Aberswift De Leading Specialists Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04254476 (England and Wales)

ABERSWIFT DE LEADING SPECIALISTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2019

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

5

DIRECTOR:

K R Ruck

REGISTERED OFFICE:

5 Resolution Close

Endeavour Park

Boston

Lincolnshire

PE21 7TT

REGISTERED NUMBER:

04254476 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

5 Resolution Close

Endeavour Park

Boston

Lincolnshire

PE21 7TT

FIXED ASSETS

Tangible assets

4

15,457

16,529

CURRENT ASSETS

Debtors

5

49,820

23,561

Cash at bank and in hand

18,749

35,636

68,569

59,197

CREDITORS

Amounts falling due within one year

6

43,511

60,146

NET CURRENT ASSETS/(LIABILITIES)

25,058

(949

)

TOTAL ASSETS LESS CURRENT LIABILITIES

40,515

15,580

PROVISIONS FOR LIABILITIES

2,628

-

NET ASSETS

37,887

15,580

CAPITAL AND RESERVES

Called up share capital

7

2

2

Retained earnings

37,885

15,578

SHAREHOLDERS' FUNDS

37,887

15,580

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 applicable to companies subject to the small companies regime.

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 and authorised for issue by the director on 3 January 2020 and were signed by:

K R Ruck - Director

1.	STATUTORY INFORMATION

Aberswift De Leading Specialists 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.

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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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.

Revenue is recognised on the completion of an order and the raising of the sales invoice.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

10% on cost

Plant and machinery etc

-

25% on cost, 25% on reducing balance and 20% on reducing balance

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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 the income statement in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 August 2018

4,305

78,655

82,960

Additions

-

299

299

At 31 July 2019

4,305

78,954

83,259

DEPRECIATION

At 1 August 2018

4,305

62,126

66,431

Charge for year

-

1,371

1,371

At 31 July 2019

4,305

63,497

67,802

NET BOOK VALUE

At 31 July 2019

-

15,457

15,457

At 31 July 2018

-

16,529

16,529

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

34,800

16,848

Other debtors

15,020

6,713

49,820

23,561

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

4,501

13,375

Taxation and social security

21,353

6,645

Other creditors

17,657

40,126

43,511

60,146

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

2

Ordinary

£1

2

2