Affordable Contract Services Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 09590154 (England and Wales)

Financial Statements

for the Year Ended 31 May 2017

for

Affordable Contract Services Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A R Horabin

REGISTERED OFFICE:

Unit 23

Tan House Lane

Widnes

Cheshire

WA8 0SW

REGISTERED NUMBER:

09590154 (England and Wales)

ACCOUNTANTS:

Sloan & Co.

Chartered Accountants

Granite Buildings

6 Stanley Street

Liverpool

Merseyside

L1 6AF

FIXED ASSETS

Tangible assets

4

50,026

15,975

CURRENT ASSETS

Stocks

33,000

-

Debtors

25,412

27,942

Cash at bank

14,447

2,283

72,859

30,225

CREDITORS

Amounts falling due within one year

102,206

45,668

NET CURRENT LIABILITIES

(29,347

)

(15,443

)

TOTAL ASSETS LESS CURRENT LIABILITIES

20,679

532

CREDITORS

Amounts falling due after more than one year

19,979

-

NET ASSETS

700

532

CAPITAL AND RESERVES

Called up share capital

50

50

Retained earnings

650

482

SHAREHOLDERS' FUNDS

700

532

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 May 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director on 5 October 2017 and were signed by:

A R Horabin - Director

1.	STATUTORY INFORMATION

Affordable Contract 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.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2016

21,300

Additions

50,727

At 31 May 2017

72,027

DEPRECIATION

At 1 June 2016

5,325

Charge for year

16,676

At 31 May 2017

22,001

NET BOOK VALUE

At 31 May 2017

50,026

At 31 May 2016

15,975