Company Registration No. 02802324 (England and Wales)
ANGLO PACIFIC MINERALS LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
ANGLO PACIFIC MINERALS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 4
ANGLO PACIFIC MINERALS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2015
31 December 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
30,500
23,387
Investments
2
75
75
30,575
23,462
Current assets
Debtors
62,731
55,585
Cash at bank and in hand
3,935
24,305
66,666
79,890
Creditors: amounts falling due within one year
(97,508)
(102,813)
Net current liabilities
(30,842)
(22,923)
Total assets less current liabilities
(267)
539
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
(367)
439
Shareholders' funds
(267)
539
For the financial year ended 31 December 2015 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 financial statements for the year in question in accordance with section 476;
-
The director acknowledges his 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 15 April 2016
Mr J Allen
Director
Company Registration No. 02802324
ANGLO PACIFIC MINERALS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
- 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 other than freehold land 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:
Leasehold property
10% straight line basis
Computer equipment
33% reducing balance
Fixtures, fittings & equipment
25% Reducing balance
Motor vehicles
25% reducing balance
1.5
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
1.6
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
1.7
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.
1.8
Group accounts
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.
ANGLO PACIFIC MINERALS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2015
- 3 -
2
Fixed assets
Tangible assets
Investments
Total
£
£
£
Cost
At 1 January 2015
55,933
75
56,008
Additions
15,793
-
15,793
Disposals
(13,965)
-
(13,965)
At 31 December 2015
57,761
75
57,836
Depreciation
At 1 January 2015
32,548
-
32,548
On disposals
(13,179)
-
(13,179)
Charge for the year
7,892
-
7,892
At 31 December 2015
27,261
-
27,261
Net book value
At 31 December 2015
30,500
75
30,575
At 31 December 2014
23,387
75
23,462
Holdings of more than 20%
The company holds more than 20% of the share capital of the following companies:
Company
Country of registration or
Shares held
incorporation
Class
%
Subsidiary undertakings
Anglo Minerals Limited
England
Ordinary
100.00
The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:
Capital and reserves
Profit/(loss) for the year
2015
2015
Principal activity
£
£
Anglo Minerals Limited
Int'l Mineral Marketing
10,258
48,904
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
100 Ordinary Shares of £1 each
100
100
4
Related party relationships and transactions
ANGLO PACIFIC MINERALS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2015
4
Related party relationships and transactions
(Continued)
- 4 -
Loans to directors
The following director had
an
interest free loan during the year. The movement on th
i
s loan was as follows:
Description
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
Mr J Allen
-
21,916
61,008
-
21,916
61,008
21,916
61,008
-
21,916
61,008
The above loan has been repaid since the balance sheet date.