Amberley Stores Limited T/A Amberley Security 28/02/2018 iXBRL

Amberley Stores Limited T/A Amberley Security 28/02/2018 iXBRL

AMBERLEY STORES LIMITED - Company Information

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Company registration number: 00714933
Amberley Stores Limited T/A Amberley Security
Financial statements
28 February 2018
Amberley Stores Limited T/A Amberley Security
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Amberley Stores Limited T/A Amberley Security
Directors and other information
Directors
Henrietta Grace Andrews
John Henry Andrews
Scott John Andrews
Secretary Scott John Andrews
Company number 00714933
Registered office 185/187 Copnor Road
Portsmouth
Hampshire
PO3 5BT
Accountants Arthur Daniels & Company
227A West Street
Fareham
PO16 0HZ
Amberley Stores Limited T/A Amberley Security
Chartered accountants report to the board of directors on the preparation of the
statutory financial statements of Amberley Stores Limited T/A Amberley Security
Year ended 28 February 2018
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 28 February 2018 which comprise the statement of financial position, statement of changes in equity and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Arthur Daniels & Company
Chartered Accountants
227A West Street
Fareham
PO16 0HZ
23 October 2018
Amberley Stores Limited T/A Amberley Security
Statement of financial position
28 February 2018
2018 2017
Note £ £ £ £
Fixed assets
Tangible assets 5 45,801 45,084
_______ _______
45,801 45,084
Current assets
Stocks 15,396 16,195
Debtors 6 7,976 10,331
Cash at bank and in hand - 782
_______ _______
23,372 27,308
Creditors: amounts falling due
within one year 7 ( 46,788) ( 45,698)
_______ _______
Net current liabilities ( 23,416) ( 18,390)
_______ _______
Total assets less current liabilities 22,385 26,694
Creditors: amounts falling due
after more than one year 8 ( 20,296) ( 23,551)
_______ _______
Net assets 2,089 3,143
_______ _______
Capital and reserves
Called up share capital 3,000 3,000
Profit and loss account ( 911) 143
_______ _______
Shareholders funds 2,089 3,143
_______ _______
For the year ending 28 February 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 23 October 2018 , and are signed on behalf of the board by:
Scott John Andrews
Director
Company registration number: 00714933
Amberley Stores Limited T/A Amberley Security
Statement of changes in equity
Year ended 28 February 2018
Called up share capital Profit and loss account Total
£ £ £
At 1 March 2016 3,000 ( 2,403) 597
Profit for the year 21,146 21,146
_______ _______ _______
Total comprehensive income for the year - 21,146 21,146
Dividends paid and payable ( 18,600) ( 18,600)
_______ _______ _______
Total investments by and distributions to owners - ( 18,600) ( 18,600)
_______ _______ _______
At 28 February 2017 and 1 March 2017 3,000 143 3,143
Profit for the year 19,946 19,946
_______ _______ _______
Total comprehensive income for the year - 19,946 19,946
Dividends paid and payable ( 21,000) ( 21,000)
_______ _______ _______
Total investments by and distributions to owners - ( 21,000) ( 21,000)
_______ _______ _______
At 28 February 2018 3,000 ( 911) 2,089
_______ _______ _______
Amberley Stores Limited T/A Amberley Security
Notes to the financial statements
Year ended 28 February 2018
1. General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is 185/187 Copnor Road, Portsmouth, Hampshire, PO3 5BT.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
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.
Taxation
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.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
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:
Freehold property - 2 % straight line
Fittings fixtures and equipment - 25 % reducing balance
Motor vehicles - 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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2017: 6 ).
5. Tangible assets
Freehold property Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £ £
Cost
At 1 March 2017 51,303 318 48,850 22,225 122,696
Additions - - - 4,250 4,250
_______ _______ _______ _______ _______
At 28 February 2018 51,303 318 48,850 26,475 126,946
_______ _______ _______ _______ _______
Depreciation
At 1 March 2017 12,320 - 43,769 21,522 77,611
Charge for the year 1,026 - 1,270 1,238 3,534
_______ _______ _______ _______ _______
At 28 February 2018 13,346 - 45,039 22,760 81,145
_______ _______ _______ _______ _______
Carrying amount
At 28 February 2018 37,957 318 3,811 3,715 45,801
_______ _______ _______ _______ _______
At 28 February 2017 38,983 318 5,081 703 45,085
_______ _______ _______ _______ _______
6. Debtors
2018 2017
£ £
Trade debtors 6,765 9,070
Other debtors 1,211 1,261
_______ _______
7,976 10,331
_______ _______
7. Creditors: amounts falling due within one year
2018 2017
£ £
Bank loans and overdrafts 7,353 5,003
Trade creditors 9,195 13,070
Corporation tax 4,394 5,189
Social security and other taxes 7,194 6,098
Other creditors 18,652 16,338
_______ _______
46,788 45,698
_______ _______
8. Creditors: amounts falling due after more than one year
2018 2017
£ £
Other creditors 20,296 23,551
_______ _______
9. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2018
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
John Henry Andrews ( 11,336) ( 329) - ( 11,665)
Scott John Andrews ( 790) - 650 ( 140)
_______ _______ _______ _______
( 12,126) ( 329) 650 ( 11,805)
_______ _______ _______ _______
2017
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
John Henry Andrews ( 9,472) ( 1,864) - ( 11,336)
Scott John Andrews ( 400) ( 390) - ( 790)
_______ _______ _______ _______
( 9,872) ( 2,254) - ( 12,126)
_______ _______ _______ _______