Company Registration No. 01197184 (England and Wales)
A E CHARMAN (PROPERTY MAINTENANCE) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2018
PAGES FOR FILING WITH REGISTRAR
A E CHARMAN (PROPERTY MAINTENANCE) LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
A E CHARMAN (PROPERTY MAINTENANCE) LIMITED
BALANCE SHEET
AS AT
28 FEBRUARY 2018
28 February 2018
- 1 -
2018
2017
Notes
£
£
£
£
Fixed assets
Tangible assets
3
10,817
14,320
Current assets
Stocks
1,000
1,000
Debtors
4
191,917
295,149
Cash at bank and in hand
74,261
56,644
267,178
352,793
Creditors: amounts falling due within one year
5
(124,428)
(118,478)
Net current assets
142,750
234,315
Total assets less current liabilities
153,567
248,635
Creditors: amounts falling due after more than one year
6
(416)
(3,040)
Provisions for liabilities
(600)
(1,000)
Net assets
152,551
244,595
Capital and reserves
Called up share capital
7
500
500
Capital redemption reserve
500
500
Profit and loss reserves
151,551
243,595
Total equity
152,551
244,595

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 28 February 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The 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.

The financial statements were approved by the board of directors and authorised for issue on 6 November 2018 and are signed on its behalf by:
Mr I Charman
Director
Company Registration No. 01197184
A E CHARMAN (PROPERTY MAINTENANCE) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 28 FEBRUARY 2018
- 2 -
Share capital
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 29 February 2016
500
500
273,383
274,383
Year ended 28 February 2017:
Profit and total comprehensive income for the year
-
-
10,212
10,212
Dividends
-
-
(40,000)
(40,000)
Balance at 28 February 2017
500
500
243,595
244,595
Year ended 28 February 2018:
Profit and total comprehensive income for the year
-
-
1,956
1,956
Dividends
-
-
(94,000)
(94,000)
Balance at 28 February 2018
500
500
151,551
152,551
A E CHARMAN (PROPERTY MAINTENANCE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2018
- 3 -
1
Accounting policies
Company information

A E Charman (Property Maintenance) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1A Cecil Avenue, Barking, Essex, IG11 9TA.

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 amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discount.

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:

Plant and machinery
20% reducing balance
Motor vehicles
25% 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
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

1.5
Stocks

Stocks are valued at the lower of cost and net realisable value.

1.6
Cash at bank and in hand

Cash and cash equivalents are represented by cash in hand and deposits held at call with banks.

A E CHARMAN (PROPERTY MAINTENANCE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2018
1
Accounting policies
(Continued)
- 4 -
1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

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.

 

A E CHARMAN (PROPERTY MAINTENANCE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2018
1
Accounting policies
(Continued)
- 5 -
1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.11
Retirement benefits
The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.
1.12
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 4 (2017 - 4).

3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2017 and 28 February 2018
48,360
Depreciation and impairment
At 1 March 2017
34,041
Depreciation charged in the year
3,502
At 28 February 2018
37,543
Carrying amount
At 28 February 2018
10,817
At 28 February 2017
14,320
A E CHARMAN (PROPERTY MAINTENANCE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2018
- 6 -
4
Debtors
2018
2017
Amounts falling due within one year:
£
£
Trade debtors
43,966
147,578
Other debtors
147,951
147,571
191,917
295,149
5
Creditors: amounts falling due within one year
2018
2017
£
£
Bank loans and overdrafts
2,624
2,624
Trade creditors
55,440
89,905
Corporation tax
888
3,169
Other taxation and social security
2,259
9,755
Other creditors
63,217
13,025
124,428
118,478

The bank loans and overdrafts are secured.

6
Creditors: amounts falling due after more than one year
2018
2017
£
£
Bank loans and overdrafts
416
3,040

The bank loans and overdrafts are secured.

7
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and fully paid
500 Ordinary shares of £1 each
500
500
500
500
8
Directors' transactions

Dividends totalling £94,000 (2017 - £40,000) were paid in the year in respect of shares held by the company's directors.

2018-02-282017-03-01falseCCH SoftwareCCH Accounts Production 2018.200No description of principal activity08 November 2018Mr C CharmanMr I Charman011971842017-03-012018-02-28011971842018-02-28011971842017-02-2801197184core:OtherPropertyPlantEquipment2018-02-2801197184core:OtherPropertyPlantEquipment2017-02-2801197184core:CurrentFinancialInstruments2018-02-2801197184core:CurrentFinancialInstruments2017-02-2801197184core:Non-currentFinancialInstruments2018-02-2801197184core:Non-currentFinancialInstruments2017-02-2801197184core:ShareCapital2018-02-2801197184core:ShareCapital2017-02-2801197184core:CapitalRedemptionReserve2018-02-2801197184core:CapitalRedemptionReserve2017-02-2801197184core:RetainedEarningsAccumulatedLosses2018-02-2801197184core:RetainedEarningsAccumulatedLosses2017-02-2801197184core:ShareCapitalOrdinaryShares2018-02-2801197184core:ShareCapitalOrdinaryShares2017-02-2801197184bus:Director22017-03-012018-02-28011971842016-02-292017-02-2801197184core:RetainedEarningsAccumulatedLosses2017-03-012018-02-2801197184core:RetainedEarningsAccumulatedLosses2016-02-292017-02-2801197184core:PlantMachinery2017-03-012018-02-2801197184core:MotorVehicles2017-03-012018-02-2801197184core:OtherPropertyPlantEquipment2017-02-2801197184core:OtherPropertyPlantEquipment2017-03-012018-02-2801197184bus:OrdinaryShareClass12017-03-012018-02-2801197184bus:OrdinaryShareClass12018-02-2801197184bus:PrivateLimitedCompanyLtd2017-03-012018-02-2801197184bus:FRS1022017-03-012018-02-2801197184bus:AuditExemptWithAccountantsReport2017-03-012018-02-2801197184bus:SmallCompaniesRegimeForAccounts2017-03-012018-02-2801197184bus:Director12017-03-012018-02-2801197184bus:FullAccounts2017-03-012018-02-28xbrli:purexbrli:sharesiso4217:GBP