A.J. Taylor Electrical Contractors Ltd - Accounts to registrar (filleted) - small 18.1
A.J. Taylor Electrical Contractors Ltd - Accounts to registrar (filleted) - small 18.1
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2017 |
| FOR |
| A.J. TAYLOR ELECTRICAL CONTRACTORS |
| LIMITED |
| A.J. TAYLOR ELECTRICAL CONTRACTORS |
| LIMITED (REGISTERED NUMBER: 03319595) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| A.J. TAYLOR ELECTRICAL CONTRACTORS |
| LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 SEPTEMBER 2017 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| BUSINESS ADDRESS: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 30 New Road |
| Brighton |
| East Sussex |
| BN1 1BN |
| A.J. TAYLOR ELECTRICAL CONTRACTORS |
| LIMITED (REGISTERED NUMBER: 03319595) |
| BALANCE SHEET |
| 30 SEPTEMBER 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| 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 |
| A.J. TAYLOR ELECTRICAL CONTRACTORS |
| LIMITED (REGISTERED NUMBER: 03319595) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2017 |
| 1. | STATUTORY INFORMATION |
| A.J. Taylor Electrical Contractors Limited is a |
| company's 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 September 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 1 October 2015. |
| There have been no changes to accounting policies nor to any balances in the financial statements. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value |
| added tax and other sales taxes. |
| Profit is recognised on long-term contracts, if the final outcome can be assessed with reasonable certainty, by including in |
| the profit and loss account turnover and related costs as contract activity progresses. Turnover is calculated as the |
| proportion of total contract value completed to date. |
| Tangible fixed assets |
| Improvements to property | - |
| Plant and machinery | - |
| Motor vehicles | - |
| 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. |
| A.J. TAYLOR ELECTRICAL CONTRACTORS |
| LIMITED (REGISTERED NUMBER: 03319595) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire |
| purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over |
| their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the |
| future payments is treated as a liability. |
| 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. |
| Long term contracts |
| Amounts recoverable on long term contracts, which are included in debtors, are stated at the net sales value of the work |
| done after provision for contingencies and anticipated future losses on contracts, less amounts received as progress |
| payments on account. Excess progress payments are included in creditors as payments on account. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements |
| to | Plant and | Motor |
| property | machinery | vehicles | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 October 2016 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 30 September 2017 |
| DEPRECIATION |
| At 1 October 2016 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 30 September 2017 |
| NET BOOK VALUE |
| At 30 September 2017 |
| At 30 September 2016 |
| A.J. TAYLOR ELECTRICAL CONTRACTORS |
| LIMITED (REGISTERED NUMBER: 03319595) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2017 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Motor |
| vehicles |
| £ |
| COST |
| At 1 October 2016 |
| Additions |
| At 30 September 2017 |
| DEPRECIATION |
| At 1 October 2016 |
| Charge for year |
| At 30 September 2017 |
| NET BOOK VALUE |
| At 30 September 2017 |
| At 30 September 2016 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Amounts recoverable on contracts |
| Prepayments |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Tax |
| Social security and other taxes |
| VAT | 114,851 | 118,114 |
| Other creditors |
| Directors' loan accounts | 91 | 1,367 |
| Accruals and deferred income |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| Bank loans more 5 yr by instal |
| Hire purchase contracts |
| A.J. TAYLOR ELECTRICAL CONTRACTORS |
| LIMITED (REGISTERED NUMBER: 03319595) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2017 |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
| 2017 | 2016 |
| £ | £ |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | - | 14,502 |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2017 | 2016 |
| £ | £ |
| Bank overdrafts |
| Bank loans |
| Hire purchase contracts | 49,790 | 58,638 |
| The bank borrowings are secured by the director in the form of a personal guarantee, and a charge over the company's |
| premises, which are owned by the director. Net obligations under hire purchase contracts are secured on the asset |
| acquired. |
| 9. | PROVISIONS FOR LIABILITIES |
| 2017 | 2016 |
| £ | £ |
| Deferred tax | 12,100 | 11,200 |
| Deferred |
| tax |
| £ |
| Balance at 1 October 2016 |
| Accelerated capital allowance | 900 |
| Balance at 30 September 2017 |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2017 | 2016 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |