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Registration number: 10801293

AAE Commercial Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 30 June 2022

 

AAE Commercial Limited

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Abridged Profit and Loss Account

4

Statement of Comprehensive Income

5

Abridged Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Abridged Financial Statements

8 to 12

 

AAE Commercial Limited

Company Information

Director

Mr Nicholas Myers

Company secretary

Miss Liv Pennington

Registered office

Harbourside
14 Wear Bay Road
Folkestone
Kent
CT19 6AT

Accountants

Hogarth Business Services Ltd
65 Victoria Road
Polegate
East Sussex
BN26 6BY

 

AAE Commercial Limited

Director's Report for the Year Ended 30 June 2022

The director presents his report and the abridged financial statements for the year ended 30 June 2022.

Director of the company

The director who held office during the year was as follows:

Mr Nicholas Myers

Principal activity

The principal activity of the company is Management of Construction Projects

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the director on 2 August 2022 and signed on its behalf by:

.........................................
Miss Liv Pennington
Company secretary

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
AAE Commercial Limited
for the Year Ended 30 June 2022

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of AAE Commercial Limited for the year ended 30 June 2022 as set out on pages 4 to 12 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
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of AAE Commercial Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of AAE Commercial Limited and state those matters that we have agreed to state to the Board of Directors of AAE Commercial Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than AAE Commercial Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that AAE Commercial Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of AAE Commercial Limited. You consider that AAE Commercial Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of AAE Commercial Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Hogarth Business Services Ltd
65 Victoria Road
Polegate
East Sussex
BN26 6BY

2 August 2022

 

AAE Commercial Limited

Abridged Profit and Loss Account for the Year Ended 30 June 2022

Note

2022
£

2021
£

Gross profit

 

47,203

130,144

Administrative expenses

 

(7,618)

(19,098)

Profit before tax

39,585

111,046

Tax on profit

 

(7,521)

(22,209)

Profit for the financial year

 

32,064

88,837

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

AAE Commercial Limited

Statement of Comprehensive Income for the Year Ended 30 June 2022

2022
£

2021
£

Profit for the year

32,064

88,837

Total comprehensive income for the year

32,064

88,837

 

AAE Commercial Limited

(Registration number: 10801293)
Abridged Balance Sheet as at 30 June 2022

Note

2022
£

2021
£

Current assets

 

Cash at bank and in hand

 

26,129

39,612

Creditors: Amounts falling due within one year

(23,248)

(36,900)

Total assets less current liabilities

 

2,881

2,712

Accruals and deferred income

 

(1,100)

(995)

Net assets

 

1,781

1,717

Capital and reserves

 

Called up share capital

4

2

2

Profit and loss account

1,779

1,715

Shareholders' funds

 

1,781

1,717

For the financial year ending 30 June 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 2 August 2022
 

.........................................

Mr Nicholas Myers

Director

 

AAE Commercial Limited

Statement of Changes in Equity for the Year Ended 30 June 2022

Share capital
£

Profit and loss account
£

Total
£

At 1 July 2021

2

1,715

1,717

Profit for the year

-

32,064

32,064

Total comprehensive income

-

32,064

32,064

Dividends

-

(32,000)

(32,000)

At 30 June 2022

2

1,779

1,781

Share capital
£

Profit and loss account
£

Total
£

At 1 July 2020

2

878

880

Profit for the year

-

88,837

88,837

Total comprehensive income

-

88,837

88,837

Dividends

-

(88,000)

(88,000)

At 30 June 2021

2

1,715

1,717

 

AAE Commercial Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2022

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Harbourside
14 Wear Bay Road
Folkestone
Kent
CT19 6AT
England

These financial statements were authorised for issue by the director on 2 August 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

AAE Commercial Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2022

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2021 - 2).

4

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

         

5

Dividends

   

2022

 

2021

   

£

 

£

         

6

Related party transactions

Directors' remuneration

The director's remuneration for the year was as follows:

 

AAE Commercial Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2022

2022
£

2021
£

Remuneration

-

8,000

7

Transition to FRS 102

Balance Sheet at 1 July 2020
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Capital and reserves

Total equity

-

-

-

-

 

AAE Commercial Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2022

Balance Sheet at 30 June 2021
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Capital and reserves

Total equity

-

-

-

-

 

AAE Commercial Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2022

Profit and Loss Account for the year ended 30 June 2021
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Turnover

-

-

-

-

Operating profit/(loss)

-

-

-

-

Profit/(loss) before tax

-

-

-

-

Profit/(loss) for the financial year

-

-

-

-