Year Ended
Registration number:
A D Sales Limited
trading as Newquay & St Austell Voice
Contents
Company Information |
|
Balance Sheet |
|
Notes to the Financial Statements |
A D Sales Limited
trading as Newquay & St Austell Voice
Company Information
Director |
Mr A Laming |
Registered office |
|
Accountants |
|
Page 1 |
A D Sales Limited
trading as Newquay & St Austell Voice
Balance Sheet
31 July 2018
Note |
2018 |
2017 |
|
Fixed assets |
|||
Tangible assets |
|
|
|
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
|
Total assets less current liabilities |
|
|
|
Provisions for liabilities |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Profit and loss account |
|
|
|
Total equity |
|
|
Page 2 |
A D Sales Limited
trading as Newquay & St Austell Voice
Balance Sheet
31 July 2018
For the financial year ending 31 July 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
|
• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
......................................... |
Company Registration Number: 03604596
Page 3 |
A D Sales Limited
trading as Newquay & St Austell Voice
Notes to the Financial Statements
Year Ended 31 July 2018
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Tax
Tax is recognised in profit or loss.
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Page 4 |
A D Sales Limited
trading as Newquay & St Austell Voice
Notes to the Financial Statements
Year Ended 31 July 2018
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant and machinery |
25% reducing balance |
Motor vehicles |
25% reducing balance |
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Page 5 |
A D Sales Limited
trading as Newquay & St Austell Voice
Notes to the Financial Statements
Year Ended 31 July 2018
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Financial instruments
Classification
• Short term trade and other debtors and creditors; and
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Page 6 |
A D Sales Limited
trading as Newquay & St Austell Voice
Notes to the Financial Statements
Year Ended 31 July 2018
Tangible assets |
Leasehold land and buildings |
Motor vehicles |
Other property, plant and equipment |
Total |
|
Cost or valuation |
||||
At 1 August 2017 |
|
|
|
|
At 31 July 2018 |
|
|
|
|
Depreciation |
||||
At 1 August 2017 |
- |
|
|
|
Charge for the year |
- |
|
|
|
At 31 July 2018 |
- |
|
|
|
Carrying amount |
||||
At 31 July 2018 |
|
|
|
|
At 31 July 2017 |
|
|
|
|
Debtors |
2018 |
2017 |
|
Trade debtors |
|
|
Other debtors |
|
|
Prepayments |
|
|
|
|
Page 7 |
A D Sales Limited
trading as Newquay & St Austell Voice
Notes to the Financial Statements
Year Ended 31 July 2018
Creditors |
Creditors: amounts falling due within one year
2018 |
2017 |
|
Due within one year |
||
Trade creditors |
|
|
Corporation tax |
8,406 |
2,821 |
Social security and other taxes |
|
|
Outstanding defined contribution pension costs |
|
|
Other creditors |
- |
|
Accrued expenses |
|
|
|
|
Share capital |
Allotted, called up and fully paid shares
2018 |
2017 |
|||
No. |
£ |
No. |
£ |
|
|
|
50 |
|
50 |
Related party transactions |
Advances to directors |
2018 |
At 1 August 2017 |
Advances to director |
Repayments by director |
At 31 July 2018 |
Mr A Laming |
||||
Director's loan |
27,123 |
|
- |
|
2017 |
At 1 August 2016 |
Advances to director |
Repayments by director |
At 31 July 2017 |
Mr A Laming |
||||
Director's loan |
(23,945) |
|
- |
|
Page 8 |