Company Registration No. 09521611 (England and Wales)
ARTHUR VOLBRECHT TRAFFIC SOLUTIONS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018
PAGES FOR FILING WITH REGISTRAR
ARTHUR VOLBRECHT TRAFFIC SOLUTIONS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
ARTHUR VOLBRECHT TRAFFIC SOLUTIONS LTD (REGISTERED NUMBER: 09521611)
BALANCE SHEET
AS AT
31 MARCH 2018
31 March 2018
- 1 -
2018
2017
Notes
£
£
£
£
Fixed assets
Tangible assets
3
5,171
6,765
Current assets
Debtors
4
24,551
25,139
Cash at bank and in hand
433
421
24,984
25,560
Creditors: amounts falling due within one year
5
(9,225)
(10,604)
Net current assets
15,759
14,956
Total assets less current liabilities
20,930
21,721
Creditors: amounts falling due after more than one year
6
(19,423)
(20,108)
Provisions for liabilities
(982)
(1,285)
Net assets
525
328
Capital and reserves
Called up share capital
7
10
10
Profit and loss reserves
515
318
Total equity
525
328
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his 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.
ARTHUR VOLBRECHT TRAFFIC SOLUTIONS LTD (REGISTERED NUMBER: 09521611)
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2018
31 March 2018
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 31 July 2018
Mr A Volbrecht
Director
ARTHUR VOLBRECHT TRAFFIC SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018
- 3 -
1
Accounting policies
Company information
Arthur Volbrecht Traffic Solutions Ltd is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
1 Alpha House, Laser Quay, Culpeper Close, Medway City Estate, Rochester, Kent, ME2 4HU.
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.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £
1
.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
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:
Fixtures, fittings & equipment
25% on reducing balance
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
Cash at bank and in hand
Cash at bank and in hand
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.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
ARTHUR VOLBRECHT TRAFFIC SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2018
1
Accounting policies
(Continued)
- 4 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the
company
has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.6
Leases
Rentals payable under operating leases,
including
any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 1 (2017 - 1
).
ARTHUR VOLBRECHT TRAFFIC SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2018
- 5 -
3
Tangible fixed assets
Fixtures, fittings & equipment
£
Cost
At 1 April 2017
10,026
Additions
130
At 31 March 2018
10,156
Depreciation and impairment
At 1 April 2017
3,261
Depreciation charged in the year
1,724
At 31 March 2018
4,985
Carrying amount
At 31 March 2018
5,171
At 31 March 2017
6,765
4
Debtors
2018
2017
Amounts falling due within one year:
£
£
Trade debtors
1,125
-
Other debtors
23,426
25,139
24,551
25,139
5
Creditors: amounts falling due within one year
2018
2017
£
£
Bank loans and overdrafts
2,162
3,639
Corporation tax
5,862
5,864
Other creditors
1,201
1,101
9,225
10,604
ARTHUR VOLBRECHT TRAFFIC SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2018
- 6 -
6
Creditors: amounts falling due after more than one year
2018
2017
£
£
Bank loans and overdrafts
19,423
20,108
7
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and fully paid
9 Ordinary of £1 each
9
9
1 Ordinary A of £1 each
1
1
10
10
8
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2018
2017
£
£
3,686
3,686
9
Controlling party
The ultimate controlling party is
A Volbrecht
by virtue of his majority shareholding.