For the year ended 31 March 2016
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 03322839
AAC Accountants Ltd
For the year ended 31 March 2016
1
Balance Sheet
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Notes to the Abbreviated Financial Statements
Notes to the Abbreviated Financial Statements
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AAC Accountants Ltd
For the year ended 31 March 2016
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
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Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
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Proposed dividends are only included as liabilities in the financial statements when their payment has been approved
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by the shareholders prior to the balance sheet date
.
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Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
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Plant and Machinery
Fixtures and Fittings
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
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Current asset investments
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Current asset investments are stated at the lower of cost and net realisable value.
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Notes to the Abbreviated Financial Statements
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AAC Accountants Ltd
For the year ended 31 March 2016
9,341
9,341
6,514
706
Charge for year
7,220
2,121
2,827
Allotted called up and fully paid
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2016
2015
2
Class A shares of £
1
.
00
each
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2
2
2
2
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