Azpects Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06800513 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2018

for

Azpects Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P L Taylor

M Downing

SECRETARY:

P L Taylor

REGISTERED OFFICE:

1 London Road

Ipswich

IP1 2HA

REGISTERED NUMBER:

06800513 (England and Wales)

ACCOUNTANTS:

GMS Francis Clarks Limited

1 London Road

Ipswich

Suffolk

IP1 2HA

FIXED ASSETS

59,812

Tangible assets

4

77,938

CURRENT ASSETS

201,143

Stocks

69,937

1,582,917

Debtors

5

1,843,973

443,445

Cash at bank and in hand

961,623

2,227,505

2,875,533

CREDITORS

950,736

Amounts falling due within one year

6

1,259,602

1,276,769

NET CURRENT ASSETS

1,615,931

1,336,581

TOTAL ASSETS LESS CURRENT LIABILITIES

1,693,869

6,676

PROVISIONS FOR LIABILITIES

15,267

1,329,905

NET ASSETS

1,678,602

CAPITAL AND RESERVES

100

Called up share capital

100

1,329,805

Retained earnings

1,678,502

1,329,905

SHAREHOLDERS' FUNDS

1,678,602

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2018 in accordance with Section 476 of the Companies Act 2006.

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.

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.

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 2 November 2018 and were signed on its behalf by:

P L Taylor - Director

1.	STATUTORY INFORMATION

Azpects 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 cost and 20% on cost

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 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 24 (2017 - 20 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2017

131,419

Additions

63,960

Disposals

(33,620

)

At 30 June 2018

161,759

DEPRECIATION

At 1 July 2017

71,607

Charge for year

26,923

Eliminated on disposal

(14,709

)

At 30 June 2018

83,821

NET BOOK VALUE

At 30 June 2018

77,938

At 30 June 2017

59,812

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.18

30.6.17

£

£

Trade debtors

1,814,384

1,557,374

Other debtors

29,589

25,543

1,843,973

1,582,917

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.18

30.6.17

£

£

Trade creditors

681,581

426,779

Taxation and social security

495,543

440,819

Other creditors

82,478

83,138

1,259,602

950,736

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

30.6.18

30.6.17

£

£

Within one year

-

2,257

Between one and five years

-

59,163

-

61,420

8.	CAPITAL COMMITMENTS

30.6.18

30.6.17

£

£

Contracted but not provided for in the

financial statements

68,340

81,420

9.	ULTIMATE CONTROLLING PARTY

The company is controlled by its directors.