APP Lifting Services Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 02858850 (England and Wales)

Unaudited Financial Statements

for the Year Ended 28 February 2017

for

APP Lifting Services Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

9

DIRECTORS:

P D Wright

Mrs L A Wright

SECRETARY:

Mrs L A Wright

REGISTERED OFFICE:

LKH Estate

Tickhill Road

Balby

Doncaster

South Yorkshire

DN4 8QG

REGISTERED NUMBER:

02858850 (England and Wales)

ACCOUNTANTS:

Wright Vigar Limited

Chartered Accountants & Business Advisers

Chancery Court

34 West Street

Retford

Nottinghamshire

DN22 6ES

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

397,283

221,359

397,283

221,359

CURRENT ASSETS

Stocks

532,211

516,711

Debtors

6

834,848

889,274

Cash at bank and in hand

13,516

14,397

1,380,575

1,420,382

CREDITORS

Amounts falling due within one year

7

767,673

863,384

NET CURRENT ASSETS

612,902

556,998

TOTAL ASSETS LESS CURRENT LIABILITIES

1,010,185

778,357

CREDITORS

Amounts falling due after more than one year

8

(212,207

)

(165,000

)

PROVISIONS FOR LIABILITIES

(20,650

)

(8,570

)

NET ASSETS

777,328

604,787

CAPITAL AND RESERVES

Called up share capital

11

30

30

Capital redemption reserve

102

102

Retained earnings

777,196

604,655

SHAREHOLDERS' FUNDS

777,328

604,787

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 10 November 2017 and were signed on its behalf by:

P D Wright - Director

1.	STATUTORY INFORMATION

APP Lifting Services Limited is a private company, limited by shares , registered in England and Wales. 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

Goodwill

Goodwill previously purchased by the company has been fully amortised within the accounts.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Short leasehold

-

Straight line over 5 years

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance

for obsolete and slow moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and

variable overheads.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those

held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance

leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital

element of the future payments is treated as a liability.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 29 February 2016

and 28 February 2017

152,000

AMORTISATION

At 29 February 2016

and 28 February 2017

152,000

NET BOOK VALUE

At 28 February 2017

-

At 28 February 2016

-

5.	TANGIBLE FIXED ASSETS

Short

Plant and

Motor

leasehold

machinery

vehicles

Totals

£

£

£

£

COST

At 29 February 2016

37,551

289,517

138,338

465,406

Additions

37,539

42,238

172,816

252,593

Disposals

-

-

(51,153

)

(51,153

)

At 28 February 2017

75,090

331,755

260,001

666,846

DEPRECIATION

At 29 February 2016

15,124

152,481

76,442

244,047

Charge for year

10,933

24,403

25,471

60,807

Eliminated on disposal

-

-

(35,291

)

(35,291

)

At 28 February 2017

26,057

176,884

66,622

269,563

NET BOOK VALUE

At 28 February 2017

49,033

154,871

193,379

397,283

At 28 February 2016

22,427

137,036

61,896

221,359

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 29 February 2016

15,408

Additions

189,316

Transfer to ownership

(15,408

)

At 28 February 2017

189,316

DEPRECIATION

At 29 February 2016

6,921

Charge for year

14,244

Transfer to ownership

(6,921

)

At 28 February 2017

14,244

NET BOOK VALUE

At 28 February 2017

175,072

At 28 February 2016

8,487

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

416,795

485,484

Other debtors

418,053

403,790

834,848

889,274

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

10,050

9,996

Hire purchase contracts (see note 9)

46,586

4,708

Trade creditors

375,256

466,861

Taxation and social security

70,868

76,377

Other creditors

264,913

305,442

767,673

863,384

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans

19,288

29,896

Hire purchase contracts (see note 9)

101,943

-

Other creditors

90,976

135,104

212,207

165,000

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

2017

2016

£

£

Net obligations repayable:

Within one year

46,586

4,708

Between one and five years

101,943

-

148,529

4,708

Non-cancellable operating

leases

2017

2016

£

£

Within one year

108,094

106,609

Between one and five years

310,849

344,913

In more than five years

554,400

624,400

973,343

1,075,922

10.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

29,338

39,892

Hire purchase contracts

148,529

4,708

Invoice discounting account

184,460

241,231

Other loan

135,104

175,350

497,431

461,181

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

30

Ordinary

£1

30

30

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 28 February 2017 and

28 February 2016:

2017

2016

£

£

P D Wright and Mrs L A Wright

Balance outstanding at start of year

-

6,537

Amounts advanced

10,994

-

Amounts repaid

-

(6,537

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

10,994

-

The Loan was unsecured and was repayable on demand. Interest was charged at 3% per annum and the total

interest charged to 28 February 2017 was £1,250. The loan was repaid in full on the 28 March 2017.

13.	RELATED PARTY DISCLOSURES

P & D Investments UK Limited

A company registered in England & Wales of which both P D Wright and Mrs L A Wright are directors and

beneficial owners.

During the year an interest free loan subsisted between the companies. As at the 28 February 2017 P & D

Investments UK Limited owed the company £377,823 (2016: £389,052) this amount is included in other debtors

at note 8.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to

file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements

and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of APP Lifting Services Limited for the year ended 28 February 2017 which comprise the Income

Statement, Balance Sheet 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of APP Lifting Services Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of APP Lifting Services Limited and state those matters that we have agreed to state to the Board of Directors of APP Lifting Services Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than APP Lifting Services Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that APP Lifting Services 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 APP Lifting Services Limited. You consider that APP Lifting Services 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 APP Lifting Services 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.

Wright Vigar Limited

Chartered Accountants & Business Advisers

Chancery Court

34 West Street

Retford

Nottinghamshire

DN22 6ES

Date: .............................................