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Unaudited Financial Statements |
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for the Year Ended 31 August 2017 |
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for |
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AND Industrial Supplies Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 August 2017 |
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for |
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AND Industrial Supplies Limited |
AND Industrial Supplies Limited (Registered number: 04825776) |
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Contents of the Financial Statements |
for the Year Ended 31 August 2017 |
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Page |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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AND Industrial Supplies Limited |
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Company Information |
for the Year Ended 31 August 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AND Industrial Supplies Limited (Registered number: 04825776) |
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Statement of Financial Position |
31 August 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
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Tangible assets | 6 |
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CURRENT ASSETS |
Stocks |
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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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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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The directors acknowledge their responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the
Companies Act 2006 and |
(b) |
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. |
AND Industrial Supplies Limited (Registered number: 04825776) |
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Statement of Financial Position - continued |
31 August 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors on
behalf by: |
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AND Industrial Supplies Limited (Registered number: 04825776) |
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Notes to the Financial Statements |
for the Year Ended 31 August 2017 |
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1. | STATUTORY INFORMATION |
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AND Industrial Supplies Limited is a
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Wales. The company's registered number and registered office address can be found on the Company |
Information page. |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
The financial statements cover the company as an individual entity, have been prepared under the |
historical cost convention and are presented in Pounds Sterling (£) being the functional currency. |
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The financial statements have been prepared on the assumption that the company is able to carry on |
business as a going concern, which the directors consider appropriate having regard to the company's |
current and expected performance. |
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Turnover |
Turnover is stated net of VAT and trade discounts. Turnover from the sale of goods is recognised when |
the goods are physically delivered to the customer. |
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Goodwill |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
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Financial instruments |
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible |
preference and non-puttable ordinary shares which are measured at fair value, with changes |
recognised in profit or loss. Derivative financial instruments are initially recorded at cost and |
thereafter at fair value with changes recognised in profit or loss. |
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AND Industrial Supplies Limited (Registered number: 04825776) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2017 |
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3. | ACCOUNTING POLICIES - continued |
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 statement of financial position 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 profit or loss over the relevant period. The |
capital element of the future payments is treated as a liability. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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5. | INTANGIBLE FIXED ASSETS |
Goodwill |
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COST |
At 1 September 2016 |
and 31 August 2017 |
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AMORTISATION |
At 1 September 2016 |
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Charge for year |
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At 31 August 2017 |
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NET BOOK VALUE |
At 31 August 2017 |
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At 31 August 2016 |
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AND Industrial Supplies Limited (Registered number: 04825776) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2017 |
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6. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 September 2016 |
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Additions |
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Disposals |
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At 31 August 2017 |
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DEPRECIATION |
At 1 September 2016 |
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Charge for year |
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Eliminated on disposal |
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( |
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At 31 August 2017 |
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NET BOOK VALUE |
At 31 August 2017 |
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At 31 August 2016 |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
£ |
COST |
At 1 September 2016 |
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Additions |
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Disposals | ( |
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At 31 August 2017 |
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DEPRECIATION |
At 1 September 2016 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 August 2017 |
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NET BOOK VALUE |
At 31 August 2017 |
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At 31 August 2016 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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AND Industrial Supplies Limited (Registered number: 04825776) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2017 |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Hire purchase contracts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2017 | 2016 |
£ | £ |
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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2017 | 2016 |
£ | £ |
Hire purchase contracts | 6,975 | 1,302 |
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Hire Purchase balance is secured against the assets to which it relates. |
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11. | FIRST YEAR ADOPTION |
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These financial statements are the first that comply with Financial Reporting Standard (FRS) 102 - |
section 1.A Small Entities. The company's transition date was 1 September 2015. The transition to FRS |
102 has not resulted in any transitional adjustments as a result of accounting policy changes to comply |
with the new reporting standard. |