Aldon Automotive Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 01193685 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30th April 2017

for

Aldon Automotive Limited

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTOR:

A J Goodwin

SECRETARY:

Mrs J B Goodwin

REGISTERED OFFICE:

Breener Industrial Estate

Station Drive

Brierley Hill

West Midlands

DY5 3JZ

REGISTERED NUMBER:

01193685 (England and Wales)

ACCOUNTANTS:

Neil Westwood & Co.

Chartered Accountants

101 Dixons Green Road

Dudley

West Midlands

DY2 7DJ

The following reproduces the text of the report prepared for the director 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 Director 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 Aldon Automotive Limited for the year ended 30th April 2017 which

comprise the Statement of Income and Retained Earnings, 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 director of Aldon Automotive Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Aldon Automotive Limited and state those matters that we have agreed to state to the director of Aldon Automotive Limited 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 Aldon Automotive Limited director for our work or for this report.

It is your duty to ensure that Aldon Automotive 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 Aldon Automotive Limited. You consider that Aldon Automotive 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 Aldon Automotive 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.

Neil Westwood & Co.

Chartered Accountants

101 Dixons Green Road

Dudley

West Midlands

DY2 7DJ

15th December 2017

FIXED ASSETS

Tangible assets

4

49,306

56,395

CURRENT ASSETS

Stocks

60,700

54,666

Debtors

5

36,411

43,227

Cash at bank and in hand

78,636

47,039

175,747

144,932

CREDITORS

Amounts falling due within one year

6

187,974

176,000

NET CURRENT LIABILITIES

(12,227

)

(31,068

)

TOTAL ASSETS LESS CURRENT LIABILITIES

37,079

25,327

CREDITORS

Amounts falling due after more than one year

7

-

(3,503

)

PROVISIONS FOR LIABILITIES

(193

)

(193

)

NET ASSETS

36,886

21,631

CAPITAL AND RESERVES

Called up share capital

100

100

Capital redemption reserve

100

100

Retained earnings

36,686

21,431

SHAREHOLDERS' FUNDS

36,886

21,631

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 15th December 2017 and were signed by:

A J Goodwin - Director

1.	STATUTORY INFORMATION

Aldon Automotive 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Long leasehold

-

2% on cost

Plant and machinery

-

20% on cost and 10% on cost

Fixtures and fittings

-

10% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% 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 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.

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 8 .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1st May 2016

70,358

202,097

272,455

Additions

-

1,750

1,750

At 30th April 2017

70,358

203,847

274,205

DEPRECIATION

At 1st May 2016

29,767

186,293

216,060

Charge for year

1,407

7,432

8,839

At 30th April 2017

31,174

193,725

224,899

NET BOOK VALUE

At 30th April 2017

39,184

10,122

49,306

At 30th April 2016

40,591

15,804

56,395

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

31,699

33,151

Other debtors

4,712

10,076

36,411

43,227

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

3,646

4,352

Trade creditors

66,707

62,008

Taxation and social security

15,939

10,404

Other creditors

101,682

99,236

187,974

176,000

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans

-

3,503

8.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

3,646

7,855

The bank loan is secured by a legal charge over land and buildings dated 2nd October 1985.

9.	ULTIMATE CONTROLLING PARTY

The controlling party is A J Goodwin.

10.	FIRST YEAR ADOPTION

The Company has transitioned to FRS 102 from previously being prepared under the historical cost

convention and in accordance with the Financial Reporting Standards for Smaller Entities (effective

April 2008) as at 1st April 2015.

Reconciliation of equity

No transitional adjustments were required

Reconciliation of profit or loss for the year

No transitional adjustments were required