A_J_REMOVALS_(WORCESTER)_ - Accounts


Company Registration No. 08607181 (England and Wales)
A J REMOVALS (WORCESTER) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2017
PAGES FOR FILING WITH REGISTRAR
A J REMOVALS (WORCESTER) LIMITED
COMPANY INFORMATION
Director
Mr J D Williams
Company number
08607181
Registered office
216 Newtown Road
Worcester
Worcestershire
WR5 1JF
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Royal Bank of Scotland
Worcester Branch
5-9 St Nicholas Street
Worcester
Worcestershire
WR1 1UR
A J REMOVALS (WORCESTER) LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
A J REMOVALS (WORCESTER) LIMITED
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF A J REMOVALS (WORCESTER) LIMITED FOR THE YEAR ENDED 31 OCTOBER 2017
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of A J Removals (Worcester) Limited for the year ended 31 October 2017 which comprise, the Balance Sheet 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 at http://www.icaew.com/en/members/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of A J Removals (Worcester) Limited, 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 A J Removals (Worcester) Limited and state those matters that we have agreed to state to the Board of Directors of A J Removals (Worcester) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than A J Removals (Worcester) Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that A J Removals (Worcester) Limited 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 A J Removals (Worcester) Limited. You consider that A J Removals (Worcester) Limited 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 A J Removals (Worcester) Limited. 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.

Ormerod Rutter Limited
5 June 2018
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
A J REMOVALS (WORCESTER) LIMITED
BALANCE SHEET
AS AT 31 OCTOBER 2017
31 October 2017
- 2 -
2017
2016
Notes
£
£
£
£
Fixed assets
Tangible assets
3
8,547
11,632
Current assets
Debtors
4
20,343
5,330
Cash at bank and in hand
5,246
1,668
25,589
6,998
Creditors: amounts falling due within one year
5
(26,206)
(9,243)
Net current liabilities
(617)
(2,245)
Total assets less current liabilities
7,930
9,387
Creditors: amounts falling due after more than one year
6
(5,997)
(9,126)
Provisions for liabilities
(1,624)
-
Net assets
309
261
Capital and reserves
Called up share capital
9
100
100
Profit and loss reserves
209
161
Total equity
309
261

The director of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 October 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.

A J REMOVALS (WORCESTER) LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2017
31 October 2017
- 3 -
The financial statements were approved and signed by the director and authorised for issue on 5 June 2018
Mr J D Williams
Director
Company Registration No. 08607181
A J REMOVALS (WORCESTER) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2017
- 4 -
1
Accounting policies
Company information

A J Removals (Worcester) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 216 Newtown Road, Worcester, Worcestershire, WR5 1JF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

These financial statements for the year ended 31 October 2017 are the first financial statements of A J Removals (Worcester) Limited prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 November 2015. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% on reducing balance
Computer equipment
33% on cost
Motor vehicles
25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

A J REMOVALS (WORCESTER) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2017
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.5
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.6
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the profit and loss account so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 2 (2016 - 1).

A J REMOVALS (WORCESTER) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2017
- 6 -
3
Tangible fixed assets
Fixtures and fittings
Computer equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 November 2016 and 31 October 2017
224
722
15,014
15,960
Depreciation and impairment
At 1 November 2016
98
476
3,754
4,328
Depreciation charged in the year
32
238
2,815
3,085
At 31 October 2017
130
714
6,569
7,413
Carrying amount
At 31 October 2017
94
8
8,445
8,547
At 31 October 2016
126
246
11,260
11,632

The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.

2017
2016
£
£
Motor vehicles
8,445
11,260
4
Debtors
2017
2016
Amounts falling due within one year:
£
£
Amounts due from group undertakings
20,343
5,330
5
Creditors: amounts falling due within one year
2017
2016
£
£
Trade creditors
17,905
4,200
Corporation tax
3,633
-
Other taxation and social security
340
-
Other creditors
4,328
5,043
26,206
9,243
A J REMOVALS (WORCESTER) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2017
- 7 -
6
Creditors: amounts falling due after more than one year
2017
2016
£
£
Other creditors
5,997
9,126
7
Secured debts
The following secured debts are included within creditors:
2017
2016
£
£
Hire purchase contracts
9,126
12,255

Hire purchase contracts are secured against the assets to which they relate.

8
Provisions for liabilities
2017
2016
£
£
Deferred tax liabilities
1,624
-
1,624
-
9
Called up share capital
2017
2016
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary A of £1 each
100
100
10
Related party transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

11
Control

Ultimate parent company

The ultimate parent company is JDW (Holdings) Limited, a company registered in England and Wales.

 

Ultimate controlling party

The ultimate controlling party is Mr J D Williams and Mrs A S Williams by virtue of their controlling interest in the ultimate parent company.

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