Aztec Screeding Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04957543 (England and Wales)

AZTEC SCREEDING LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

I W Goom

S W J Burns

SECRETARY:

Mrs M Bickers

REGISTERED OFFICE:

C/O Wilkins Kennedy

Anglo House, Bell Lane Office Village

Bell Lane

Amersham

Buckinghamshire

HP6 6FA

REGISTERED NUMBER:

04957543 (England and Wales)

FIXED ASSETS

Intangible assets

4

7,500

15,000

Tangible assets

5

115,463

144,204

122,963

159,204

CURRENT ASSETS

Stocks and work in progress

345,759

369,729

Debtors

6

573,573

474,559

Cash at bank and in hand

477,394

66,742

1,396,726

911,030

CREDITORS

Amounts falling due within one year

7

(770,096

)

(623,024

)

NET CURRENT ASSETS

626,630

288,006

TOTAL ASSETS LESS CURRENT LIABILITIES

749,593

447,210

CREDITORS

Amounts falling due after more than one year

8

(29,057

)

(51,564

)

NET ASSETS

720,536

395,646

CAPITAL AND RESERVES

Called up share capital

100

1

Retained earnings

720,436

395,645

SHAREHOLDERS' FUNDS

720,536

395,646

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 29 October 2018 and were signed on its behalf by:

I W Goom - Director

1.	STATUTORY INFORMATION

Aztec Screeding Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Significant judgements and estimates

The preparation of financial statements requires management to make judgements, estimates and

assumptions about the carrying values of assets and liabilities that are not readily apparent from other

sources. The estimates and underlying assumptions are based on historical experience and other

factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to

accounting estimates are recognised in the period in which the estimate is revised if the revision

affects only that period, or in the period of the revision and future periods if the revision affects both

current and future periods.

In the opinion of the Directors, there are no specific key judgements or areas of estimation to disclose.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax and adjusted

for accrued revenue calculated by reference to the fair value of services performed up to the balance

sheet date but not invoiced.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

33.3% on cost, 25% on reducing balance, 20% on reducing balance and 15% on reducing balance

Stocks

Stocks and work in progress and work in progress are valued at the lower of cost and net realisable

value, after making due allowance for obsolete and slow moving items.

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

costs in bringing stocks and work in progress 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

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.

Debtors

Trade and other debtors are measured at transaction price less any impairment, unless the

arrangement constitutes a financing transaction in which case the transaction is measured at the

present value of future receipts discounted at the prevailing market rate of interest.

Loans are initially measured at fair value and are subsequently measured at amortised cost using the

effective interest method less any impairment.

Cash at bank

Cash at bank in the balance sheet comprises cash at banks and in hand and short term deposits with

an original maturity date of three months or less.

Creditors

Trade and other creditors are measured at their transaction price unless the arrangement constitutes a

financing transaction in which case the transaction is measured at the present value of future

payments discounted at the prevailing market rate of interest.

Other financial liabilities are initially measured at fair value net of their transaction costs. They are

subsequently measured at amortised cost using the effective interest method.

Financial reporting standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial

statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and

Republic of Ireland":

- the requirements of Section 7 Statement of Cash Flows;

- the requirements of Section 33 Related Party Disclosures paragraph 33.7.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2017 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2017

and 31 March 2018

75,000

AMORTISATION

At 1 April 2017

60,000

Charge for year

7,500

At 31 March 2018

67,500

NET BOOK VALUE

At 31 March 2018

7,500

At 31 March 2017

15,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2017

292,966

Additions

17,119

Disposals

(20,994

)

At 31 March 2018

289,091

DEPRECIATION

At 1 April 2017

148,762

Charge for year

28,365

Eliminated on disposal

(3,499

)

At 31 March 2018

173,628

NET BOOK VALUE

At 31 March 2018

115,463

At 31 March 2017

144,204

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 April 2017

101,218

Additions

11,995

Disposals

(20,994

)

At 31 March 2018

92,219

DEPRECIATION

At 1 April 2017

31,749

Charge for year

16,540

Eliminated on disposal

(3,499

)

At 31 March 2018

44,790

NET BOOK VALUE

At 31 March 2018

47,429

At 31 March 2017

69,469

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

292,721

198,299

Other debtors

280,852

276,260

573,573

474,559

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Hire purchase contracts

19,697

19,310

Trade creditors

525,667

498,425

Amounts owed to group undertakings

80,000

-

Taxation and social security

107,837

31,681

Other creditors

36,895

73,608

770,096

623,024

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Hire purchase contracts

29,057

51,564