Company Registration No. 01330551 (England and Wales)
AALMAR SURVEYS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019
PAGES FOR FILING WITH REGISTRAR
Sobell Rhodes LLP
Unit 501 Centennial Park
Centennial Avenue
Elstree
Borehamwood
WD6 3FG
AALMAR SURVEYS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
AALMAR SURVEYS LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2019
31 December 2019
- 1 -
2019
2018
Notes
£
£
£
£
Fixed assets
Tangible assets
3
92,437
96,987
Investments
638
638
93,075
97,625
Current assets
Debtors
5
286,937
228,436
Cash at bank and in hand
155,654
137,621
442,591
366,057
Creditors: amounts falling due within one year
6
(268,532)
(185,027)
Net current assets
174,059
181,030
Total assets less current liabilities
267,134
278,655
Provisions for liabilities
(16,577)
(16,311)
Net assets
250,557
262,344
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
250,457
262,244
Total equity
250,557
262,344
The directors 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 December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have 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.
AALMAR SURVEYS LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2019
31 December 2019
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 19 May 2020 and are signed on its behalf by:
C Bryer
Director
Company Registration No. 01330551
AALMAR SURVEYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019
- 3 -
1
Accounting policies
Company information
Aalmar Surveys Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
The Penthouse, 35 Soda Studios, 268 Kingsland Road, London, United Kingdom, E8 4BH.
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.
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements present information about the company as an individual undertaking and not about its
group. The company and its subsidiary undertakings comprise a small sized group as set out in section 383 of
the Companies Act 2016. The company has therefore taken advantage of the exemptions provided by Section
399 (2A) of the Companies Act 2006 not to prepare group accounts.
1.2
Turnover
Turnover from rendering of services is recognised by reference to stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for the work performed to date to the total estimated contracts costs. Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.
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:
Survey Equipment
20% Straight Line
Office Equipment
20% Straight Line
Motor vehicles
15% Straight line
Yatch
10 years of useful economic life
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
Fixed asset investments
Investments in subsidiaries are measured at cost less any accumulated impairment losses.
1.5
Impairment of fixed assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company
estimates the recoverable amount of the cash-generating unit to which the asset belongs.
AALMAR SURVEYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2019
1
Accounting policies
(Continued)
- 4 -
Basic financial assets
The company only enters into transactions that result in basic financial assets and basic financial liabilities.
Basic financial assets, which include trade and other debtors, amounts owed by group undertakings and cash and bank balances, are initially measured at transaction price less transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Taxation
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that
a change attributable to an item of income or expense recognised as other comprehensive income is also
recognised directly in other comprehensive income.
Current tax
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or
substantively enacted by the reporting date in the countries where the company operates and generates taxable
income.
Deferred tax
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the
financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.
1.7
Retirement benefits
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If
contribution payments exceed the contribution due for service, the excess is recognised as
prepayment.
1.8
Foreign currency transactions and balances
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the
transaction. At the end of each reporting period foreign currency monetary items are translated at the closing
rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the
date of the transaction. All differences are charged to the profit or loss
AALMAR SURVEYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2019
- 5 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 10 (2018 - 9).
3
Tangible fixed assets
Plant and machinery etc
Yatch
Total
£
£
£
Cost
At 1 January 2019
46,178
74,250
120,428
Additions
8,045
-
8,045
At 31 December 2019
54,223
74,250
128,473
Depreciation and impairment
At 1 January 2019
12,303
11,138
23,441
Depreciation charged in the year
8,882
3,713
12,595
At 31 December 2019
21,185
14,851
36,036
Carrying amount
At 31 December 2019
33,038
59,399
92,437
At 31 December 2018
33,875
63,112
96,987
AALMAR SURVEYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2019
- 6 -
4
Subsidiaries
Details of the investments (including principal place of business of unincorporated entities) in which the
company holds 20% or more of the nominal value of any class of share capital are as follows:
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Indirect
Aalmar Surveys Inc
America
Ordinary Shares
100.00
0
AALMAR SURVEYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2019
- 7 -
5
Debtors
2019
2018
Amounts falling due within one year:
£
£
Trade debtors
164,625
149,784
Corporation tax recoverable
284
12,469
Amounts owed by group undertakings
37,897
40,255
Other debtors
84,131
25,928
286,937
228,436
6
Creditors: amounts falling due within one year
2019
2018
£
£
Trade creditors
178,916
90,059
Taxation and social security
37,145
33,903
Other creditors
52,471
61,065
268,532
185,027
7
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary Shares of £1 each
100
100