Company Registration No. 04335199 (England and Wales)
ADVANCED TOTES LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2016
ADVANCED TOTES LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ADVANCED TOTES LIMITED
ABBREVIATED BALANCE SHEET
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
23,977
1,150
Current assets
Stocks
47,994
19,322
Debtors
174,877
39,249
Cash at bank and in hand
37,390
20,684
260,261
79,255
Creditors: amounts falling due within one year
(102,349)
(78,858)
Net current assets
157,912
397
Total assets less current liabilities
181,889
1,547
Provisions for liabilities
(4,200)
177,689
1,547
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
177,589
1,447
Shareholders' funds
177,689
1,547
For the financial year ended 31 May 2016 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 8 November 2016
P Simpson
Director
Company Registration No. 04335199
ADVANCED TOTES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 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
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.3
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
20% straight line
Motor vehicles
20 % straight line
1.4
Stock
Stock is valued at the lower of cost and net realisable value.
1.5
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.
1.6
Deferred taxation
Deferred taxation is provided at appropriate rates on all timing differences using the liability method only to the extent that, in the opinion of the director, there is a reasonable probability that a liability or asset will crystallise in the foreseeable future.
ADVANCED TOTES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2016
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 June 2015
15,724
Additions
28,845
Disposals
(4,500)
At 31 May 2016
40,069
Depreciation
At 1 June 2015
14,574
On disposals
(4,500)
Charge for the year
6,018
At 31 May 2016
16,092
Net book value
At 31 May 2016
23,977
At 31 May 2015
1,150
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary of £1 each
100
100