Associated Technology Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02967781 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH SEPTEMBER 2019

FOR

ASSOCIATED TECHNOLOGY SERVICES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

B K Baker

Mrs D M Baker

M J Baker

Mrs C E Donachie-Baker

REGISTERED OFFICE:

Unit 4 Westfield Court, Barns Ground

Clevedon

North Somerset

BS21 6FQ

REGISTERED NUMBER:

02967781 (England and Wales)

ACCOUNTANTS:

Aspen Waite Limited

Chartered Accountants

Rubis House

15 Friarn Street

Bridgwater

Somerset

TA6 3LH

FIXED ASSETS

Tangible assets

4

156,733

163,071

Investments

5

165

165

156,898

163,236

CURRENT ASSETS

Stocks

252,762

167,250

Debtors

6

2,868,552

2,036,449

Cash at bank and in hand

82,095

263

3,203,409

2,203,962

CREDITORS

Amounts falling due within one year

7

(2,520,423

)

(1,833,993

)

NET CURRENT ASSETS

682,986

369,969

TOTAL ASSETS LESS CURRENT LIABILITIES

839,884

533,205

CREDITORS

Amounts falling due after more than one year

8

(271,477

)

(67,750

)

PROVISIONS FOR LIABILITIES

10

(25,855

)

(10,511

)

NET ASSETS

542,552

454,944

CAPITAL AND RESERVES

Called up share capital

11

16

16

Retained earnings

12

542,536

454,928

SHAREHOLDERS' FUNDS

542,552

454,944

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2019 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors on 22nd January 2020 and were signed on its behalf by:

M J Baker - Director

1.	STATUTORY INFORMATION

Associated Technology Services 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.

Tangible fixed assets

Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual

value, of each asset evenly over its expected useful life, as follows:

Plant and machinery

- 25% reducing balance

Short leasehold improvements

- 10% reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

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 items.

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 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 25 (2018 - 23 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

property

machinery

Totals

£

£

£

COST

At 1st October 2018

166,427

68,784

235,211

Additions

-

14,241

14,241

At 30th September 2019

166,427

83,025

249,452

DEPRECIATION

At 1st October 2018

16,643

55,497

72,140

Charge for year

15,573

5,006

20,579

At 30th September 2019

32,216

60,503

92,719

NET BOOK VALUE

At 30th September 2019

134,211

22,522

156,733

At 30th September 2018

149,784

13,287

163,071

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertaking

£

COST

At 1st October 2018

and 30th September 2019

165

NET BOOK VALUE

At 30th September 2019

165

At 30th September 2018

165

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/9/19

30/9/18

£

£

Trade debtors

2,636,395

1,783,575

Amounts owed by group undertakings

-

88

Amounts recoverable on contract

88,262

22,812

Other debtors

2,050

2,550

Directors' loan accounts

30,937

33,151

Tax

80,000

144,029

Prepayments

30,908

50,244

2,868,552

2,036,449

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/9/19

30/9/18

£

£

Bank loans and overdrafts

101,947

115,044

Trade creditors

2,115,230

1,473,470

Amounts owed to group undertakings

-

100

Social security and other taxes

42,396

31,599

VAT

43,068

59,026

Other creditors

88,307

91,470

Directors' loan accounts

6,985

4,771

Accrued expenses

122,490

58,513

2,520,423

1,833,993

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30/9/19

30/9/18

£

£

Bank loans due 1-2 years

101,947

31,269

Bank loans due 2-5 years

169,530

36,481

271,477

67,750

9.	SECURED DEBTS

The following secured debts are included within creditors:

30/9/19

30/9/18

£

£

Bank overdraft

-

83,775

Bank loans

373,424

99,019

373,424

182,794

Fixed and floating charge over the property of the company.

10.	PROVISIONS FOR LIABILITIES

30/9/19

30/9/18

£

£

Deferred tax

Deffered tax

25,855

10,511

Deferred

tax

£

Balance at 1st October 2018

10,511

Provided during year

15,344

Balance at 30th September 2019

25,855

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30/9/19

30/9/18

value:

£

£

16

Ordinary

1

16

16

12.

RESERVES

Retained

earnings

£

At 1st October 2018

454,928

Profit for the year

187,608

Dividends

(100,000

)

At 30th September 2019

542,536

13.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30th September 2019 and

30th September 2018:

30/9/19

30/9/18

£

£

B K Baker

Balance outstanding at start of year

1,734

(4,091

)

Amounts advanced

24,064

10,825

Amounts repaid

(25,500

)

(5,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

298

1,734

M J Baker

Balance outstanding at start of year

31,416

33,120

Amounts advanced

23,722

53,100

Amounts repaid

(24,500

)

(54,804

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

30,638

31,416

The Company provided loans to Directors interest free. The loan is repayable on demand.