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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31ST AUGUST 2017 |
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AAA LOGISTICS LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31ST AUGUST 2017 |
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FOR |
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AAA LOGISTICS LIMITED |
AAA LOGISTICS LIMITED (REGISTERED NUMBER: 05534604) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST AUGUST 2017 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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AAA LOGISTICS LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST AUGUST 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AAA LOGISTICS LIMITED (REGISTERED NUMBER: 05534604) |
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BALANCE SHEET |
31ST AUGUST 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
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Tangible assets | 6 |
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CURRENT ASSETS |
Stocks |
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Debtors | 7 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
9 |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 11 |
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Retained earnings | 12 |
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SHAREHOLDERS' FUNDS |
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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. |
AAA LOGISTICS LIMITED (REGISTERED NUMBER: 05534604) |
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BALANCE SHEET - continued |
31ST AUGUST 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
its behalf by: |
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Mrs CE Hart - Director | Mr K Wood - Director |
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Mr EM Wood - Director |
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AAA LOGISTICS LIMITED (REGISTERED NUMBER: 05534604) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST AUGUST 2017 |
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1. | STATUTORY INFORMATION |
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AAA Logistics Limited is a
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company's registered number and registered office address can be found on the Company |
Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | TRANSITION TO FRS102 |
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This is the first year in which the financial statements have been prepared under FRS102 section 1A, |
issue by the Financial Reporting Council. The financial statements for the year ended 31 August |
2016 were prepared under previous UK GAAP. The transition date is therefore 1 September 2015. |
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Adopting FRS102 has resulted in no changes in accounting policies. |
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3. | ACCOUNTING POLICIES |
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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 historic cost basis. |
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The financial statements have been prepared on a going concern basis not withstanding that at 31 |
August 2017 the company had net current liabilities of £981. The directors believe this basis to be |
appropriate and have agreed to provide funds as necessary to meet the day to day running costs of |
the business for the foreseeable future. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding |
discounts, rebates, value added tax and other sales taxes. |
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Goodwill |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are |
measured at cost less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Improvements to property | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Office equipment | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
AAA LOGISTICS LIMITED (REGISTERED NUMBER: 05534604) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST AUGUST 2017 |
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3. | ACCOUNTING POLICIES - continued |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
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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. |
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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. |
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Hire purchase and 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. |
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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. |
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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the |
period of the lease. |
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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. |
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Financial instruments |
The company is party to only basic financial instruments such as cash, trade debtors and creditors, |
and bank loans. Instruments such as trade debtors and creditors are initially recognised at their |
transaction cost and reviewed at the year end for impairment. Debt instruments not repayable on |
demand or due within one year, such as bank loans, are measured at amortised cost using the |
effective interest rate. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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AAA LOGISTICS LIMITED (REGISTERED NUMBER: 05534604) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST AUGUST 2017 |
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5. | INTANGIBLE FIXED ASSETS |
Goodwill |
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COST |
At 1st September 2016 |
and 31st August 2017 |
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AMORTISATION |
At 1st September 2016 |
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Amortisation for year |
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At 31st August 2017 |
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NET BOOK VALUE |
At 31st August 2017 |
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At 31st August 2016 |
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6. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
COST |
At 1st September 2016 |
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At 31st August 2017 |
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DEPRECIATION |
At 1st September 2016 |
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Charge for year |
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Eliminated on disposal |
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At 31st August 2017 |
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NET BOOK VALUE |
At 31st August 2017 |
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At 31st August 2016 |
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AAA LOGISTICS LIMITED (REGISTERED NUMBER: 05534604) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST AUGUST 2017 |
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6. | TANGIBLE FIXED ASSETS - continued |
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Motor | Office |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1st September 2016 |
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Additions |
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Disposals | ( |
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( |
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At 31st August 2017 |
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DEPRECIATION |
At 1st September 2016 |
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Charge for year |
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Eliminated on disposal | ( |
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( |
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At 31st August 2017 |
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NET BOOK VALUE |
At 31st August 2017 |
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At 31st August 2016 |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
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COST |
At 1st September 2016 |
and 31st August 2017 |
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DEPRECIATION |
At 1st September 2016 |
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Charge for year |
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At 31st August 2017 |
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NET BOOK VALUE |
At 31st August 2017 |
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At 31st August 2016 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Other debtors |
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AAA LOGISTICS LIMITED (REGISTERED NUMBER: 05534604) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST AUGUST 2017 |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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9. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2017 | 2016 |
£ | £ |
Bank loans |
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Hire purchase contracts |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more than 5 years |
by instalment | 2,156 | 15,094 |
2,156 | 15,094 |
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10. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2017 | 2016 |
£ | £ |
Bank overdrafts |
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Bank loans |
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Hire purchase contracts | 38,715 | 68,604 |
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Other creditors include an amount of £56,281 (2016: £23,875) which is secured by a fixed charge |
over trade debtors. |
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The hire purchase liabilities are secured against the assets to which they relate. |
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The bank overdraft is secured by personal guarantees by Mrs CE Hart and Mr KM Wood. |
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The bank loans are secured by a personal guarantee by Mr EM Wood. |
AAA LOGISTICS LIMITED (REGISTERED NUMBER: 05534604) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST AUGUST 2017 |
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11. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
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Ordinary | £1 | 1,000 | 1,000 |
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12. | RESERVES |
Retained |
earnings |
£ |
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At 1st September 2016 |
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Profit for the year |
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Dividends | ( |
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At 31st August 2017 |
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