Company Registration No. 02821877 (England and Wales)
AVIDGILT LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2016
AVIDGILT LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
AVIDGILT LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 JUNE 2016
30 June 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
762,664
873,127
Current assets
Debtors
6,146
56,146
Cash at bank and in hand
215,398
46,867
221,544
103,013
Creditors: amounts falling due within one year
(45,494)
(49,254)
Net current assets
176,050
53,759
Total assets less current liabilities
938,714
926,886
Creditors: amounts falling due after more than one year
3
(181,823)
(223,646)
756,891
703,240
Capital and reserves
Called up share capital
4
200,748
200,748
Profit and loss account
556,143
502,492
Shareholders' funds
756,891
703,240
For the financial year ended 30 June 2016 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 financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 14 December 2016
Mr B White
Director
Company Registration No. 02821877
AVIDGILT LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents rents receivable net of VAT and discounts.
1.4
Tangible fixed assets and depreciation
Plant and machinery
20% reducing balance
Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.
Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the director compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
2
Fixed assets
Tangible assets
£
Cost
At 1 July 2015
874,433
Disposals
(110,348)
At 30 June 2016
764,085
Depreciation
At 1 July 2015
1,306
Charge for the year
115
At 30 June 2016
1,421
Net book value
At 30 June 2016
762,664
At 30 June 2015
873,127
AVIDGILT LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2016
- 3 -
3
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £201,745 (2015 - £243,568).
4
Share capital
2016
2015
£
£
Allotted, called up and fully paid
200,748 Ordinary shares of £1 each
200,748
200,748