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Report of the Directors and |
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Financial Statements for the Year Ended 31 December 2015 |
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Anderson Choice Limited |
REGISTERED NUMBER:
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Report of the Directors and |
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Financial Statements for the Year Ended 31 December 2015 |
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for |
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Anderson Choice Limited |
Anderson Choice Limited (Registered number: 08894152) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2015 |
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Company Information | 1 |
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Report of the Directors | 2 |
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Report of the Independent Auditors | 3 |
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Profit and Loss Account | 4 |
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Balance Sheet | 5 |
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Notes to the Financial Statements | 6 |
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Anderson Choice Limited |
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Company Information |
for the Year Ended 31 December 2015 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Anderson Choice Limited (Registered number: 08894152) |
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Report of the Directors |
for the Year Ended 31 December 2015 |
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The directors present their report with the financial statements of the company for the year ended 31 December 2015. |
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DIRECTORS |
The directors shown below have held office during the whole of the period from 1 January 2015 to the date of this report. |
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STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with |
applicable law and regulations. |
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Company law requires the directors to prepare financial statements for each financial year. Under that law the directors |
have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting |
Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not |
approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the |
company and of the profit or loss of the company for that period. In preparing these financial statements, the directors |
are required to: |
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- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company
will continue in business. |
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The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the |
company's transactions and disclose with reasonable accuracy at any time the financial position of the company and |
enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for |
safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud |
and other irregularities. |
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STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act |
2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have |
taken as a director in order to make himself aware of any relevant audit information and to establish that the company's |
auditors are aware of that information. |
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AUDITORS |
The auditors, Jeffreys Henry LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
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This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small |
companies. |
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ON BEHALF OF THE BOARD: |
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Report of the Independent Auditors to the Members of |
Anderson Choice Limited |
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We have audited the financial statements of Anderson Choice Limited for the year ended 31 December 2015 on pages |
four to ten. The financial reporting framework that has been applied in their preparation is applicable law and the |
Financial Reporting Standard for Smaller Entities (effective January 2015) (United Kingdom Generally Accepted |
Accounting Practice applicable to Smaller Entities). |
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This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the |
Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those |
matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent |
permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's |
members as a body, for our audit work, for this report, or for the opinions we have formed. |
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Respective responsibilities of directors and auditors |
As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board's Ethical Standards for Auditors. |
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Scope of the audit of the financial statements |
An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give |
reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or |
error. This includes an assessment of: whether the accounting policies are appropriate to the company's circumstances |
and have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates |
made by the directors; and the overall presentation of the financial statements. In addition, we read all the financial and |
non-financial information in the Report of the Directors to identify material inconsistencies with the audited financial |
statements and to identify any information that is apparently materially incorrect based on, or materially inconsistent |
with, the knowledge acquired by us in the course of performing the audit. If we become aware of any apparent material |
misstatements or inconsistencies we consider the implications for our report. |
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Opinion on financial statements |
In our opinion the financial statements: |
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give a true and fair view of the state of the company's affairs as at 31 December 2015 and of its profit for the year
then ended; |
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice applicable
to Smaller Entities; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
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Opinion on other matter prescribed by the Companies Act 2006 |
In our opinion the information given in the Report of the Directors for the financial year for which the financial statements |
are prepared is consistent with the financial statements. |
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Matters on which we are required to report by exception |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you |
if, in our opinion: |
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adequate accounting records have not been kept, or returns adequate for our audit have not been received from
branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of directors' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit; or |
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the directors were not entitled to prepare the financial statements in accordance with the small companies regime
and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors. |
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for and on behalf of
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Anderson Choice Limited (Registered number: 08894152) |
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Profit and Loss Account |
for the Year Ended 31 December 2015 |
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Period |
13.2.14 |
Year Ended | to |
31.12.15 | 31.12.14 |
Notes | £ | £ |
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TURNOVER |
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Cost of sales |
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GROSS PROFIT |
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Administrative expenses |
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822,558 | 38,623 |
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Other operating income |
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OPERATING PROFIT | 2 |
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Interest payable and similar charges |
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PROFIT ON ORDINARY ACTIVITIES BEFORE
TAXATION |
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Tax on profit on ordinary activities | 3 |
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PROFIT FOR THE FINANCIAL YEAR |
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Anderson Choice Limited (Registered number: 08894152) |
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Balance Sheet |
31 December 2015 |
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31.12.15 | 31.12.14 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
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Tangible assets | 6 |
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CURRENT ASSETS |
Debtors | 7 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS/(LIABILITIES) |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
9 |
( |
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( |
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PROVISIONS FOR LIABILITIES | 11 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 12 |
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Profit and loss account | 13 |
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SHAREHOLDERS' FUNDS |
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The financial statements were approved by the Board of Directors on
by: |
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Anderson Choice Limited (Registered number: 08894152) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2015 |
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1. | ACCOUNTING POLICIES |
