Company Registration No. 10205184 (England and Wales)
Adam's Discount Electronics Limited
Unaudited accounts
for the year ended 31 May 2018
Adam's Discount Electronics Limited
Unaudited accounts
Contents
Adam's Discount Electronics Limited
Company Information
for the year ended 31 May 2018
Director
WILLIAMSON, Adam Keith
Company Number
10205184 (England and Wales)
Registered Office
71-75 SHELTON STREET
LONDON
WC2H 9JQ
UNITED KINGDOM
Adam's Discount Electronics Limited
Statement of financial position
as at
31 May 2018
Inventories
123,169
99,966
Cash at bank and in hand
2,465
2,195
Creditors: amounts falling due within one year
(142,333)
(123,734)
Net current assets
5,512
18,206
Called up share capital
100
100
Profit and loss account
5,762
18,464
Shareholders' funds
5,862
18,564
For the year ending 31 May 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 11 February 2019.
WILLIAMSON, Adam Keith
Director
Company Registration No. 10205184
Adam's Discount Electronics Limited
Notes to the Accounts
for the year ended 31 May 2018
Adam's Discount Electronics Limited is a private company, limited by shares, registered in England and Wales, registration number 10205184. The registered office is 71-75 SHELTON STREET, LONDON, WC2H 9JQ, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
straight line basis over 5 years
Fixtures & fittings
straight line basis over 5 years
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 June 2017
135
313
448
At 31 May 2018
135
415
550
Charge for the year
27
83
110
At 31 May 2018
54
146
200
At 31 May 2018
81
269
350
At 31 May 2017
108
250
358
Finished goods
123,169
99,966
Adam's Discount Electronics Limited
Notes to the Accounts
for the year ended 31 May 2018
Other debtors
22,211
29,230
7
Creditors: amounts falling due within one year
2018
2017
Bank loans and overdrafts
2,230
-
Taxes and social security
8,342
19,372
Other creditors
67,417
55,227
Loans from directors
49,135
49,135
8
Average number of employees
During the year the average number of employees was 2 (2017: 0).