Registered Number 05347210
TOTAL FX FIREWORKS LIMITED
Abbreviated Accounts
31 December 2014
Notes | 2014 | 2013 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Current assets | |||
Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
( |
( |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Provisions for liabilities |
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( |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 3 |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year and also have been consistently applied within the same accounts.
Basis of preparation of financial statements
The financial statements have been prepared under the Historical Cost Convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover policy
Tangible assets depreciation policy
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost of each asset over it's estimated useful life at the following rates:-
Plant and Machinery : 25% on Written Down Value
Computer Equipment : 33% on Cost
Motor Vehicles : 25% on Written Down Value
Valuation information and policy
Stocks are entirely goods for resale and are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items.
Other accounting policies
Deferred Taxation is provided on the liability method at the small companies rate (considered to be appropriate) and reflects the taxation benefit obtained from the differing treatment of capital allowances in respect of fixed assets as compared with the depreciation charged.
£ | |
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Cost | |
At 1 January 2014 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 December 2014 |
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Depreciation | |
At 1 January 2014 |
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Charge for the year |
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On disposals |
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At 31 December 2014 |
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Net book values | |
At 31 December 2014 | 7,915 |
At 31 December 2013 | 1,385 |