Aston Lovell Limited - Accounts to registrar (filleted) - small 17.3
Aston Lovell Limited - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 MAY 2017 |
| FOR |
| ASTON LOVELL LIMITED |
| ASTON LOVELL LIMITED (REGISTERED NUMBER: 05812718) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 MAY 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| ASTON LOVELL LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 MAY 2017 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 34-40 High Street |
| Wanstead |
| London |
| E11 2RJ |
| ASTON LOVELL LIMITED (REGISTERED NUMBER: 05812718) |
| BALANCE SHEET |
| 30 MAY 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks | 5 |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| 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 by: |
| ASTON LOVELL LIMITED (REGISTERED NUMBER: 05812718) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 MAY 2017 |
| 1. | STATUTORY INFORMATION |
| Aston Lovell Limited is a |
| registered number and registered office address can be found on the Company Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A |
| These financial statements for the year ended 30 May 2017 are the first that are prepared in accordance with |
| FRS 102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the date of |
| transition to FRS 102 Section 1A is 31 May 2015. |
| There have been no significant changes in accounting policies as the result of transition to FRS 102 1A and the |
| comparative figures are unchanged. |
| Revenue recognition |
| Revenue is measured at the fair value of the consideration received or receivable and represents the amount |
| receivable for goods and services supplied, net of returns, discounts and value added taxes. |
| Revenue is recognised in the accounting period in which the services were rendered and when the goods are |
| delivered to the customer, such that the risks and rewards of ownership have passed to them. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Computer equipment | - |
| 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 the profit and loss account on a straight line basis over the |
| period of the lease. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| ASTON LOVELL LIMITED (REGISTERED NUMBER: 05812718) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 MAY 2017 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and | Computer |
| fittings | equipment | Totals |
| £ | £ | £ |
| COST |
| At 31 May 2016 |
| Additions |
| At 30 May 2017 |
| DEPRECIATION |
| At 31 May 2016 |
| Charge for year |
| At 30 May 2017 |
| NET BOOK VALUE |
| At 30 May 2017 |
| At 30 May 2016 |
| 5. | STOCKS |
| 2017 | 2016 |
| £ | £ |
| Stock |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Directors' current accounts | 83,184 | 31,860 |
| Corporation tax recoverable |
| Deferred tax asset |
| Accelerated capital allowances | 26 | 584 |
| Prepayments and accrued income |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade creditors |
| Corporation tax |
| Social security and other taxes |
| VAT | 40,798 | 95,412 |
| Other creditors |
| Customers' deposits | - | 15,000 |
| Directors' current accounts | 23,685 | 1,758 |
| Accrued expenses |
| Customers' deposits relate to monies received on account for the purchase of wine. |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2017 | 2016 |
| £ | £ |
| Within one year |
| ASTON LOVELL LIMITED (REGISTERED NUMBER: 05812718) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 MAY 2017 |
| 9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 30 May 2017 and |
| 30 May 2016: |
| 2017 | 2016 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Interest was charged at 3% on the directors loan account balance, £2,197 (2016: nil) charged to the profit |
| and loss account. |
| 10. | ULTIMATE CONTROLLING PARTY |
| The Directors, Mr B Aston and Mr B Lovell are joint controlling parties. |