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Registered number: 04555046
A J T GROUNDCARE LTD
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2017
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A J T GROUNDCARE LTD
REGISTERED NUMBER: 04555046
BALANCE SHEET
AS AT 31 MARCH 2017
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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 Page 1
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A J T GROUNDCARE LTD
REGISTERED NUMBER: 04555046
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2017
The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 18 September 2017.
The notes on pages 3 to 10 form part of these financial statements.
Page 2
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A J T GROUNDCARE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2017
A J T Groundcare Ltd, 04555046, is a private limited company limited by shares, incorporated in England and Wales, with its registered office and principal place of business at Tanybryn, Pontdolgoch, Caersws, Powys, SY17 5NJ.
The principal activity of the company is that of machinery sales.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
·the Company has transferred the significant risks and rewards of ownership to the buyer;
·the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
·the amount of revenue can be measured reliably;
·it is probable that the Company will receive the consideration due under the transaction; and
·the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
·the amount of revenue can be measured reliably;
·it is probable that the Company will receive the consideration due under the contract;
·the stage of completion of the contract at the end of the reporting period can be measured reliably; and
·the costs incurred and the costs to complete the contract can be measured reliably.
Page 3
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A J T GROUNDCARE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2017
2.Accounting policies (continued)
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Profit and loss account.
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted averagebasis. Work in progress and finished goods include labour and attributable overheads.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Page 4
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A J T GROUNDCARE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2017
2.Accounting policies (continued)
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Finance costs are charged to the Profit and loss account over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
All borrowing costs are recognised in the Profit and loss account in the year in which they are incurred.
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Judgments in applying accounting policies and key sources of estimation uncertainty
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Estimates and judgments are continually evaluated and are based on historical experience and other
factors, including expectations or future events that are believed to be reasonable under the
circumstances.
The Company makes estimates and assumptions concerning the future. The resulting accounting
estimates will, by definition, seldom equal the relates actual results. In the opinion of the directors there
are no estimates nor assumptions that have a significant risk of causing a material adjustment to the
carrying amounts of assets and liabilities within the next financial year.
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The average monthly number of employees, including directors, during the year was 1 (2016 - 1).
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Page 5
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A J T GROUNDCARE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2017
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Charge for the year on owned assets
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Page 6
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A J T GROUNDCARE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2017
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Finished goods and goods for resale
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Other taxation and social security
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Accruals and deferred income
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Page 7
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A J T GROUNDCARE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2017
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Creditors: Amounts falling due after more than one year
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Analysis of the maturity of loans is given below:
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Amounts falling due within one year
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Amounts falling due 1-2 years
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Amounts falling due 2-5 years
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Page 8
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A J T GROUNDCARE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2017
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Financial assets measured at fair value through profit or loss
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Financial assets measured at fair value through profit or loss comprise of cash in bank, stocks, and debtors.
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Related party transactions
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ncluded in other creditors is a loan from Mrs L Thomas (shareholder) in the sum of £63,845 (2016: £63,845)
Included in other creditors is a balance due to Mr AJ Thomas, director, in the sum of £146,410 (2016: £45,229)
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The company is under the joint control of Mr and Mrs AJ Thomas, who own 100% of the issued share capital.
Page 9
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A J T GROUNDCARE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2017
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First time adoption of FRS 102
The policies applied under the entity's previous accounting framework are not materially
different to FRS 102 and have not impacted on equity or profit or loss.
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Page 10
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