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Accounting convention |
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). |
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Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 8 Related |
Party Disclosures, not to disclose related party transactions with wholly owned subsidiaries within the group. |
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Turnover |
Turnover represents net invoiced sales of goods, excluding value added tax. |
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Intangible assets |
Amortisation on intangible fixed assets is provided at the following annual rates in order to write off each asset |
over its estimated useful life. |
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Computer software - 20% on cost |
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Tangible fixed assets |
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Short leasehold | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Computer equipment | - |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those |
held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance |
leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to the profit and loss account over the relevant period. The |
capital element of the future payments is treated as a liability. |
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Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
period of the lease. |
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2. | OPERATING PROFIT |
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The operating profit is stated after charging: |
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Period |
13.2.14 |
Year Ended | to |
31.12.15 | 31.12.14 |
£ | £ |
Depreciation - owned assets |
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Depreciation - assets on hire purchase contracts |
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Computer software amortisation |
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Auditors' remuneration |
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Directors' remuneration and other benefits etc |
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Anderson Choice Limited (Registered number: 08894152) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2015 |
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3. | TAXATION |
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Analysis of the tax charge |
The tax charge on the profit on ordinary activities for the year was as follows: |
Period |
13.2.14 |
Year Ended | to |
31.12.15 | 31.12.14 |
£ | £ |
Current tax: |
UK corporation tax |
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Deferred tax |
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Tax on profit on ordinary activities |
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4. | DIVIDENDS |
Period |
13.2.14 |
Year Ended | to |
31.12.15 | 31.12.14 |
£ | £ |
Interim | 200,000 | 20,000 |
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5. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
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COST |
At 1 January 2015 |
and 31 December 2015 |
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AMORTISATION |
At 1 January 2015 |
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Charge for year |
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At 31 December 2015 |
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NET BOOK VALUE |
At 31 December 2015 |
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At 31 December 2014 |
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Anderson Choice Limited (Registered number: 08894152) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2015 |
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6. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 January 2015 |
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Additions |
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At 31 December 2015 |
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DEPRECIATION |
At 1 January 2015 |
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Charge for year |
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At 31 December 2015 |
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NET BOOK VALUE |
At 31 December 2015 |
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At 31 December 2014 |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
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Plant and |
machinery |
etc |
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COST |
At 1 January 2015 |
and 31 December 2015 |
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DEPRECIATION |
At 1 January 2015 |
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Charge for year |
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At 31 December 2015 |
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NET BOOK VALUE |
At 31 December 2015 |
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At 31 December 2014 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.15 | 31.12.14 |
£ | £ |
Trade debtors | 579,715 | 228,990 |
Amounts owed by group undertakings |
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Other debtors | 197,422 | 75,702 |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.15 | 31.12.14 |
£ | £ |
Hire purchase contracts |
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Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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Anderson Choice Limited (Registered number: 08894152) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2015 |
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9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.12.15 | 31.12.14 |
£ | £ |
Hire purchase contracts |
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10. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.12.15 | 31.12.14 |
£ | £ |
Hire purchase contracts | 26,529 | 47,782 |
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11. | PROVISIONS FOR LIABILITIES |
31.12.15 | 31.12.14 |
£ | £ |
Deferred tax |
Accelerated capital allowances |
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Deferred |
tax |
£ |
Balance at 1 January 2015 |
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Accelerated capital allowances |
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Balance at 31 December 2015 |
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12. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.15 | 31.12.14 |
value: | £ | £ |
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Ordinary | £1 |
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13. | RESERVES |
Profit |
and loss |
account |
£ |
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At 1 January 2015 |
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Profit for the year |
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Dividends | ( |
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At 31 December 2015 |
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14. | ULTIMATE PARENT COMPANY |
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Anderson Choice Limited (Registered number: 08894152) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2015 |
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15. | RELATED PARTY DISCLOSURES |
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Anderson Business Solutions PVT |
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A company in which Mr Fynn is a shareholder. |
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The company traded during the year on a normal commercial basis. The costs of £42,750 (2014: £34,500) are |
included in administrative expenses. |
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31.12.15 | 31.12.14 |
£ | £ |
Amount due to related party at the balance sheet date |
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Enhanced Consulting Limited |
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A company in which Mr Fynn is a director. |
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During the period the company provided consultancy services on a normal commercial basis. The amount of |
£50,000 (2014: £nil) is included in administrative expenses. |
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Investment Decision Ltd |
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A company in which Mr Smith is a director. |
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During the period the company provided consultancy services on a normal commercial basis. The amount of |
£82,000 (2014: £81,793) is included in administrative expenses. |
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31.12.15 | 31.12.14 |
£ | £ |
Amount due to related party at the balance sheet date |
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SZed Consulting Ltd |
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A company in which Mr Zahab is a director. |
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During the period the company provided consultancy services on a normal commercial basis. The amount of |
£46,000 (2014: £nil) is included in administrative expenses. |
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31.12.15 | 31.12.14 |
£ | £ |
Amount due to related party at the balance sheet date |
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IT Support Ltd |
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A company in which Mr Fynn and Mr Smith are directors. |
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During the period the company provided services on a normal commercial basis. The amount of £94,615 (2014: |
£184,142) is included in administrative expenses. During the company made sales of capital equipment of |
£18,358 (2014: £nil). |
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31.12.15 | 31.12.14 |
£ | £ |
Amount due to related party at the balance sheet date |
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16. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is
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