Company Registration No. 06466115 (England and Wales)
A1 Ace Transport Services Ltd
Annual report and unaudited accounts
for the year ended 30 April 2016
A1 Ace Transport Services Ltd
Annual report and unaudited accounts
Contents
A1 Ace Transport Services Ltd
Company Information
for the year ended 30 April 2016
Directors
Mr M E Davis
Mr ME Woodford
Mr A E Woodford
Company Number
06466115 (England and Wales)
Registered Office
Watcombe House
Railway Street
Taunton
Somerset
TA2 6HF
Accountants
Flourish
15 Queen's Drive
Taunton
Somerset
TA1 4XW
A1 Ace Transport Services Ltd
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of A1 Ace Transport Services Ltd for the year ended 30 April 2016
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
A1 Ace Transport Services Ltd for the year ended
30 April 2016 as set out on pages
5 -
9 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 icaew.com/membershandbook.
Our work has been undertaken in accordance with AAF 2/10 as detailed at icaew.com/compilation.
Flourish
Chartered Accountants
15 Queen's Drive
Taunton
Somerset
TA1 4XW
19 January 2017
A1 Ace Transport Services Ltd
Statement of financial position
as at
30 April 2016
Tangible assets
359,578
360,343
Cash at bank and in hand
27,004
69,678
Creditors: amounts falling due within one year
(493,801)
(371,338)
Net current liabilities
(201,715)
(170,605)
Total assets less current liabilities
157,865
189,740
Creditors: amounts falling due after more than one year
(47,848)
(126,521)
Net assets
110,017
63,219
Called up share capital
350
350
Profit and loss account
109,667
62,869
Shareholders' funds
110,017
63,219
For the year ending 30 April 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities.
Approved by the Board on 19 January 2017.
Mr M E Davis
Director
Company Registration No. 06466115
A1 Ace Transport Services Ltd
Statement of Changes in Equity
as at
30 April 2016
Share
capital
Profit
& loss
account
Total
At 1 May 2014
350
51,890
52,240
Profit for the year
103,970
103,970
Dividends
(92,991)
(92,991)
At 30 April 2015
350
62,869
63,219
At 1 May 2015
350
62,869
63,219
Profit for the year
139,789
139,789
Dividends
(92,991)
(92,991)
At 30 April 2016
350
109,667
110,017
A1 Ace Transport Services Ltd
Notes to the Accounts
for the year ended 30 April 2016
A1 Ace Transport Services Ltd is a private company, limited by shares, registered in England and Wales, registration number 06466115. The registered office and principal place of business is Watcombe House, Railway Street, Taunton, Somerset, TA2 6HF.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended
30 April 2016 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is
1 May 2015.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in note
10 below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
33% on cost and straight line over 7 years
Motor vehicles
Straight line over 4 years
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
A1 Ace Transport Services Ltd
Notes to the Accounts
for the year ended 30 April 2016
4
Intangible fixed assets
Other
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 May 2015
117,109
731,828
848,937
Additions
15,721
161,503
177,224
Disposals
-
(129,977)
(129,977)
At 30 April 2016
132,830
763,354
896,184
At 1 May 2015
73,578
415,016
488,594
Charge for the year
27,219
144,943
172,162
On disposals
-
(124,150)
(124,150)
At 30 April 2016
100,797
435,809
536,606
At 30 April 2016
32,033
327,545
359,578
At 30 April 2015
43,531
316,812
360,343
Trade debtors
90,619
53,397
Deferred tax asset
15,517
3,706
Accrued income and prepayments
4,133
3,468
Other debtors
154,813
70,484
A1 Ace Transport Services Ltd
Notes to the Accounts
for the year ended 30 April 2016
7
Creditors: amounts falling due within one year
2016
2015
Obligations under finance leases and hire purchase contracts
55,003
43,840
Trade creditors
43,942
11,751
Corporation tax
46,726
36,948
Other taxes and social security costs
40,960
21,054
Other creditors
307,170
95,394
Loans from directors
-
162,351
8
Creditors: amounts falling due after more than one year
2016
2015
Obligations under finance leases and hire purchase contracts
41,665
48,675
Other creditors
6,183
77,846
9
Average number of employees
During the year the average number of employees was 20 (2015: 19).
10
Reconciliations on adoption of FRS 102
The directors have reviewed the potential effect adopting FRS102 and consider that this will not be material to the comparative figures.