A D A Machining Services Limited - Accounts to registrar (filleted) - small 18.2
A D A Machining Services Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| A D A MACHINING SERVICES LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 28 FEBRUARY 2019 |
| A D A MACHINING SERVICES LIMITED (REGISTERED NUMBER: 04658913) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 28 FEBRUARY 2019 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| A D A MACHINING SERVICES LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 28 FEBRUARY 2019 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Clarke Nicklin House |
| Brooks Drive |
| Cheadle Royal Business Park |
| Cheadle |
| Cheshire |
| SK8 3TD |
| A D A MACHINING SERVICES LIMITED (REGISTERED NUMBER: 04658913) |
| BALANCE SHEET |
| 28 FEBRUARY 2019 |
| 2019 | 2018 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 7 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| A D A MACHINING SERVICES LIMITED (REGISTERED NUMBER: 04658913) |
| BALANCE SHEET - continued |
| 28 FEBRUARY 2019 |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved by the Board of Directors on on its behalf by: |
| A D A MACHINING SERVICES LIMITED (REGISTERED NUMBER: 04658913) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 28 FEBRUARY 2019 |
| 1. | STATUTORY INFORMATION |
| A D A Machining Services Limited is a |
| 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 |
| Going concern |
| The directors have a reasonable expectation that the company has adequate resources to continue in |
| operational existence for the foreseeable future. The directors have reached this conclusion giving |
| due consideration to the projected future performance of the company and any potential risk that |
| might impact the company's ability to meet its required solvency levels. For this reason, they |
| continue to adopt the going concern basis in preparing the financial statements. |
| Turnover |
| Turnover represents net invoiced sales of goods and work done, excluding value added tax. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| Stocks |
| Work in progress is valued at the lower of cost and net realisable value. |
| Cost is calculated using the first-in, first-out method and includes all purchase, transport, and |
| handling costs in bringing stocks to their present location and condition. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of |
| Income and Retained Earnings, 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. |
| A D A MACHINING SERVICES LIMITED (REGISTERED NUMBER: 04658913) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 28 FEBRUARY 2019 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and | Computer |
| machinery | fittings | equipment | Totals |
| £ | £ | £ | £ |
| COST OR VALUATION |
| At 1 March 2018 |
| Additions |
| At 28 February 2019 |
| DEPRECIATION |
| At 1 March 2018 |
| Charge for year |
| At 28 February 2019 |
| NET BOOK VALUE |
| At 28 February 2019 |
| At 28 February 2018 |
| Cost or valuation at 28 February 2019 is represented by: |
| Fixtures |
| Plant and | and | Computer |
| machinery | fittings | equipment | Totals |
| £ | £ | £ | £ |
| Valuation in 2018 | 500,000 | - | - | 500,000 |
| Cost | 338,903 | 2,287 | 8,295 | 349,485 |
| 838,903 | 2,287 | 8,295 | 849,485 |
| A D A MACHINING SERVICES LIMITED (REGISTERED NUMBER: 04658913) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 28 FEBRUARY 2019 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| If plant and machinery had not been revalued it would have been included at the following historical |
| cost: |
| 2019 | 2018 |
| £ | £ |
| Cost | 338,903 | 338,903 |
| Aggregate depreciation | 270,163 | 270,163 |
| Plant and machinery was valued on an open market basis on 1 March 2017 by the Directors . |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Trade debtors |
| Other debtors | 300 | - |
| Prepayments |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Trade creditors |
| Social security and other taxes |
| VAT | 55,423 | 44,981 |
| Other creditors |
| Directors' loan accounts | 518 | 518 |
| Accruals |
| Directors' loan accounts are interest free and repayable on demand. |
| 7. | PROVISIONS FOR LIABILITIES |
| 2019 | 2018 |
| £ | £ |
| Deferred tax | 6,078 | 9,307 |
| Deferred |
| tax |
| £ |
| Balance at 1 March 2018 |
| Credit to Income Statement during year | ( |
) |
| Balance at 28 February 2019 |
| A D A MACHINING SERVICES LIMITED (REGISTERED NUMBER: 04658913) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 28 FEBRUARY 2019 |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2019 | 2018 |
| value: | £ | £ |
| Ordinary | £1 | 300 | 300 |
| 9. | CONTROLLING PARTY |
| The company has no overall controlling party. |