AHM Installations (South) Limited Company Accounts

PERFECT PANELLING LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 07189811

AHM Installations (South) Limited

Filleted Unaudited Financial Statements

For the year year ended

31 March 2017

AHM Installations (South) Limited

Financial Statements

Year ended 31 March 2017

Contents	Page

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	4

The following pages do not form part of the financial statements

Chartered accountant's report to the director on the preparation of the unaudited statutory financial statements	9

AHM Installations (South) Limited

Officers and Professional Advisers

Director	Mr S Symcox

Company secretary	Mrs J Symcox

Registered office	550 Valley Road
	Basford
	Nottingham
	NG5 1JJ

Accountants	Swandec
	Chartered accountant
	550 Valley Road
	Basford
	Nottingham
	NG5 1JJ

Bankers	TSB
	Castlegate
	Newark
	Notts
	NG24 1BD

AHM Installations (South) Limited

Statement of Financial Position

31 March 2017

	2017		2016
Note	£	£	£

Fixed assets

Tangible assets	4		14,599	19,514

Current assets

Debtors	5	38,829	46,512
Cash at bank and in hand		15,344	6,042
		--------	--------
		54,173	52,554

Creditors: amounts falling due within one year	6	48,063		78,205
		--------		--------
Net current assets/(liabilities)			6,110	( 25,651)
			--------	--------
Total assets less current liabilities			20,709	( 6,137)

Creditors: amounts falling due after more than one year	7		17,528	29,153

Provisions

Taxation including deferred tax	2,920	4,653
	--------	--------
Net assets/(liabilities)	261	( 39,943)
	--------	--------

Capital and reserves

Called up share capital	8	110	110
Profit and loss account		151	( 40,053)
		----	--------
Members funds/(deficit)		261	( 39,943)
		----	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the 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.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

AHM Installations (South) Limited

Statement of Financial Position (continued)

31 March 2017

These financial statements were approved by the board of directors and authorised for issue on 9 November 2017 , and are signed on behalf of the board by:

Mr S Symcox
Director

Company registration number: 07189811

AHM Installations (South) Limited

Notes to the Financial Statements

Year ended 31 March 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 550 Valley Road, Basford, Nottingham, NG5 1JJ.

2. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more or a right to pay less tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	25% reducing balance
Motor Vehicles	-	25% reducing balance
Equipment	-	33% straight line

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

3. Employee numbers

The average number of persons employed by the company during the year amounted to 5 (2016: 4 ).

4. Tangible assets

	Plant and machinery	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 1 April 2016 and 31 March 2017	30,453	10,995	1,174	42,622
	--------	--------	-------	--------
Depreciation
At 1 April 2016	14,496	7,903	709	23,108
Charge for the year	4,068	773	74	4,915
	--------	--------	-------	--------
At 31 March 2017	18,564	8,676	783	28,023
	--------	--------	-------	--------
Carrying amount
At 31 March 2017	11,889	2,319	391	14,599
	--------	--------	-------	--------
At 31 March 2016	15,957	3,092	465	19,514
	--------	--------	-------	--------

5. Debtors

	2017	2016
	£	£
Trade debtors	32,604	41,418
Other debtors	6,225	5,094
	--------	--------
	38,829	46,512
	--------	--------

6. Creditors: amounts falling due within one year

	2017	2016
	£	£
Bank loans and overdrafts	10,000	10,000
Trade creditors	23,988	46,052
Corporation tax	9,708	3,192
Social security and other taxes	2,626	1,897
Other creditors	1,741	17,064
	--------	--------
	48,063	78,205
	--------	--------

7. Creditors: amounts falling due after more than one year

	2017	2016
	£	£
Bank loans and overdrafts	17,528	27,501
Other creditors	–	1,652
	--------	--------
	17,528	29,153
	--------	--------

8. Called up share capital

Issued, called up and fully paid

	2017		2016
	No.	£	No.	£
Ordinary A shares of £ 1 each	90	90	90	90
Ordinary B shares of £ 1 each	10	10	10	10
Ordinary C shares of £ 1 each	10	10	10	10
	----	----	----	----
	110	110	110	110
	----	----	----	----

9. Director's advances, credits and guarantees

At the statement of financial position date the company owed the director £657 (2016: £1,837). This amount is unsecured, interest free and repayable on demand.

AHM Installations (South) Limited

Management Information

Year ended 31 March 2017

The following pages do not form part of the financial statements.

AHM Installations (South) Limited

Chartered Accountant's Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of AHM Installations (South) Limited

Year ended 31 March 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of AHM Installations (South) Limited for the year ended 31 March 2017, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of AHM Installations (South) Limited in accordance with the terms of our engagement letter dated 26 October 2017. Our work has been undertaken solely to prepare for your approval the financial statements of AHM Installations (South) Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than AHM Installations (South) Limited and its director for our work or for this report.

It is your duty to ensure that AHM Installations (South) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of AHM Installations (South) Limited. You consider that AHM Installations (South) Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of AHM Installations (South) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Swandec Chartered accountant

550 Valley Road Basford Nottingham NG5 1JJ

9 November 2017