ADS Joinery Design Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 07292523 (England and Wales)

ADS JOINERY DESIGN LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2017

Page

Company Information

1

Accountants' Report

2

Abridged Statement of Financial Position

3

to

4

Notes to the Financial Statements

5

to

8

DIRECTORS:

I D Ambrose

L Anderson

M Rehinsi

A Knowles

S Stainton

M Anderson

D Altabas

REGISTERED OFFICE:

ADS Joinery Design

Shangri-La Farm

Todds Green

Stevenage

Hertfordshire

SG1 2JE

REGISTERED NUMBER:

07292523 (England and Wales)

ACCOUNTANTS:

Wags LLP t/a Wagstaffs

Richmond House

Walkern Road

Stevenage

Hertfordshire

SG1 3QP

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only

required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and

certain other primary statements and the Report of the Directors are not required to be filed with the

Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of ADS Joinery Design Ltd for the year ended 30th June 2017 which

comprise the Income Statement, Abridged Statement of Financial Position, and the related notes from the

company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of ADS Joinery Design Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of ADS Joinery Design Ltd and state those matters that we have agreed to state to the Board of Directors of ADS Joinery Design Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than ADS Joinery Design Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that ADS Joinery Design Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of ADS Joinery Design Ltd. You consider that ADS Joinery Design Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of ADS Joinery Design Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Wags LLP t/a Wagstaffs

Richmond House

Walkern Road

Stevenage

Hertfordshire

SG1 3QP

29th March 2018

FIXED ASSETS

Property, plant and equipment

5

114,653

97,005

CURRENT ASSETS

Debtors

1,697,874

2,499,286

Cash at bank and in hand

374,050

43,875

2,071,924

2,543,161

CREDITORS

Amounts falling due within one year

(1,084,811

)

(1,796,812

)

NET CURRENT ASSETS

987,113

746,349

TOTAL ASSETS LESS CURRENT LIABILITIES

1,101,766

843,354

CREDITORS

Amounts falling due after more than one year

(12,288

)

-

PROVISIONS FOR LIABILITIES

(21,784

)

-

NET ASSETS

1,067,694

843,354

CAPITAL AND RESERVES

Called up share capital

6

100

1

Retained earnings

1,067,594

843,353

SHAREHOLDERS' FUNDS

1,067,694

843,354

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2017 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.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 30th June 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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 28th March 2018 and were signed on its behalf by:

I D Ambrose - Director

M Anderson - Director

1.	STATUTORY INFORMATION

ADS Joinery Design Ltd 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.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

'The financial statements have been prepared on a going concern basis and under the historical cost

convention

Significant judgements and estimates

No significant judgements or estimates have had to be made by the directors in preparing these

financial statements.

Revenue

Revenue represents the total invoice value, excluding value added tax, trade discounts and all other

taxes of sales made during the year.

Revenue recognition

Revenue is recognised when goods have been delivered and services supplied to customers such

that risks and rewards of ownership have transferred to them.

Property, plant and equipment

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

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

15% on reducing balance

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in

non-convertible preference and non-puttable ordinary shares which are measured at fair value, with

changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and

thereafter at fair value with changes recognised in profit or loss.

Tax

Tax 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 tax 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 material 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.

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.

Contracts

Amounts recoverable on contracts, which are included in debtors, are stated at the net sales value of

the work done after provisions for contingencies and anticipated future losses on contracts, less

amounts received as progress payments on account.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 .

5.	PROPERTY, PLANT AND EQUIPMENT

Totals

£

Cost

At 1st July 2016

187,658

Additions

47,805

Disposals

(29,675

)

At 30th June 2017

205,788

Depreciation

At 1st July 2016

90,653

Charge for year

20,433

Eliminated on disposal

(19,951

)

At 30th June 2017

91,135

Net book value

At 30th June 2017

114,653

At 30th June 2016

97,005

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

1p

-

1

76

Ordinary A

£1

76

-

24

Ordinary C

£1

24

-

100

1

During the year the company passed a resolution to reclassify 100 ordinary £0.01 shares into an

ordinary £1 share. Furthermore the company issued 99 ordinary £1 shares during the year. The

company reclassified the 100 ordinary £1 shares into 76 ordinary A and 24 ordinary C £1 shares

during the year.

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date the directors owed the company £152,781. The maximum balance

outstanding in the year was £152,781. The balance has been repaid shortly after the year end.

8.	TRANSITION TO FINANCIAL REPORTING STANDARD 102

This is the first year that the company has presented its results in accordance with the provisions of

Section 1A “Small Entities” of Financial Reporting Standard 102. The last financial statements under

the provisions of UK GAAP were for the year ended 30 June 2016. The date of the transition to

Section 1A “Small Entities” of Financial Reporting Standard 102 was 1 July 2015. There has been no

effect on the financial statements arising from the transition from UK GAAP as previously reported

and Section 1A “Small Entities” of Financial Reporting Standard 102.