Anaco Air Conditioning Limited - Period Ending 2017-03-31

Registration number: 04117360

Anaco Air Conditioning Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2017

Anaco Air Conditioning Limited

Contents

 

Balance Sheet	1 to 2
Notes to the Financial Statements	3 to 7

Anaco Air Conditioning Limited

Registration number: 04117360

Balance Sheet as at 31 March 2017

	Note	2017 £	2016 £
Fixed assets
Tangible assets	4	38,626	33,325
Current assets
Stocks	5	1,000	1,000
Debtors	6	153,275	86,306
Cash at bank and in hand		108,807	102,060
		263,082	189,366
Creditors: Amounts falling due within one year	7	(148,839)	(125,668)
Net current assets		114,243	63,698
Total assets less current liabilities		152,869	97,023
Creditors: Amounts falling due after more than one year	7	(10,127)	(6,620)
Provisions for liabilities		(7,725)	(6,665)
Net assets		135,017	83,738
Capital and reserves
Called up share capital		1,000	1,000
Profit and loss account		134,017	82,738
Total equity		135,017	83,738

The director's statements required by sections 475 (2) and (3) are shown on the following page which forms part of this Balance Sheet.

The notes on pages 3 to 7 form an integral part of these financial statements.

Page 1

Anaco Air Conditioning Limited

Registration number: 04117360

Balance Sheet as at 31 March 2017 (continued)

For the financial year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	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 Board on 1 November 2017 and signed on its behalf by:
 

AP Goodson

Company secretary and director

NP Middleton

Director

The notes on pages 3 to 7 form an integral part of these financial statements.

Page 2

Anaco Air Conditioning Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

1	General information

The company is a private company limited by share capital incorporated in England & Wales.

The address of its registered office is:
The Old Dairy
Mill Road
Barnham Broom
Norfolk
NR9 4DE

These financial statements were authorised for issue by the Board on 1 November 2017.

2	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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

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.

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:

Page 3

Anaco Air Conditioning Limited

Notes to the Financial Statements for the Year Ended 31 March 2017 (continued)

2	Accounting policies (continued)

Asset class	Depreciation method and rate
Motor Vehicles	25% Reducing balance method
Plant and machinery	25% Straight line method
Computer equipment	25% Straight line method

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2016 - 8).

Page 4

Anaco Air Conditioning Limited

Notes to the Financial Statements for the Year Ended 31 March 2017 (continued)

4	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Other property, plant and equipment  £	Total £
Cost or valuation
At 1 April 2016	10,750	66,353	6,277	83,380
Additions	893	16,590	108	17,591
Disposals	(128)	(12,270)	-	(12,398)
At 31 March 2017	11,515	70,673	6,385	88,573
Depreciation
At 1 April 2016	7,635	36,254	6,166	50,055
Charge for the year	1,459	6,898	51	8,408
Eliminated on disposal	(128)	(8,388)	-	(8,516)
At 31 March 2017	8,966	34,764	6,217	49,947
Carrying amount
At 31 March 2017	2,549	35,909	168	38,626
At 31 March 2016	3,115	30,099	111	33,325

5

Stocks

	2017 £	2016 £
Other inventories	1,000	1,000

Page 5

Anaco Air Conditioning Limited

Notes to the Financial Statements for the Year Ended 31 March 2017 (continued)

6

Debtors

	2017 £	2016 £
Trade debtors	147,694	80,410
Other debtors	5,581	5,896
Total current trade and other debtors	153,275	86,306

7

Creditors

	Note	2017 £	2016 £
Due within one year
Bank loans and overdrafts	8	6,493	5,328
Trade creditors		88,111	52,704
Directors loan accounts		6,457	7,451
Taxation and social security		10,260	12,028
Other creditors		37,518	48,157
		148,839	125,668
Due after one year
Loans and borrowings	8	10,127	6,620

8	Loans and borrowings

	2017 £	2016 £
Non-current loans and borrowings
Finance lease liabilities	10,127	6,620

Page 6

Anaco Air Conditioning Limited

Notes to the Financial Statements for the Year Ended 31 March 2017 (continued)

8	Loans and borrowings (continued)

	2017 £	2016 £
Current loans and borrowings
Finance lease liabilities	6,493	5,328

Page 7