COMPANY REGISTRATION NUMBER
05491113
ANDREW'S APPLIANCE SERVICES LTD
UNAUDITED ABBREVIATED ACCOUNTS
31 March 2016
ANDREW'S APPLIANCE SERVICES LTD
ABBREVIATED BALANCE SHEET
31 March 2016
|
2016
|
2015
|
Note
|
£
|
£
|
£
|
FIXED ASSETS
|
2
|
|
|
|
Tangible assets
|
|
288
|
3,929
|
|
|
----
|
-------
|
|
|
|
|
|
CURRENT ASSETS
Stocks
|
495
|
|
503
|
Debtors
|
8,045
|
|
9,940
|
Cash at bank and in hand
|
580
|
|
2,029
|
|
-------
|
|
---------
|
|
9,120
|
|
12,472
|
CREDITORS: Amounts falling due within one year
|
9,189
|
|
15,464
|
|
-------
|
|
---------
|
NET CURRENT LIABILITIES
|
|
(
69)
|
(
2,992)
|
|
|
----
|
-------
|
TOTAL ASSETS LESS CURRENT LIABILITIES
|
|
219
|
937
|
|
|
|
|
PROVISIONS FOR LIABILITIES
|
|
57
|
786
|
|
|
----
|
----
|
|
|
162
|
151
|
|
|
----
|
----
|
|
|
|
|
CAPITAL AND RESERVES
Called up equity share capital
|
4
|
|
2
|
2
|
Profit and loss account
|
|
160
|
149
|
|
|
----
|
----
|
SHAREHOLDERS' FUNDS
|
|
162
|
151
|
|
|
----
|
----
|
|
|
|
|
|
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.
Director's 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 director acknowledges his 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 and signed by the director and authorised for issue on
19 December 2016
.
Mr A Wheeldon
Director
Company Registration Number:
05491113
ANDREW'S APPLIANCE SERVICES LTD
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).
Turnover
Turnover represents amounts receivable for services provided during the year. Amounts receivable for services performed over time are based upon the stage of completion of the services performed. Turnover excludes VAT.
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:
Motor vehicles-25% reducing balance
Computer and office equipment-25% reducing balance
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Hire purchase agreements
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.
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 director considers 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 liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
2.
FIXED ASSETS
COST
At 1 April 2015
|
14,135
|
Additions
|
81
|
Disposals
|
(
12,500)
|
|
---------
|
At 31 March 2016
|
1,716
|
|
---------
|
|
|
DEPRECIATION
At 1 April 2015
|
10,206
|
Charge for year
|
95
|
On disposals
|
(
8,873)
|
|
---------
|
At 31 March 2016
|
1,428
|
|
---------
|
|
|
NET BOOK VALUE
At 31 March 2016
|
288
|
|
----
|
|
|
At 31 March 2015
|
3,929
|
|
-------
|
|
|
3.
RELATED PARTY TRANSACTIONS
The company was under the control of the director
Mr A Wheeldon
, throughout the current and previous year by virtue of his interest in 100% of the company's issued ordinary share capital. Included in debtors is a loan to the director amounting to £nil (2015 - £2,515). The loan is repayable on demand. Included in creditors amounts due within one year is a loan from the director amounting to £341 (2015 - £nil). The loan is repayable on demand.
4.
SHARE CAPITAL
Allotted, called up and fully paid:
|
2016
|
2015
|
|
No.
|
£
|
No.
|
£
|
|
Ordinary shares of £ 1 each
|
2
|
2
|
2
|
2
|
|
|
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|
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|
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|
|
|
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|