Amroe Engineering Limited Company Accounts

AMROE ENGINEERING LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 08683142

AMROE ENGINEERING LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 December 2016

AMROE ENGINEERING LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2016

Contents	Pages

Balance sheet 1

Notes to the financial statements 2 to 4

AMROE ENGINEERING LIMITED

BALANCE SHEET

31 December 2016

	2016	2015
Note	£	£

Fixed assets

Tangible assets	5	162	792

Current assets

Debtors	6	23,818	11,993
Cash at bank and in hand		2,516	7,747
		------------	------------
		26,334	19,740

Creditors: amounts falling due within one year	7	25,787	20,150
		------------	------------
Net current assets/(liabilities)		547	( 410)
		------------	------------
Total assets less current liabilities		709	382

Provisions

Taxation including deferred tax	32	158
	------------	------------
Net assets	677	224
	------------	------------

Capital and reserves

Called up share capital	9	100	100
Profit and loss account		577	124
		------------	------------
Members funds		677	224
		------------	------------

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 profit and loss account has not been delivered.

For the year ending 31 December 2016 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 .

These financial statements were approved by the board of directors and authorised for issue on 7 July 2017 , and are signed on behalf of the board by:

B J Roebuck
Director

Company registration number: 08683142

AMROE ENGINEERING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2016

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 35 Westgate, Huddersfield, West Yorkshire, HD1 1PA, England.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, '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. The financial statements are prepared in sterling, which is the functional currency of the entity.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 January 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 12.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises the value of services provided net of value added tax.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

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

	Comptuter equipment	-	33% straight line

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2015: 2 ).

5. Tangible assets

	Computer Equipment	Total
	£	£
Cost
At 1 January 2016	2,377	2,377
Additions	234	234
	------------	------------
At 31 December 2016	2,611	2,611
	------------	------------
Depreciation
At 1 January 2016	1,585	1,585
Charge for the year	864	864
	------------	------------
At 31 December 2016	2,449	2,449
	------------	------------
Carrying amount
At 31 December 2016	162	162
	------------	------------
At 31 December 2015	792	792
	------------	------------

6. Debtors

	2016	2015
	£	£
Trade debtors	2,580	2,064
Prepayments and accrued income	–	939
Director's loan account (note 12)	16,006	8,990
Other debtors	5,232	–
	------------	------------
	23,818	11,993
	------------	------------

7. Creditors: amounts falling due within one year

	2016	2015
	£	£
Accruals and deferred income	1,100	1,100
Corporation tax	21,641	15,574
Social security and other taxes	3,046	3,476
	------------	------------
	25,787	20,150
	------------	------------

8. Deferred tax

The deferred tax included in the balance sheet is as follows:

	2016	2015
	£	£
Included in provisions	32	158
	------------	------------

9. Called up share capital

Issued, called up and fully paid

	2016		2015
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	------------	------------	------------	------------

10. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2016	2015
	£	£
Not later than 1 year	4,097	–
Later than 1 year and not later than 5 years	–	4,097
	------------	------------
	4,097	4,097
	------------	------------

11. Related party transactions

Control of the company The company is controlled by B J Roebuck . Transactions with the director The director's loan account of £16,006 included in debtors (2015: £8,990) is unsecured and repayable on demand. Interest is charged at HMRC's official rate of interest.

12. Transition to FRS 102

These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 January 2015.

No transitional adjustments were required in equity or profit or loss for the year.