Authentic Design and Build Limited Filleted accounts for Companies House (small and micro)

AUTHENTIC DESIGN AND BUILD LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 07606824

Authentic Design and Build Limited

Filleted Unaudited Financial Statements

30 April 2019

Authentic Design and Build Limited

Statement of Financial Position

30 April 2019

	2019		2018
Note	£	£	£

Fixed assets

Tangible assets	4		–	11,663

Current assets

Stocks		22,601	222,601
Debtors	5	89,966	118,158
Cash at bank and in hand		29	790
		---------	---------
		112,596	341,549

Creditors: amounts falling due within one year	6	32,995		250,306
		---------		---------
Net current assets			79,601	91,243
			--------	---------
Total assets less current liabilities			79,601	102,906
			--------	---------

Capital and reserves

Called up share capital	2	2
Profit and loss account	79,599	102,904
	--------	---------
Shareholders funds	79,601	102,906
	--------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 April 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Authentic Design and Build Limited

Statement of Financial Position (continued)

30 April 2019

These financial statements were approved by the board of directors and authorised for issue on 27 January 2020 , and are signed on behalf of the board by:

Mr T Ashby
Director

Company registration number: 07606824

Authentic Design and Build Limited

Notes to the Financial Statements

Year ended 30 April 2019

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Brooks House, 1 Albion Place, Maidstone, Kent, ME14 5DY, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant & Machinery	-	25% straight line
Fixtures & Fittings	-	25% straight line
Equipment	-	25% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4. Tangible assets

	Plant and machinery	Fixtures and fittings	Equipment	Total
	£	£	£	£
Cost
At 1 May 2018	19,195	1,909	11,021	32,125
Disposals	( 19,195)	( 1,909)	( 11,021)	( 32,125)
	--------	-------	--------	--------
At 30 April 2019	–	–	–	–
	--------	-------	--------	--------
Depreciation
At 1 May 2018	7,532	1,909	11,021	20,462
Disposals	( 7,532)	( 1,909)	( 11,021)	( 20,462)
	--------	-------	--------	--------
At 30 April 2019	–	–	–	–
	--------	-------	--------	--------
Carrying amount
At 30 April 2019	–	–	–	–
	--------	-------	--------	--------
At 30 April 2018	11,663	–	–	11,663
	--------	-------	--------	--------

5. Debtors

	2019	2018
	£	£
Trade debtors	27,022	47,188
Other debtors	62,944	70,970
	--------	---------
	89,966	118,158
	--------	---------

6. Creditors: amounts falling due within one year

	2019	2018
	£	£
Trade creditors	28,207	28,207
Social security and other taxes	340	3,701
Other creditors	4,448	218,398
	--------	---------
	32,995	250,306
	--------	---------