CAPITAL AND RESERVES

Called up share capital

9

100,000

100,000

Retained earnings

833,521

996,721

SHAREHOLDERS' FUNDS

933,521

1,096,721

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 September 2021 and were signed on its behalf by:

C Henery - Director

1.	STATUTORY INFORMATION

Aclas Technics Limited is a private company, limited by shares , registered in Scotland. 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.

Plant and machinery etc

-

33% on cost, 20% on cost and 10% on cost

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 Statement of Income and Retained Earnings, 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 16 (2019 - 15 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2020

362,974

Additions

174,048

At 31 December 2020

537,022

DEPRECIATION

At 1 January 2020

289,343

Charge for year

45,560

At 31 December 2020

334,903

NET BOOK VALUE

At 31 December 2020

202,119

At 31 December 2019

73,631

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade debtors

491,555

525,666

Amounts recoverable on contract

-

64,270

Other debtors

163,202

156,822

654,757

746,758

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Bank loans and overdrafts

45,833

-

Trade creditors

404,060

559,909

Amounts owed to group undertakings

534

97

Taxation and social security

15,034

174,962

Other creditors

88,198

43,894

553,659

778,862

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.20

31.12.19

£

£

Bank loans

454,167

-

8.	LEASING AGREEMENTS

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases of £430,833 (2019 - £400,109)

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.20

31.12.19

value:

£

£

100,000

Ordinary

£1

100,000

100,000