Company Registration No. 7516812 (England and Wales)
AGEDEFY LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2016
AGEDEFY LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
AGEDEFY LIMITED
ABBREVIATED BALANCE SHEET
AS AT
28 FEBRUARY 2016
28 February 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
654
872
Current assets
Stocks
793
1,944
Debtors
2,535
5,107
Cash at bank and in hand
9,980
11,627
13,308
18,678
Creditors: amounts falling due within one year
(10,300)
(23,368)
Net current assets/(liabilities)
3,008
(4,690)
Total assets less current liabilities
3,662
(3,818)
Capital and reserves
Called up share capital
3
2
2
Profit and loss account
3,660
(3,820)
Shareholders' funds
3,662
(3,818)
For the financial year ended 28 February 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 year 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 5 May 2016
Mr R G Faulkner
Director
Company Registration No. 7516812
AGEDEFY LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 28 FEBRUARY 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
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
25% on reducing balance
Computer equipment
25% on reducing balance
1.5
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
1.6
The director consider that, notwithstanding the company's negative net assets position, it is appropriate to prepare the accounts on a going concern basis as the company will be able to continue to meet its liabilities as they fall due, due to the continuing support of the director.
2
Fixed assets
Tangible assets
£
Cost
At 1 March 2015 & at 28 February 2016
2,490
Depreciation
At 1 March 2015
1,618
Charge for the year
218
At 28 February 2016
1,836
Net book value
At 28 February 2016
654
At 28 February 2015
872
AGEDEFY LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2016
- 3 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
2 Ordinary of £1 each
2
2