Company Registration No. 03775750 (England and Wales)
ANCHOR FEATHERS LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
ANCHOR FEATHERS LIMITED
CONTENTS
Page
Accountants' report
1
Abbreviated balance sheet
2
Notes to the abbreviated accounts
3 - 4
ANCHOR FEATHERS LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ANCHOR FEATHERS LIMITED FOR THE YEAR ENDED 31 MARCH 2016
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Anchor Feathers Limited for the year ended 31 March 2016 set out on pages 2 to 4 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, we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.
This report is made solely to the Board of Directors of Anchor Feathers Limited, as a body, in accordance with the terms of our engagement letter dated 28 March 2017. Our work has been undertaken solely to prepare for your approval the financial statements of Anchor Feathers Limited and state those matters that we have agreed to state to the Board of Directors of Anchor Feathers Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Anchor Feathers Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Anchor Feathers Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Anchor Feathers Limited. You consider that Anchor Feathers 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 financial statements of Anchor Feathers 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 financial statements.
Moore and Smalley LLP
Chartered Accountants
Fylde House
Skyways Commercial Campus
Amy Johnson Way
Blackpool
FY4 3RS
29 March 2017
ANCHOR FEATHERS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 2 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
612
761
Current assets
Stocks
30,000
80,204
Debtors
-
4,146
Cash at bank and in hand
160,645
191,005
190,645
275,355
Creditors: amounts falling due within one year
(4,758)
(14,616)
Net current assets
185,887
260,739
Total assets less current liabilities
186,499
261,500
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
186,399
261,400
Shareholder's funds
186,499
261,500
For the financial year ended 31 March 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 member has 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 29 March 2017
Mr B G Evans
Director
Company Registration No. 03775750
ANCHOR FEATHERS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 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 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 amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets 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:
Plant and machinery
15% reducing balance
Fixtures, fittings & equipment
20% reducing balance
1.5
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
2
Fixed assets
Tangible assets
£
Cost
At 1 February 2015 & at 31 March 2016
4,013
Depreciation
At 1 February 2015
3,252
Charge for the year
149
At 31 March 2016
3,401
Net book value
At 31 March 2016
612
At 31 January 2015
761
ANCHOR FEATHERS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 4 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary of £1 each
100
100