AIB Project Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09184931 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st December 2020

for

AIB Project Services Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr P N Mellings

Miss A V Mellings

REGISTERED OFFICE:

14a Market Place

Uttoxeter

ST14 8HP

REGISTERED NUMBER:

09184931 (England and Wales)

ACCOUNTANTS:

Rice & Co Limited

Chartered Accountants

14a Market Place

Uttoxeter

Staffordshire

ST14 8HP

FIXED ASSETS

Tangible assets

4

410

626

CURRENT ASSETS

Debtors

5

25,637

52,082

Cash at bank

2,017

75,696

27,654

127,778

CREDITORS

Amounts falling due within one year

6

30,484

106,952

NET CURRENT (LIABILITIES)/ASSETS

(2,830

)

20,826

TOTAL ASSETS LESS CURRENT LIABILITIES

(2,420

)

21,452

PROVISIONS FOR LIABILITIES

78

119

NET (LIABILITIES)/ASSETS

(2,498

)

21,333

CAPITAL AND RESERVES

Called up share capital

50

50

Capital redemption reserve

50

50

Retained earnings

(2,598

)

21,233

SHAREHOLDERS' FUNDS

(2,498

)

21,333

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2020 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 by the Board of Directors and authorised for issue on 20th December 2021 and were signed on its behalf by:

Mr P N Mellings - Director

1.	STATUTORY INFORMATION

AIB Project 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 and value added tax. Turnover is recognised when services have been provided resulting in the company obtaining the right to consideration.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on cost

Government grants

Grants relating to revenue are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1st January 2020

and 31st December 2020

292

653

945

DEPRECIATION

At 1st January 2020

141

178

319

Charge for year

38

178

216

At 31st December 2020

179

356

535

NET BOOK VALUE

At 31st December 2020

113

297

410

At 31st December 2019

151

475

626

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

-

51,840

Other debtors

25,637

242

25,637

52,082

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

6,805

567

Taxation and social security

21,543

33,640

Other creditors

2,136

72,745

30,484

106,952

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st December 2020 and 31st December 2019:

2020

2019

£

£

Mr P N Mellings

Balance outstanding at start of year

-

-

Amounts advanced

29,385

-

Amounts repaid

(5,200

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

24,185

-

Interest of £207 has been paid to the company in respect of these advances and there are no fixed terms for repayment.

8.	RELATED PARTY DISCLOSURES

Included in turnover for the year ended 31st December 2020 is £21,003 (2019-£141,700) in respect of services provided to a company whose directors include the director of AIB Project Services Limited. Included in debtors due within one year is £nil (2019-£51,840) owing from this company.