Registered Number 07399958
A.G. DREW ELECTRICAL LIMITED
Abbreviated Accounts
30 November 2015
Notes | 2015 | 2014 | |
---|---|---|---|
£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
|
|
|
|
||
Current assets | |||
Stocks |
|
|
|
Debtors |
|
|
|
|
|
||
Creditors: amounts falling due within one year |
( |
( |
|
Net current assets (liabilities) |
( |
( |
|
Total assets less current liabilities |
( |
|
|
Creditors: amounts falling due after more than one year |
( |
( |
|
Provisions for liabilities |
( |
( |
|
Total net assets (liabilities) |
( |
( |
|
Capital and reserves | |||
Called up share capital | 3 |
|
|
Profit and loss account |
( |
( |
|
Shareholders' funds |
( |
( |
Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
Plant and machinery - 25% reducing balance
Computer equipment - 33% straight line
Motor vehicles - 25% reducing balance
Other accounting policies
Assets acquired under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce constant periodic rates of charge on the net obligations outstanding in each period.
Stock:
Stock is valued at the lower of cost and net realisable value.
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.
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.
Going concern:
The financial statements have been compiled on an Going Concern basis. In view of the trading losses which the company has sustained this is felt to be appropriate only given the continued support of the director.
£ | |
---|---|
Cost | |
At 1 December 2014 |
|
Additions |
|
Disposals |
|
Revaluations |
|
Transfers |
|
At 30 November 2015 |
|
Depreciation | |
At 1 December 2014 |
|
Charge for the year |
|
On disposals |
|
At 30 November 2015 |
|
Net book values | |
At 30 November 2015 | 10,570 |
At 30 November 2014 | 8,296 |
4 Transactions with directors
Name of director receiving advance or credit: |
|
|
---|---|---|
Description of the transaction: |
|
|
Balance at 1 December 2014: | £ |
|
Advances or credits made: |
|
|
Advances or credits repaid: | £ |
|
Balance at 30 November 2015: | £ |