Company Registration No. 05448586 (England and Wales)
ANCHOR INSERTS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2016
ANCHOR INSERTS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ANCHOR INSERTS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 AUGUST 2016
31 August 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
-
194,970
Current assets
Debtors
205,029
404,959
Cash at bank and in hand
100,653
297,761
305,682
702,720
Creditors: amounts falling due within one year
(185,458)
(39,215)
Net current assets
120,224
663,505
Total assets less current liabilities
120,224
858,475
Provisions for liabilities
-
(38,994)
120,224
819,481
Capital and reserves
Called up share capital
3
205
205
Profit and loss account
120,019
819,276
Shareholders' funds
120,224
819,481
For the financial period ended 31 August 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 financial statements for the period 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 22 November 2016
Mr E. V. Wade
Director
Company Registration No. 05448586
ANCHOR INSERTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 31 AUGUST 2016
- 2 -
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
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of ten years.
1.5
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
10% on reducing balance
Fixtures and fittings
20% on reducing balance
Computer equipment
33% on cost
1.6
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
ANCHOR INSERTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE PERIOD ENDED 31 AUGUST 2016
- 3 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 June 2015
34,000
231,556
265,556
Disposals
-
(231,556)
(231,556)
At 31 August 2016
34,000
-
34,000
Depreciation
At 1 June 2015
34,000
36,586
70,586
On disposals
-
(51,440)
(51,440)
Charge for the period
-
14,854
14,854
At 31 August 2016
34,000
-
34,000
Net book value
At 31 August 2016
-
-
-
At 31 May 2015
-
194,970
194,970
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
105 Ordinary of £1 each
105
105
100 A Ordinary of £1 each
100
100
205
205
4
Ultimate parent company
The company is controlled by Ernest Engineering Limited who owns 100% of the issued share capital.