ARIES TRANSPORT LIMITED

ARIES TRANSPORT LIMITED

ARIES TRANSPORT LIMITED - Company Information

Print Friendly Version

ARIES TRANSPORT LIMITED

Company Registration Number:
03678392 (England and Wales)

Unaudited abridged accounts for the year ended 31 August 2017

Period of accounts

Start date: 01 September 2016

End date: 31 August 2017

ARIES TRANSPORT LIMITED

Contents of the Financial Statements

for the Period Ended 31 August 2017

Balance sheet
Notes

ARIES TRANSPORT LIMITED

Balance sheet

As at 31 August 2017


Notes
2017
2016


£
£
Fixed assets
Tangible assets: 3 129,610 98,493
Total fixed assets: 129,610 98,493
Current assets
Debtors: 4 124,221 73,169
Cash at bank and in hand: 63,573 158,123
Total current assets: 187,794 231,292
Creditors: amounts falling due within one year: 5 (206,033) (220,813)
Net current assets (liabilities): (18,239) 10,479
Total assets less current liabilities: 111,371 108,972
Total net assets (liabilities): 111,371 108,972
Capital and reserves
Called up share capital: 1,000 1,000
Profit and loss account: 110,371 107,972
Shareholders funds: 111,371 108,972

The notes form part of these financial statements

ARIES TRANSPORT LIMITED

Balance sheet statements

For the year ending 31 August 2017 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 17 October 2017
and signed on behalf of the board by:

Name: D Wiles
Status: Director

The notes form part of these financial statements

ARIES TRANSPORT LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2017

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets and depreciation policy

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows Fixtures,Fittings & Equipment and Motor Vehicles Both 25% reducing balance. If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Other accounting policies

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

ARIES TRANSPORT LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2017

2. Employees

2017 2016
Average number of employees during the period 3 3

ARIES TRANSPORT LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2017

3. Tangible Assets

Total
Cost £
At 01 September 2016 258,006
Additions 45,603
At 31 August 2017 303,609
Depreciation
At 01 September 2016 159,513
Charge for year 14,486
At 31 August 2017 173,999
Net book value
At 31 August 2017 129,610
At 31 August 2016 98,493

ARIES TRANSPORT LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2017

4. Debtors

Trade Debtors £124,221

ARIES TRANSPORT LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2017

5. Creditors: amounts falling due within one year note

Bank Loans and Overdrafts £8,537 Trade Creditors £76,943 Corporation Tax £2,820 Social Security and Other Taxes £30,271 Other Creditors £87,462