Company Registration No. 03507036 (England and Wales)
A OLORENSHAW LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2015
A OLORENSHAW LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 5
A OLORENSHAW LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2015
31 March 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Intangible assets
2
7,500
7,500
Tangible assets
2
190,384
177,339
Flock account
2
63,343
62,623
261,227
247,462
Current assets
Stocks
118,340
69,360
Debtors
27,209
6,756
Investments
6,030
6,030
151,579
82,146
Creditors: amounts falling due within one year
3
(243,800)
(190,832)
Net current liabilities
(92,221)
(108,686)
Total assets less current liabilities
169,006
138,776
Provisions for liabilities
(16,157)
-
152,849
138,776
Capital and reserves
Called up share capital
4
113,500
113,500
Profit and loss account
39,349
25,276
Shareholders' funds
152,849
138,776
A OLORENSHAW LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2015
31 March 2015
- 2 -
For the financial year ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their 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 12 November 2015
Mrs P F Dimbleby
Director
Company Registration No. 03507036
A OLORENSHAW LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
- 3 -
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 April 2008).
The company has taken advantage of the exemption in Financial Reporting Standard No 1 from the requirement to produce a cash flow statement on the grounds that it is a small company.
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.3
SPS Entitlements
Other intangible fixed assets are stated at cost.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Freehold
Nil and 2%-3% straight line
Plant and machinery
20% reducing balance
Motor vehicles
25% reducing balance
1.5
Investments
Current asset investments are stated at the lower of cost and net realisable value.
A OLORENSHAW LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2015
- 4 -
2
Fixed assets
Intangible assets
Tangible assets
Flock
Total
£
£
£
£
Cost
At 1 April 2014
7,500
310,407
62,623
380,530
Additions
-
45,771
720
46,491
Disposals
-
(8,617)
-
(8,617)
At 31 March 2015
7,500
347,561
63,343
418,404
Depreciation
At 1 April 2014
-
133,067
-
133,067
On disposals
-
(4,527)
-
(4,527)
Charge for the year
-
28,637
-
28,637
At 31 March 2015
-
157,177
-
157,177
Net book value
At 31 March 2015
7,500
190,384
63,343
261,227
At 31 March 2014
7,500
177,339
62,623
247,462
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £95,063 (2014 - £57,385).
4
Share capital
2015
2014
£
£
Allotted, called up and fully paid
113,500 Ordinary shares of £1 each
113,500
113,500
A OLORENSHAW LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2015
- 5 -
5
Transactions with directors
The following directors gave interest free loans during the year. The movement on these loans are as follows:
Amount outstanding
Maximum
2015
2014
in year
£
£
£
P F and A N Dimbleby
138,823
124,592
138,823
The directors have given a personal guarantee to secure the bank overdraft in the sum of £150,000.