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Report of the Directors and |
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Unaudited Financial Statements for the Year Ended 31 December 2016 |
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Anderson Choice Limited |
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REGISTERED NUMBER:
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Report of the Directors and |
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Unaudited Financial Statements for the Year Ended 31 December 2016 |
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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 2016 |
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Company Information | 1 |
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Report of the Directors | 2 |
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Income Statement | 3 |
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Balance Sheet | 4 |
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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 2016 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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5th Floor |
Hampton by Hilton |
42-50 Kimpton Road |
Luton |
Bedfordshire |
LU2 0FP |
Anderson Choice Limited (Registered number: 08894152) |
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Report of the Directors |
for the Year Ended 31 December 2016 |
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The directors present their report with the financial statements of the company for the year ended 31 December 2016. |
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PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of subcontractors |
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DIRECTORS |
The directors shown below have held office during the whole of the period from 1 January 2016 to the date of this report. |
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Other changes in directors holding office are as follows: |
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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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Anderson Choice Limited (Registered number: 08894152) |
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Income Statement |
for the Year Ended 31 December 2016 |
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31.12.16 | 31.12.15 |
Notes | £ | £ |
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REVENUE |
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Cost of sales |
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GROSS PROFIT |
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Administrative expenses |
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OPERATING PROFIT | 3 |
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Interest payable and similar expenses |
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PROFIT BEFORE TAXATION |
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Tax on profit |
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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 2016 |
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31.12.16 | 31.12.15 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Property, plant and equipment | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT (LIABILITIES)/ASSETS | ( |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CREDITORS |
Amounts falling due after more than one year | 8 | ( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | 9 |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006
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preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each
financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Anderson Choice Limited (Registered number: 08894152) |
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Balance Sheet - continued |
31 December 2016 |
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The financial statements were approved by the Board of Directors on
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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 2016 |
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1. | STATUTORY INFORMATION |
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Anderson Choice Limited is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value |
added tax and other sales taxes. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any |
accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if |
held under a finance lease, over the lease term, whichever is shorter. |
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Short leasehold | - in accordance with the property |
Plant and machinery | - 15% on cost |
Fixtures and fittings | - 33% on reducing balance |
Computer equipment | - 50% on cost |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the |
extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the balance sheet date. |
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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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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in |
which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been |
enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing |
difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be |
recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Anderson Choice Limited (Registered number: 08894152) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2016 |
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2. | ACCOUNTING POLICIES - continued |
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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 profit or loss 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 profit or loss on a straight line basis over the period of the lease. |
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3. | OPERATING PROFIT |
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The operating profit is stated after charging: |
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31.12.16 | 31.12.15 |
£ | £ |
Depreciation - owned assets |
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Computer software amortisation |
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4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
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COST |
At 1 January 2016 |
and 31 December 2016 |
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AMORTISATION |
At 1 January 2016 |
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Charge for year |
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At 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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At 31 December 2015 |
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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 2016 |
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5. | PROPERTY, PLANT AND EQUIPMENT |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 January 2016 |
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Additions |
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At 31 December 2016 |
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DEPRECIATION |
At 1 January 2016 |
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Charge for year |
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At 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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At 31 December 2015 |
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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 2016 |
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Additions |
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At 31 December 2016 |
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DEPRECIATION |
At 1 January 2016 |
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Charge for year |
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At 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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At 31 December 2015 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.16 | 31.12.15 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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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 2016 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.16 | 31.12.15 |
£ | £ |
Bank loans and overdrafts |
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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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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.12.16 | 31.12.15 |
£ | £ |
Hire purchase contracts |
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9. | RESERVES |
Retained |
earnings |
£ |
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At 1 January 2016 |
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Profit for the year |
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Dividends | ( |
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At 31 December 2016 |
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10. | 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 £44,000 (2015: £42,750) are included |
in administrative expenses. |
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31.12.16 | 31.12.15 |
£ | £ |
Amount due to related party at the balance sheet date | 4,000 | 3,000 |
Anderson Choice Limited (Registered number: 08894152) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2016 |
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10. | RELATED PARTY DISCLOSURES - continued |
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Enhanced Consulting Limited |
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A company in which Mr Fynn is a shareholder. |
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During the period the company provided consultancy services on a normal commercial basis. The amount of £60,000 |
(2015: £50,000) is included in administrative expenses. |
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31.12.16 | 31.12.15 |
£ | £ |
Amount due to related party at the balance sheet date | 6,000 | - |
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Investment Decision Ltd |
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A company in which Mr Smith is a shareholder. |
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During the period the company provided consultancy services on a normal commercial basis. The amount of £24,000 |
(2015: £82,000) is included in administrative expenses. |
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31.12.16 | 31.12.15 |
£ | £ |
Amount due to related party at the balance sheet date | 2,400 | 2,400 |
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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 £197,000 |
(2015: £46,000l) is included in administrative expenses. |
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31.12.16 | 31.12.15 |
£ | £ |
Amount due to related party at the balance sheet date | 66,800 | 9,200 |
Anderson Choice Limited (Registered number: 08894152) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2016 |
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10. | RELATED PARTY DISCLOSURES - continued |
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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 £106,100 (2015: |
£94,615) is included in administrative expenses. |
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During period the company made sales of capital equipment of £127,661 (2015: £18,358). |
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During the period the company has also taken a loan of £1,511.88. |
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31.12.16 | 31.12.15 |
£ | £ |
Amount due to related party at the balance sheet date | 25,956 | 7,560 |
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Keybox Traders Limited |
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A company in which Mr Fynn, Mr Smith & Mr Zahab are directors. |
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During the period the company provided services on a normal commercial basis. The amount of £102,561 (2015: nil) is |
included in administrative expenses. |
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During the period the company has also taken a loan of £1500. |
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31.12.16 | 31.12.15 |
£ | £ |
Amount due from related party at the balance sheet date | 1,500 | - |
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Cubix Office Services Limited |
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A company in which Mr Fynn, Mr Smith & Mr Zahab are the directors. |
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During the period the company has taken a loan of £31,373.26 (2015: nil) |
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31.12.16 | 31.12.15 |
£ | £ |
Amount due from related party at the balance sheet date | 31,373 | - |
Anderson Choice Limited (Registered number: 08894152) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2016 |
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10. | RELATED PARTY DISCLOSURES - continued |
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Anderson Company Solutions Limited |
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A company in which Mr Fynn and Mr. Smith have indirect ownership. |
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During the year the company received services on a normal commercial basis. The total of £144,100 (2015: £7,425) is |
included in sales. |
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The Company has also given a loan of £54.00 during the year. |
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31.12.16 | 31.12.15 |
£ | £ |
Amount due to related party at the balance sheet date | 54 | - |
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Anderson Business Holdings |
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A company in which Mr Fynn and Mr. Smith have indirect ownership. |
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During the period the company has taken a loan of £100. |
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31.12.16 | 31.12.15 |
£ | £ |
Amount due from related party at the balance sheet date | 100 | - |
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Plus Payroll Services Limited |
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A company in which Mr Fynn, Mr Smith and Mr Zahab are directors. |
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The Company has taken a loan of £1500. |
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31.12.16 | 31.12.15 |
£ | £ |
Amount due from related party at the balance sheet date | 1,500 | - |