Registered number |
|
|
|
|
All Right Now Limited | ||||
Report to the director on the preparation of the unaudited abbreviated accounts of All Right Now Limited for the year ended 30 April 2015 | ||||
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated financial statements of All Right Now Limited for the year ended 30 April 2015 which comprise of the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us. | ||||
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com/ |
||||
This report is made solely to the Board of Directors of All Right Now 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 financial statements of All Right Now Limited and state those matters that we have agreed to state to the Board of Directors of All Right Now Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than All Right Now Limited and its Board of Directors as a body for our work or for this report. | ||||
It is your duty to ensure that All Right Now 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 profit of All Right Now Limited. You consider that All Right Now 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 All Right Now 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 abbreviated accounts. | ||||
Clark Howes Accountants Limited | ||||
Certified Accountants | ||||
2 Minton Place | ||||
Victoria Road | ||||
Bicester | ||||
Oxfordshire | ||||
OX26 6QB | ||||
20 January 2016 | ||||
|
|||||||
Registered number: 03958513 | |||||||
Abbreviated Balance Sheet | |||||||
as at |
|||||||
Notes | 2015 | 2014 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Tangible assets | 2 |
|
|
||||
Current assets | |||||||
Stocks |
|
|
|||||
Debtors | 3 |
|
|
||||
Cash at bank and in hand |
|
|
|||||
|
|
||||||
Creditors: amounts falling due within one year | ( |
( |
|||||
Net current assets |
|
|
|||||
Total assets less current liabilities |
|
|
|||||
Creditors: amounts falling due after more than one year | ( |
- | |||||
Provisions for liabilities | ( |
( |
|||||
Net assets |
|
|
|||||
Capital and reserves | |||||||
Called up share capital | 5 |
|
|
||||
Profit and loss account |
|
|
|||||
Shareholder's funds |
|
|
|||||
|
|||||||
|
|||||||
|
|||||||
|
|||||||
Mr G Bruce | |||||||
Director | |||||||
Approved by the board on |
|||||||
|
||||||||
Notes to the Abbreviated Accounts | ||||||||
for the year ended |
||||||||
1 | Accounting policies | |||||||
Basis of preparation | ||||||||
The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). | ||||||||
Turnover | ||||||||
Turnover is recognised when the goods are physically delivered to the customer and when services are provided. |
||||||||
Depreciation | ||||||||
Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: | ||||||||
Plant, machinery and office equipment | 25% and 33% straight line | |||||||
Stocks | ||||||||
Stock is valued at the lower cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes any expenditure incurred in bringing the stock to its present location and condition. Where consignment stock is in substance an asset of the company, it is recognised as such on the balance sheet. | ||||||||
Deferred taxation | ||||||||
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the financial statements and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. | ||||||||
Foreign currencies | ||||||||
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account. | ||||||||
Leasing and hire purchase commitments | ||||||||
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Rentals paid under operating leases are charged to income on a straight line basis over the lease term. |
||||||||
Pensions | ||||||||
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme. | ||||||||
2 | Tangible fixed assets | £ | ||||||
Cost | ||||||||
At 1 May 2014 |
|
|||||||
Additions |
|
|||||||
Disposals | ( |
|||||||
At 30 April 2015 |
|
|||||||
Depreciation | ||||||||
At 1 May 2014 |
|
|||||||
Charge for the year |
|
|||||||
On disposals | ( |
|||||||
At 30 April 2015 |
|
|||||||
Net book value | ||||||||
At 30 April 2015 |
|
|||||||
At 30 April 2014 |
|
|||||||
3 | Debtors | 2015 | 2014 | |||||
£ | £ | |||||||
Debtors include: | ||||||||
Amounts due after more than one year |
|
|
||||||
4 | Loans | 2015 | 2014 | |||||
£ | £ | |||||||
Creditors include: | ||||||||
Secured bank loans & overdrafts |
|
|
||||||
5 | Share capital | Nominal | 2015 | 2015 | 2014 | |||
value | Number | £ | £ | |||||
Allotted, called up and fully paid: | ||||||||
|
£ |
|
|
|
||||
6 | Loans to directors | |||||||
B/fwd | Paid | Repaid | C/fwd | |||||
£ | £ | £ | £ | |||||
|
||||||||
|
|
|
( |
|
||||
|
|
( |
|
|||||
7 | Ultimate controlling party | |||||||
During the year the company was controlled by the director by virtue of his 100% shareholding. |