Company Registration No. 08941596 (England and Wales)
ASHRO CNC LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
ASHRO CNC LTD
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
ASHRO CNC LTD
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
42,917
47,917
Tangible assets
2
63,951
75,123
106,868
123,040
Current assets
Stocks
10,000
10,000
Debtors
83,059
60,836
Cash at bank and in hand
-
30,684
93,059
101,520
Creditors: amounts falling due within one year
(147,658)
(144,628)
Net current liabilities
(54,599)
(43,108)
Total assets less current liabilities
52,269
79,932
Creditors: amounts falling due after more than one year
(30,767)
(44,058)
Provisions for liabilities
(8,096)
(9,771)
13,406
26,103
Capital and reserves
Called up share capital
3
10,000
10,000
Profit and loss account
3,406
16,103
Shareholders' funds
13,406
26,103
ASHRO CNC LTD
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2016
31 March 2016
- 2 -
For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their 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 16 June 2016
Mr A R Yeomans
Director
Company Registration No. 08941596
ASHRO CNC LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
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
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
1.5
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% Reducing Balance
Computer equipment
20% Reducing Balance
Motor vehicles
20% Reducing Balance
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 April 2015
50,000
80,575
130,575
Additions
-
4,384
4,384
At 31 March 2016
50,000
84,959
134,959
Depreciation
At 1 April 2015
2,083
5,452
7,535
Charge for the year
5,000
15,556
20,556
At 31 March 2016
7,083
21,008
28,091
Net book value
At 31 March 2016
42,917
63,951
106,868
At 31 March 2015
47,917
75,123
123,040
ASHRO CNC LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 4 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
10,000 Ordinary shares of £1 each
10,000
10,000