Company Registration No. 06466115 (England and Wales)
A1 Ace Transport Services Ltd.
Unaudited accounts
for the year ended 30 April 2017
A1 Ace Transport Services Ltd.
Unaudited accounts
Contents
A1 Ace Transport Services Ltd.
Company Information
for the year ended 30 April 2017
Directors
Mr M E Davis
Mr ME Woodford
Company Number
06466115 (England and Wales)
Registered Office
Watcombe House
Railway Street
Taunton
Somerset
TA2 6HF
Accountants
Flourish, Chartered Accountants
15 Queen's Drive
Taunton
Somerset
TA1 4XW
A1 Ace Transport Services Ltd.
Statement of financial position
as at
30 April 2017
Tangible assets
374,659
359,578
Cash at bank and in hand
14,711
27,004
Creditors: amounts falling due within one year
(434,025)
(493,801)
Net current liabilities
(185,083)
(201,715)
Total assets less current liabilities
189,578
157,865
Creditors: amounts falling due after more than one year
(70,232)
(47,848)
Provisions for liabilities
Net assets
113,876
110,017
Called up share capital
350
350
Profit and loss account
113,526
109,667
Shareholders' funds
113,876
110,017
For the year ending 30 April 2017 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 and delivered 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. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 20 December 2017.
Mr M E Davis
Director
Company Registration No. 06466115
A1 Ace Transport Services Ltd.
Notes to the Accounts
for the year ended 30 April 2017
A1 Ace Transport Services Ltd. is a private company, limited by shares, registered in England and Wales, registration number 06466115. The registered office 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 2017 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 the notes 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
20% on a reducing balance basis
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 2017
4
Intangible fixed assets
Other
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 May 2016
132,830
763,354
896,184
Additions
1,915
225,977
227,892
Disposals
-
(238,346)
(238,346)
At 30 April 2017
134,745
750,985
885,730
At 1 May 2016
100,797
435,809
536,606
Charge for the year
15,897
167,025
182,922
On disposals
-
(208,457)
(208,457)
At 30 April 2017
116,694
394,377
511,071
At 30 April 2017
18,051
356,608
374,659
At 30 April 2016
32,033
327,545
359,578
Trade debtors
65,876
90,619
Deferred tax asset
-
15,517
Accrued income and prepayments
-
4,133
Other debtors
168,355
154,813
A1 Ace Transport Services Ltd.
Notes to the Accounts
for the year ended 30 April 2017
7
Creditors: amounts falling due within one year
2017
2016
Obligations under finance leases and hire purchase contracts
101,402
55,003
Trade creditors
27,464
43,942
Taxes and social security
53,310
87,686
Other creditors
251,849
307,170
8
Creditors: amounts falling due after more than one year
2017
2016
Obligations under finance leases and hire purchase contracts
70,232
41,665
9
Transactions with related parties
Mr M E Davis, a director of the company, has continued to advance loans to the company. Interest is charged at a commercial rate on these loans. At the year end the balance on these loans (included in other creditors due within one year) was £186,471 (2016 - £126.338)
10
Average number of employees
During the year the average number of employees was 20 (2016: 20).