Source Aluminium Systems Limited - Accounts to registrar (filleted) - small 18.2

Source Aluminium Systems Limited - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: 09151184 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2018

for

Source Aluminium Systems Limited

Source Aluminium Systems Limited (Registered number: 09151184)

Contents of the Financial Statements
for the Year Ended 31 March 2018










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Source Aluminium Systems Limited

Company Information
for the Year Ended 31 March 2018







DIRECTORS: Mrs J E Cockle
G Darlington
S A Gribble
M A Gribble





SECRETARY: Mrs J E Cockle





REGISTERED OFFICE: 197 South Liberty Lane
Ashton Vale Trading Estate
Ashton
Bristol
BS3 2TN





REGISTERED NUMBER: 09151184 (England and Wales)





ACCOUNTANTS: WF Accounting Ltd
The Coach House
5 Westaway Close
Yatton
North Somerset
BS49 4JS

Source Aluminium Systems Limited (Registered number: 09151184)

Balance Sheet
31 March 2018

31.3.18 31.3.17
Notes £    £   
FIXED ASSETS
Intangible assets 4 181,350 209,250
Tangible assets 5 25,249 28,332
206,599 237,582

CURRENT ASSETS
Stocks 11,000 13,000
Debtors 6 195,965 177,458
Cash at bank 180,262 199,472
387,227 389,930
CREDITORS
Amounts falling due within one year 7 (214,931 ) (294,855 )
NET CURRENT ASSETS 172,296 95,075
TOTAL ASSETS LESS CURRENT
LIABILITIES

378,895

332,657

PROVISIONS FOR LIABILITIES (5,050 ) (5,666 )
NET ASSETS 373,845 326,991

CAPITAL AND RESERVES
Called up share capital 500 500
Retained earnings 373,345 326,491
SHAREHOLDERS' FUNDS 373,845 326,991

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.

Source Aluminium Systems Limited (Registered number: 09151184)

Balance Sheet - continued
31 March 2018


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 10 December 2018 and were signed on its behalf
by:




Mrs J E Cockle - Director G Darlington - Director




M A Gribble - Director S A Gribble - Director


Source Aluminium Systems Limited (Registered number: 09151184)

Notes to the Financial Statements
for the Year Ended 31 March 2018


1. STATUTORY INFORMATION

Source Aluminium Systems 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of eleven years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost
less any accumulated amortisation and any accumulated impairment losses.

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 reducing balance and 20% on reducing balance

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.

Source Aluminium Systems Limited (Registered number: 09151184)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2018


2. ACCOUNTING POLICIES - continued

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2017 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2017
and 31 March 2018 279,000
AMORTISATION
At 1 April 2017 69,750
Charge for year 27,900
At 31 March 2018 97,650
NET BOOK VALUE
At 31 March 2018 181,350
At 31 March 2017 209,250

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2017 56,233
Additions 4,950
At 31 March 2018 61,183
DEPRECIATION
At 1 April 2017 27,901
Charge for year 8,033
At 31 March 2018 35,934
NET BOOK VALUE
At 31 March 2018 25,249
At 31 March 2017 28,332

Source Aluminium Systems Limited (Registered number: 09151184)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2018


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.18 31.3.17
£    £   
Trade debtors 188,733 152,756
Amounts recoverable on contract 7,232 22,373
Other debtors - 2,329
195,965 177,458

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.18 31.3.17
£    £   
Trade creditors 36,499 38,688
Taxation and social security 81,846 73,084
Other creditors 96,586 183,083
214,931 294,855

8. ULTIMATE CONTROLLING PARTY

The company in under the control of it's directors.