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COMPANY REGISTRATION NUMBER
04992632
AVON EXTINGUISHERS LIMITED
UNAUDITED ABBREVIATED ACCOUNTS
31 March 2016
JAY & JAY PARTNERSHIP LIMITED
Chartered Certified Accountants
2 Chesterfield Buildings
Westbourne Place
Clifton
Bristol
BS8 1RU
AVON EXTINGUISHERS LIMITED
CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF
AVON EXTINGUISHERS LIMITED
YEAR ENDED 31 MARCH 2016
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of Avon Extinguishers Limited for the year ended 31 March 2016 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 www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
Our work has been undertaken in accordance with the requirements of Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
JAY & JAY PARTNERSHIP LIMITED
Chartered Certified Accountants
2 Chesterfield Buildings
Westbourne Place
Clifton
Bristol
BS8 1RU
8 December 2016
AVON EXTINGUISHERS LIMITED
ABBREVIATED BALANCE SHEET
31 March 2016
|
2016
|
2015
|
Note
|
£
|
£
|
FIXED ASSETS
|
2
|
|
|
Intangible assets
|
45,000
|
50,000
|
Tangible assets
|
35,100
|
17,894
|
|
---------
|
---------
|
|
80,100
|
67,894
|
|
---------
|
---------
|
|
|
|
|
CURRENT ASSETS
Stocks
|
30,188
|
25,659
|
Debtors
|
56,342
|
43,719
|
Cash at bank and in hand
|
56,424
|
64,895
|
|
-----------
|
-----------
|
|
142,954
|
134,273
|
CREDITORS: Amounts falling due within one year
|
43,489
|
45,341
|
|
-----------
|
-----------
|
NET CURRENT ASSETS
|
99,465
|
88,932
|
|
-----------
|
-----------
|
TOTAL ASSETS LESS CURRENT LIABILITIES
|
179,565
|
156,826
|
|
|
|
CREDITORS: Amounts falling due after more than one year
|
81,323
|
68,083
|
|
-----------
|
-----------
|
|
98,242
|
88,743
|
|
-----------
|
-----------
|
|
|
|
CAPITAL AND RESERVES
Called up equity share capital
|
3
|
104
|
104
|
Profit and loss account
|
98,138
|
88,639
|
|
---------
|
---------
|
SHAREHOLDERS' FUNDS
|
98,242
|
88,743
|
|
---------
|
---------
|
|
|
|
|
For the 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.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These abbreviated accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.
These abbreviated accounts were approved by the directors and authorised for issue on
8 December 2016
, and are signed on their behalf by:
Mr R.C. Pink
Company Registration Number:
04992632
AVON EXTINGUISHERS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
YEAR ENDED 31 MARCH 2016
1.
ACCOUNTING POLICIES
Basis of accounting
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Changes in accounting policies
In preparing the financial statements for the current year, the company has adopted the Financial Reporting Standard for Smaller Entities (effective January 2015).
The adoption of FRSSE 2015 in place of FRSSE 2008 has not resulted in any changes of accounting policy.
Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
Goodwill
Positive purchased goodwill arising on acquisitions is capitalised, classified as an asset on the Balance Sheet and amortised over its useful economic life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed five years. The carrying amount at the date of revision is depreciated over the revised estimate of remaining useful economic life.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Goodwill-5% straight line
Fixed assets
All fixed assets are initially recorded at cost.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant & Machinery-15% reducing balance
Fixtures & Fittings-15% reducing balance
Motor Vehicles-25% reducing balance
Equipment-25% reducing balance
The carrying values of tangible fixed assets are reviewed for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions:
Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold.
Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
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
|
Intangible Assets
|
Tangible Assets
|
Total
|
|
£
|
£
|
£
|
|
|
|
|
COST
At 1 April 2015
|
100,000
|
44,494
|
144,494
|
Additions
|
–
|
31,274
|
31,274
|
Disposals
|
–
|
(
7,995)
|
(
7,995)
|
|
-----------
|
---------
|
-----------
|
At 31 March 2016
|
100,000
|
67,773
|
167,773
|
|
-----------
|
---------
|
-----------
|
|
|
|
|
DEPRECIATION
At 1 April 2015
|
50,000
|
26,600
|
76,600
|
Charge for year
|
5,000
|
11,538
|
16,538
|
On disposals
|
–
|
(
5,465)
|
(
5,465)
|
|
---------
|
---------
|
---------
|
At 31 March 2016
|
55,000
|
32,673
|
87,673
|
|
---------
|
---------
|
---------
|
|
|
|
|
NET BOOK VALUE
At 31 March 2016
|
45,000
|
35,100
|
80,100
|
|
---------
|
---------
|
---------
|
|
|
|
|
At 31 March 2015
|
50,000
|
17,894
|
67,894
|
|
---------
|
---------
|
---------
|
|
|
|
|
3.
SHARE CAPITAL
Allotted, called up and fully paid:
|
2016
|
2015
|
|
No.
|
£
|
No.
|
£
|
|
Ordinary A shares of £ 1 each
|
101
|
101
|
101
|
101
|
|
Ordinary B shares of £ 1 each
|
1
|
1
|
1
|
1
|
|
Ordinary C shares of £ 1 each
|
1
|
1
|
1
|
1
|
|
Ordinary D shares of £ 1 each
|
1
|
1
|
1
|
1
|
|
|
-----
|
-----
|
-----
|
-----
|
|
|
104
|
104
|
104
|
104
|
|
|
-----
|
-----
|
-----
|
-----
|
|
|
|
|
|
|