Aikmo Trading Limited
Aikmo Trading Limited
Registered number: 04779531
Unaudited Financial Statements
For The Year Ended 31 March 2018
Aikmo Trading Limited
Unaudited Financial Statements
For The Year Ended 31 March 2018
Unaudited Financial Statements
Contents | |
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Balance Sheet | 1—2 |
Notes to the Financial Statements | 3—6 |
Aikmo Trading Limited
Balance Sheet
As at
31 March 2018
Balance Sheet
Registered number:
04779531
For the year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
2018 | 2017 | ||||
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Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Tangible Assets | 2 |
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CURRENT ASSETS | |||||
Stocks | 3 |
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Debtors | 4 |
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Cash at bank and in hand |
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Creditors: Amounts Falling Due Within One Year | 5 |
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NET CURRENT ASSETS (LIABILITIES) |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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Creditors: Amounts Falling Due After More Than One Year | 6 |
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PROVISIONS FOR LIABILITIES | |||||
Deferred Taxation | 8 |
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NET ASSETS |
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CAPITAL AND RESERVES | |||||
Called up share capital | 9 |
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Profit and Loss Account |
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SHAREHOLDERS' FUNDS | 112,870 | 19,958 | |||
Page 1
Aikmo Trading Limited
Balance Sheet (continued)
As at
31 March 2018
Directors' responsibilities:
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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The notes on pages 3 to 6 form part of these financial statements.
Page 2
Aikmo Trading Limited
Notes to the Financial Statements
For The Year Ended 31 March 2018
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery |
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Motor Vehicles |
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Fixtures & Fittings |
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Computer Equipment |
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1.4.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
1.5.
Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
Page 3
Aikmo Trading Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2018
2.
Tangible Assets
Plant & Machinery | Motor Vehicles | Fixtures & Fittings | Computer Equipment | Total | |
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£ | £ | £ | £ | £ | |
Cost | |||||
As at |
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As at |
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Depreciation | |||||
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Provided during the period |
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As at |
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Net Book Value | |||||
As at |
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As at |
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3.
Stocks
2018 | 2017 | ||
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£ | £ | ||
Stock |
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4.
Debtors
2018 | 2017 | ||
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£ | £ | ||
Due within one year | |||
Trade debtors |
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Prepayments and accrued income |
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Other debtors |
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Corporation tax recoverable assets |
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Directors' loan accounts | 97,316 | - | |
Amounts owed by other participating interests | 129 | 3,854 | |
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Page 4
Aikmo Trading Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2018
5.
Creditors: Amounts Falling Due Within One Year
2018 | 2017 | ||
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£ | £ | ||
Trade creditors |
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Bank loans and overdrafts |
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Corporation tax |
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Other taxes and social security |
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VAT |
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Net wages | 29,011 | 29,985 | |
Other creditors |
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Accruals and deferred income |
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Directors' loan accounts |
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Amounts owed to other participating interests | 4,232 | - | |
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6.
Creditors: Amounts Falling Due After More Than One Year
2018 | 2017 | ||
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£ | £ | ||
Bank loans |
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Amounts owed to related parties |
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7.
Secured Creditors
Of the creditors falling due within and after more than one year the following amounts are secured.
The loans are secured on the assets of the company, by a cross guarantee with Aikmo Medical Ltd and by a £100,000 personal guarantee from the director Dr K M O'Sullivan.
2018 | 2017 | ||
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£ | £ | ||
Bank loans and overdrafts | 14,366 | 78,697 |
Page 5
Aikmo Trading Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2018
8.
Deferred Taxation
The provision for deferred taxation is made up of accelerated capital allowances
2018 | 2017 | ||
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£ | £ | ||
Deferred tax |
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10.
Other Commitments
At the end of the period the company had annual commitments under non-cancellable operating leases as follows:
Land and buildings | Other | |||
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2018 | 2017 | 2018 | 2017 | |
£ | £ | £ | £ | |
Between 1 and 5 years | 17,500 | 17,500 | - | 17,500 |
After 5 years | 40,000 | 40,000 | - | 40,000 |
57,500 | 57,500 | - | 57,500 | |
11.
Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at |
Amounts advanced | Amounts repaid | Amounts written off | As at |
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£ | £ | £ | £ | £ | |
Mr Michael Stevenson |
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The above loan is unsecured, interest free and repayable on demand.
12.
Controlling Party
The company's controlling party is Aikmo Medical Ltd by virtue of their ownership of 75.3% of the issued share capital in the company.
13.
General Information
Aikmo Trading Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04779531 . The registered office is Harborough Innovation Centre, Wellington Way, Airfield Business Park, Market Harborough, Leicestershire, LE16 7WB.
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