A & A Trading Co Ltd
|
Registered number: |
04754819
|
Abbreviated Balance Sheet |
as at 31 May 2016
|
|
Notes |
|
|
2016 |
|
|
2015 |
£ |
£ |
Fixed assets |
Tangible assets |
2 |
|
|
1,335,000 |
|
|
1,335,000 |
|
Current assets |
Debtors |
|
|
285,304 |
|
|
52,632 |
Cash at bank and in hand |
|
|
2,143 |
|
|
1 |
|
|
|
287,447 |
|
|
52,633 |
|
Creditors: amounts falling due within one year |
|
|
(181,665) |
|
|
(388,438) |
|
Net current assets/(liabilities) |
|
|
|
105,782 |
|
|
(335,805) |
|
Total assets less current liabilities |
|
|
|
1,440,782 |
|
|
999,195 |
|
Creditors: amounts falling due after more than one year |
|
|
|
(736,375) |
|
|
(334,468) |
|
|
|
Net assets |
|
|
|
704,407 |
|
|
664,727 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
4 |
|
|
143,156 |
|
|
143,156 |
Revaluation reserve |
|
|
|
414,633 |
|
|
414,633 |
Profit and loss account |
|
|
|
146,618 |
|
|
106,938 |
|
Shareholder's funds |
|
|
|
704,407 |
|
|
664,727 |
|
|
|
|
|
|
|
|
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
|
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
|
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
|
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
|
|
|
|
|
P S Dhandwar |
Director |
Approved by the board on 27 February 2017
|
|
A & A Trading Co Ltd
|
Notes to the Abbreviated Accounts |
for the year ended 31 May 2016
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
|
|
|
Turnover |
|
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
|
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Land and buildings |
150 years
|
|
Fixtures, fittings and equipment |
20% reducing balance
|
|
|
Deferred taxation |
|
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts 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. |
|
|
Investment property |
|
The commercial warehouse owned by the company is regarded as an investment property and is included at its open market value. No depreciation is provided on this investment property. In accordance with the Financial Reporting Standard for Smaller Entities, investment properties are revalued annually and any surplus or deficit is transferred to revaluation reserve. No depreciation is provided in respect of investment properties. |
|
|
|
|
|
|
This treatment conflicts with the requirement of The Companies Act that all properties should be depreciated. However the director considers that, because this property is not held for consumption, but for their investment potential it is necessary to adopt the requirements of the FRSSE in order to give a true and fair view. |
|
|
|
|
|
2 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 June 2015 |
1,335,000 |
|
At 31 May 2016 |
1,335,000 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 31 May 2016 |
- |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 May 2016 |
1,335,000 |
|
At 31 May 2015 |
1,335,000 |
|
|
|
|
|
|
|
|
3 |
Loans |
2016 |
|
2015 |
£ |
£ |
|
Creditors include: |
|
Secured bank loans |
781,930 |
|
470,261 |
|
|
|
|
|
|
|
|
|
|
4 |
Share capital |
Nominal |
|
2016 |
|
2016 |
|
2015 |
value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
A Ordinary shares
|
£1 each |
|
100,000 |
|
100,000 |
|
100,000 |
|
B Ordinary shares |
£1 each |
|
300 |
|
300 |
|
300 |
|
C Ordinary shares
|
£1 each |
|
42,856 |
|
42,856 |
|
42,856 |
|
|
|
|
|
|
143,156 |
|
143,156 |
|
|
|
|
|
|
|
|
|
|
Class A shares have full dividend and voting rights whereas Class B and Class C shares are nonvoting shares. The dividend rights of Class B and Class C shares are to be determined from time to time by the Board of Directors. |