Registered Number
:
06652142
|
For the year ended 31 July 2018
England and Wales
Report of the Directors and Financial Statements
For the year ended 31 July 2018
A H LOCUMS LTD
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
A H LOCUMS LTD
Statement of Financial Position
2017
2018
58,192
Cash and cash equivalents
|
91,866
91,866
58,192
Trade and other payables
:
amounts falling due within one
|
year
|
(28,261)
(40,527)
2
29,931
51,339
Net current assets
Total assets less current liabilities
|
51,339
29,931
51,339
Net assets
29,931
2
2
51,337
29,929
51,339
29,931
Shareholders' funds
For the year ended 31 July 2018 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 of its financial statements for the year ended 31 July 2018 in accordance with Section 476 of the Companies Act 2006
|
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
|
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
.
|
In accordance with Section
444
of the Companies Act
2006
,
the Income Statement has not been delivered
.
|
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
|
These financial statements were approved and authorised for issue by the Board on 27 April 2019 and were signed by:
|
The notes form part of these financial statements
|
1 of 5
For the year ended 31 July 2018
A H LOCUMS LTD
Notes to the Financial Statements
Statutory Information
A H LOCUMS LTD is a private limited company
,
limited by shares
,
domiciled in England and Wales
,
registration
|
number
06652142
.
|
187 Anthony Road
Alum Rock
Birmingham
B8 3AL
The presentation currency is £ sterling
.
|
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section
1
A 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 historical costs convention as
|
modified by the revaluation of certain assets
.
|
The financial statements for the year ended
31
July
2017
are the first financial statements that comply with FRS
102
|
Section
1
A
"
Small Entities
."
The transition date is
1
August
2015
.
As a consequence of adopting FRS
102
Section
|
1
A
|
the directors do not consider the transitional adjustments to have had any material effect on the financial statements
|
and therefore no transitional adjustments have been made to equity or the profit and loss
.
|
Significant judgements and estimates
In the application of the company's accounting policies the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of revision and future periods if the revision effects both current and future periods. In preparing these financial statements, the directors have made the following judgements: The company reviews the carrying value of all assets for indications of impairment at each period. If indicators of impairment exist, the carrying value of the asset is subject to further testing to determine whether its carrying value exceeds it recoverable amount. This process will usually involve the the estimation of future cash flows which are likely to be generated by the asset. A provision is recognised when the company has a present legal or constructive obligation as a result of a past event for which it is probable that an outflow of resources will be required to settle the obligation and the amount can be reliably estimated. If the effect is material, provisions are determined by discounting the expected future cash flows at a rate that reflects the time value of money and the risk specific to the liability. Whether a present obligation is probable or not requires judgement. The nature and type of risks for these provisions differ and management's judgement is applied regarding the nature and extent of obligations in deciding if an outflow of resources is probable or not. The directors have reviewed the asset lives and associated residual values of all fixed assets classes. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projects disposal values.
|
2 of 5
For the year ended 31 July 2018
A H LOCUMS LTD
Notes to the Financial Statements Continued
Revenue recognition
Turnover comprises the invoiced value of services supplied by the company net of trade discounts.
Deferred tax
Current tax, including UK corporation tax, is provided at amounts expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profits and it results as stated in the financial statements that arise from inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements. Unrelieved tax losses and other deferred tax assets are only 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expended to apply to the reversal of the timing differences. Where items recognised in other comprehensive income and equity are chargeable to or deductible for tax purposes, the resulting current or deferred tax expense or income is presented in the same component of comprehensive income or equity as the transaction or other event that resulted in the tax expense or income.
|
3 of 5
For the year ended 31 July 2018
A H LOCUMS LTD
Notes to the Financial Statements Continued
Financial instruments
Financial assets and liabilities
|
All financial assets and liabilities are recognised when the company becomes party to the contractual provisions of
|
the instrument
.
|
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements
|
entered into
.
An equity instrument is any contract that evidences a residual interest in the assets of the company
|
after deducting all its liabilities
.
|
All financial assets and liabilities are initially measured at transaction price
(
including transaction costs
)
,
except for
|
those financial assets classified as at fair value through the profit and loss account
,
which are initially measured at
|
fair value unless the arrangement constitutes a financing transaction
.
If an arrangement constitutes a financing
|
transaction
,
the financial asset or liability is measured at the present value of the future payments discounted at a
|
market rate of interest for a similar debt instrument
.
|
Financial assets and liabilities are only offset at the balance sheet date when
,
and only when there exists a legally
|
enforceable right to set off the recognised amounts and the company intends either to settle on a net basis
,
or to
|
realise the asset and settle the liability simultaneously
.
|
Debt instruments that have no stated interest rate and are classified as payable or receivable within one year are
|
initially measured at an undiscounted amount of the cash or other consideration expected to be paid or received
,
net
|
of impairment
.
Other debt instruments not meeting these conditions are measured at fair value through the profit and
|
loss account
.
|
Commitments to make or receive loan which meet the conditions mentioned above are measured at cost less
|
impairment
.
|
Financial assets are derecognised when and only when the contractual rights to the cash flows for the financial asset
|
expire or are settled
,
when the company transfers to another party substantially all the risks and rewards of
|
ownership of the financial asset
,
or the company
,
despite having retained some
,
but not all
,
significant risks and
|
rewards of ownership
,
has transferred control of the asset to another party
.
|
Financial liabilities are derecognised only when the obligation specified in the contract is discharged
,
cancelled or
|
expires
.
|
Impairment of assets
Assets
,
other than those measured at fair value
,
are assessed for indicators of impairment at each balance sheet
|
date
.
If there is objective evidence of impairment
,
an impairment loss is recognised in profit or loss
.
|
For financial assets carried at amortised costs
,
the amount of an impairment is the difference between the asset
'
s
|
carrying amount and the present value of estimated future cash flows
,
discounted at the financial asset
'
s original
|
effective interest rate
.
|
For financial assets carried at cost less impairment
,
the impairment loss is the difference between the asset
'
s
|
carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the
|
reporting date
.
|
Where indicators exist for the decrease in impairment loss
,
and the decrease can be related objectively to an event
|
occuring after the impairment was recognised
,
the prior impairment loss is tested to determine reversal
.
An
|
impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value
|
does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised
.
|
4 of 5
For the year ended 31 July 2018
A H LOCUMS LTD
Notes to the Financial Statements Continued
2
.
Trade and other payables
:
amounts falling due within one year
|
2017
2018
Taxation and social security
|
5,022
2,495
35,505
25,766
40,527
28,261
3
.
Related party transactions
|
At the year end the company owed it's director Mr A Hussain £34,992 (2017: £25,240).
4
.
Average number of persons employed
|
During the year the average number of employees was 1 (2017 : 1)
5 of 5