Automatic Alarms Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 01963431 (England and Wales)

AUTOMATIC ALARMS LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2016

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

H J Wilson

A M Wilson

REGISTERED OFFICE:

Unit 9, Kenyon Business Park

Pilkington Street

Bolton

Lancashire

BL3 6HL

REGISTERED NUMBER:

01963431 (England and Wales)

ACCOUNTANTS:

DTE Business Advisers Limited

Chartered Accountants

The Exchange

5 Bank Street

Bury

BL9 0DN

FIXED ASSETS

Property, plant and equipment

4

22,820

25,841

CURRENT ASSETS

Inventories

39,206

38,016

Debtors

5

790,111

831,857

Cash at bank and in hand

84,278

83,335

913,595

953,208

CREDITORS

Amounts falling due within one year

6

(299,359

)

(310,568

)

NET CURRENT ASSETS

614,236

642,640

TOTAL ASSETS LESS CURRENT LIABILITIES

637,056

668,481

PROVISIONS FOR LIABILITIES

(2,695

)

(2,953

)

NET ASSETS

634,361

665,528

CAPITAL AND RESERVES

Called up share capital

20,000

20,000

Retained earnings

614,361

645,528

634,361

665,528

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 31 August 2017 and were signed on its behalf by:

H J Wilson - Director

1.	STATUTORY INFORMATION

Automatic Alarms Limited is a private company, limited by shares, registered in England and Wales. The

registered office is Unit 9, Kenyon Business Park, Pilkington Street, Bolton, Lancashire, BL3 6HL.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company has transitioned to Financial Reporting Standard 102 Section 1A applicable to Small Entities and

the Companies Act 2006 from UK Generally Accepted Accounting Practice. The date of transition is 1 January

2015. There have not been any changes to the comparative figures as a result of the transition. The accounting

policies which follow set out those policies which apply in preparing the financial statements for the year ended

31 December 2016.

The directors have considered the business risks and believe that the company is well placed to manage these

risks successfully, thus the going concern basis of accounting has been adopted in preparing these financial

statements.

Revenue

Turnover comprises the aggregate of the fair value of the sales of goods and services provided, net of value

added tax and discounts. Revenue is recognised as follows:

Sale of goods

Sales of goods are recognised when the company has delivered products to the customer, the customer has

accepted the goods and collection of related receivables is anticipated.

Sale of services

Service revenues are recognised as those services are provided to customers.

Property, plant and equipment

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

Plant and machinery etc

-

25% on cost, 25% on reducing balance, 12.5% on cost and 10% on reducing balance

Inventories

Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Cost, representing latest purchase price, includes all direct expenditure and an appropriate proportion of fixed

and variable overheads.

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 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.

Leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

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.

Cash and cash equivalents

Cash and cash equivalents include cash in hand and deposits held at call with banks.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial

assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third

parties and loans to related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for

objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised

in the income statement.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost,

being the transaction price less any amounts settled.

Critical accounting estimates and judgements

In the application of the company's accounting policies, the directors are required to make estimates and

judgements. The estimates are based on historical experience and other relevant factors. Actual results may differ

from these estimates.

The estimates are continually evaluated. Revisions to accounting estimates are recognised in the period in which

the estimate is revised.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying

amount of assets and liabilities are outlined below.

Estimating the useful economic life of an asset and the anticipated residual value are considered key judgements

in calculating an appropriate depreciation policy.

Making judgement based on historical experience on the level of provision required for impairment of stock.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2015 - 29 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

Cost

At 1 January 2016

167,393

Additions

3,198

At 31 December 2016

170,591

Depreciation

At 1 January 2016

141,552

Charge for year

6,219

At 31 December 2016

147,771

Net book value

At 31 December 2016

22,820

At 31 December 2015

25,841

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

353,427

315,794

Amounts owed by group undertakings

400,036

500,004

Other debtors

36,648

16,059

790,111

831,857

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade creditors

72,361

50,461

Taxation and social security

107,076

115,336

Other creditors

119,922

144,771

299,359

310,568

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2016

2015

£

£

Within one year

23,146

11,566

Between one and five years

21,783

41,083

44,929

52,649