Sussex Aluminium Systems Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10534598 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2018

FOR

SUSSEX ALUMINIUM SYSTEMS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

L R Claxton

S J Anscombe

REGISTERED OFFICE:

Pavilion View

19 New Road

Brighton

East Sussex

BN1 1EY

REGISTERED NUMBER:

10534598 (England and Wales)

ACCOUNTANTS:

Hartley Fowler LLP

Chartered Accountants

Pavilion View

19 New Road

Brighton

East Sussex

BN1 1EY

FIXED ASSETS

Tangible assets

4

2,893

-

CURRENT ASSETS

Stocks

41,190

-

Debtors

5

17,738

-

Cash at bank

21,053

1

79,981

1

CREDITORS

Amounts falling due within one year

6

77,783

-

NET CURRENT ASSETS

2,198

1

TOTAL ASSETS LESS CURRENT LIABILITIES

5,091

1

PROVISIONS FOR LIABILITIES

7

550

-

NET ASSETS

4,541

1

CAPITAL AND RESERVES

Called up share capital

8

100

1

Retained earnings

4,441

-

SHAREHOLDERS' FUNDS

4,541

1

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 4 January 2019 and were signed on its behalf by:

L R Claxton - Director

S J Anscombe - Director

1.	STATUTORY INFORMATION

Sussex Aluminium Systems 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.

Turnover

Revenue is measured at fair value of the consideration received or receivable. Revenue includes amounts

received from sale of goods.

Revenue from the sale of goods is recognised when goods are delivered and legal title has passed.

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

-

25% on reducing balance

Computer equipment

-

25% 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.

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 and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivables or payables within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the profit and loss account in other

administrative expenses.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each

balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash

generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its

recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued

amount where the impairment loss is a revaluation decrease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - NIL ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

Additions

2,460

520

2,980

At 31 May 2018

2,460

520

2,980

DEPRECIATION

Charge for year

87

-

87

At 31 May 2018

87

-

87

NET BOOK VALUE

At 31 May 2018

2,373

520

2,893

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

16,536

-

Amounts owed by connected companies

1,093

-

Other debtors

109

-

17,738

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

34,044

-

Taxation and social security

3,535

-

Other creditors

40,204

-

77,783

-

7.	PROVISIONS FOR LIABILITIES

2018

2017

£

£

Deferred tax

550

-

Deferred

tax

£

Provided during year

550

Balance at 31 May 2018

550

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

100

Ordinary

£1

100

1

99 Ordinary shares of £1 each were allotted and fully paid for cash at par during the year.

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 31 May 2018 and the period

ended 31 May 2017:

2018

2017

£

£

L R Claxton

Balance outstanding at start of year

-

-

Amounts repaid

(90

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(90

)

-

S J Anscombe

Balance outstanding at start of year

-

-

Amounts repaid

(10

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(10

)

-

The loans were advanced interest free and repayable on demand.