Almeda Facilities Limited - Period Ending 2017-05-31

Almeda Facilities Limited - Period Ending 2017-05-31


Almeda Facilities Limited 03993371 false 2016-06-01 2017-05-31 2017-05-31 The principal activity of the company is that of providing facilities management services, including planned and reactive maintenance, to the public and private sectors Digita Accounts Production Advanced 6.20.8420.0 Software true true 03993371 2016-06-01 2017-05-31 03993371 2017-05-31 03993371 bus:Director1 1 2017-05-31 03993371 core:RetainedEarningsAccumulatedLosses 2017-05-31 03993371 core:ShareCapital 2017-05-31 03993371 core:CurrentFinancialInstruments 2017-05-31 03993371 core:CurrentFinancialInstruments core:WithinOneYear 2017-05-31 03993371 core:LandBuildings 2017-05-31 03993371 core:OtherPropertyPlantEquipment 2017-05-31 03993371 bus:SmallEntities 2016-06-01 2017-05-31 03993371 bus:AuditExemptWithAccountantsReport 2016-06-01 2017-05-31 03993371 bus:FullAccounts 2016-06-01 2017-05-31 03993371 bus:RegisteredOffice 2016-06-01 2017-05-31 03993371 bus:Director1 2016-06-01 2017-05-31 03993371 bus:Director1 1 2016-06-01 2017-05-31 03993371 bus:Director3 2016-06-01 2017-05-31 03993371 bus:PrivateLimitedCompanyLtd 2016-06-01 2017-05-31 03993371 core:LandBuildings 2016-06-01 2017-05-31 03993371 core:OtherPropertyPlantEquipment 2016-06-01 2017-05-31 03993371 core:PlantMachinery 2016-06-01 2017-05-31 03993371 1 2016-06-01 2017-05-31 03993371 countries:UnitedKingdom 2016-06-01 2017-05-31 03993371 2016-05-31 03993371 core:LandBuildings 2016-05-31 03993371 core:OtherPropertyPlantEquipment 2016-05-31 03993371 2015-06-01 2016-05-31 03993371 2016-05-31 03993371 bus:Director1 1 2016-05-31 03993371 core:RetainedEarningsAccumulatedLosses 2016-05-31 03993371 core:ShareCapital 2016-05-31 03993371 core:CurrentFinancialInstruments 2016-05-31 03993371 core:CurrentFinancialInstruments core:WithinOneYear 2016-05-31 03993371 core:LandBuildings 2016-05-31 03993371 core:OtherPropertyPlantEquipment 2016-05-31 03993371 bus:Director1 1 2015-06-01 2016-05-31 iso4217:GBP xbrli:pure

Registration number: 03993371

Almeda Facilities Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2017

 

Almeda Facilities Limited

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 8

 

Almeda Facilities Limited

(Registration number: 03993371)
Balance Sheet as at 31 May 2017

Note

2017
£

2016
£

Fixed assets

 

Tangible assets

4

66,148

76,591

Current assets

 

Stocks

5

8,400

8,400

Debtors

6

1,327,931

2,388,443

Cash at bank and in hand

 

20,243

101,147

 

1,356,574

2,497,990

Creditors: Amounts falling due within one year

7

(1,308,434)

(2,324,862)

Net current assets

 

48,140

173,128

Total assets less current liabilities

 

114,288

249,719

Provisions for liabilities

(9,632)

(11,167)

Net assets

 

104,656

238,552

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

104,556

238,452

Total equity

 

104,656

238,552

For the financial year ending 31 May 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.

 

Almeda Facilities Limited

(Registration number: 03993371)
Balance Sheet as at 31 May 2017

Approved and authorised by the Board on 27 February 2018 and signed on its behalf by:
 

.........................................

Mr B George

Director

 

Almeda Facilities Limited

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

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Redwood House
Bristol Road
Keynsham
Bristol
BS31 2WB
United Kingdom

These financial statements were authorised for issue by the Board on 27 February 2018.

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.

There have been no changes to accounting policies following the transition to the Financial Reporting Standard 102 Section 1A.

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. The date of transition to FRS 102 Secrion 1A was 1 June 2015.

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Almeda Facilities Limited

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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:

Asset class

Depreciation method and rate

Leasehold land and buildings

Straight line over 5 years

Plant and machinery

Straight line over 10, 8, 6 and 4 years

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Almeda Facilities Limited

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

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Almeda Facilities Limited

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

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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 48 (2016 - 21).

4

Tangible assets

Land and buildings
£

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 June 2016

15,221

160,100

175,321

Additions

5,949

11,576

17,525

Disposals

-

(58,192)

(58,192)

At 31 May 2017

21,170

113,484

134,654

Depreciation

At 1 June 2016

9,132

89,598

98,730

Charge for the year

3,540

19,738

23,278

Eliminated on disposal

-

(53,502)

(53,502)

At 31 May 2017

12,672

55,834

68,506

Carrying amount

At 31 May 2017

8,498

57,650

66,148

At 31 May 2016

6,089

70,502

76,591

Included within the net book value of land and buildings above is £8,498 (2016 - £6,089) in respect of long leasehold land and buildings.
 

5

Stocks

2017
£

2016
£

Other inventories

8,400

8,400

 

Almeda Facilities Limited

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

6

Debtors

Note

2017
£

2016
£

Trade debtors

 

817,462

1,451,953

Amounts owed by group undertakings and undertakings in which the company has a participating interest

10

413,086

338,414

Other debtors

 

59,632

569,739

Prepayments and accrued income

 

37,751

28,337

Total current trade and other debtors

 

1,327,931

2,388,443

7

Creditors

Creditors: amounts falling due within one year

Note

2017
£

2016
£

Due within one year

 

Bank loans and overdrafts

8

433,033

475,891

Trade creditors

 

486,627

1,416,779

Taxation and social security

 

195,271

187,432

Other creditors

 

5,758

6,049

Accruals and deferred income

 

187,745

238,711

 

1,308,434

2,324,862

Creditors include bank loans and overdrafts which are secured of £433,033 (2016 - £475,891).

8

Loans and borrowings

2017
£

2016
£

Current loans and borrowings

Other borrowings

433,033

475,891

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £900,980 (2016 - £281,824).

 

Almeda Facilities Limited

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

10

Related party transactions

Transactions with directors

2017

At 1 June 2016
£

Advances to directors
£

At 31 May 2017
£

Mr G George

Directors current account

415

1,560

1,975

       
     

 

2016

At 1 June 2015
£

At 31 May 2016
£

Mr G George

Directors current account

415

415

     
   

 

11

Parent and ultimate parent undertaking

The company's immediate parent is Almeda (Holdings) Limited, incorporated in the UK.

The registered office and principal place of business of Almeda (Holdings) Limited is Redwood House, Bristol Road, Keynsham, Bristol, BS31 2WB.

 

12

Transition to FRS 102

There have been no numerical changes to the accounts or to previous periods in respect of FRS102 Section 1A.