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Abbreviated Accounts for the Year Ended 31 March 2015 |
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for |
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Aberdeen Tile Distributors Limited |
REGISTERED NUMBER:
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Abbreviated Accounts for the Year Ended 31 March 2015 |
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for |
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Aberdeen Tile Distributors Limited |
Aberdeen Tile Distributors Limited (Registered number: SC239511) |
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Contents of the Abbreviated Accounts |
for the Year Ended 31 March 2015 |
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Page |
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Abbreviated Balance Sheet | 1 |
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Notes to the Abbreviated Accounts | 3 |
Aberdeen Tile Distributors Limited (Registered number: SC239511) |
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Abbreviated Balance Sheet |
31 March 2015 |
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31.3.15 | 31.3.14 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 2 |
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Tangible assets | 3 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Prepayments and accrued income |
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Cash in hand |
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CREDITORS |
Amounts falling due within one year | 4 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
4 |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 5 |
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Profit and loss account |
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SHAREHOLDERS' FUNDS |
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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. |
Aberdeen Tile Distributors Limited (Registered number: SC239511) |
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Abbreviated Balance Sheet - continued |
31 March 2015 |
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The financial statements were approved by the Board of Directors on
by: |
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Aberdeen Tile Distributors Limited (Registered number: SC239511) |
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Notes to the Abbreviated Accounts |
for the Year Ended 31 March 2015 |
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1. | ACCOUNTING POLICIES |
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Accounting policies |
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. |
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Accounting convention |
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). |
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Turnover |
Turnover represents the amount derived from the provision of goods and services falling within the company's |
activities after deduction of trade discounts and value added tax. |
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Goodwill |
Goodwill is the excess of the amount paid on acquisition of the business and the fair value of the net assets. It |
is being written off in equal annual instalments overs its estimated useful life of 10 years. |
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Tangible fixed assets |
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Freehold | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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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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Deferred tax |
Deferred taxation is provided on the liability method to take account of timing differences between the |
treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or |
accelerated is accounted for in respect of all material timing differences. |
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Foreign currency translation |
Transactions during the year are recorded using rates of exchange prevailing at the date they occur. Assets |
and liabilities denominated in foreign currencies are translated into sterling at the year end rates of exchange. |
Exchange gains or losses are reflected in the profit and loss account. |
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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 the profit and loss account over the relevant period. The |
capital element of the future payments is treated as a liability. |
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Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
period of the lease. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss |
account as they become payable in accordance with the rules of the scheme. |
Aberdeen Tile Distributors Limited (Registered number: SC239511) |
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Notes to the Abbreviated Accounts - continued |
for the Year Ended 31 March 2015 |
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1. | ACCOUNTING POLICIES - continued |
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Leases |
Tangible fixed assets acquired under finance leases and hire purchase contracts are capitalised at the estimated |
fair value at the date of inception of each loss or contract. The total finance charges are allocated over the |
period of the lease in such a way as to give a reasonably constant charge on the outstanding liability. |
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Rentals paid under operating leases are charged to income as incurred. |
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2. | INTANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 April 2014 |
and 31 March 2015 |
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AMORTISATION |
At 1 April 2014 |
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Amortisation for year |
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At 31 March 2015 |
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NET BOOK VALUE |
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At 31 March 2015 |
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At 31 March 2014 |
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3. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 April 2014 |
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Additions |
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Disposals | ( |
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At 31 March 2015 |
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DEPRECIATION |
At 1 April 2014 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 March 2015 |
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NET BOOK VALUE |
At 31 March 2015 |
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At 31 March 2014 |
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4. | CREDITORS |
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Creditors include an amount of £
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Aberdeen Tile Distributors Limited (Registered number: SC239511) |
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Notes to the Abbreviated Accounts - continued |
for the Year Ended 31 March 2015 |
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4. | CREDITORS - continued |
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They also include the following debts falling due in more than five years: |
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31.3.15 | 31.3.14 |
£ | £ |
Repayable otherwise than by instalments | 10,259 | 15,835 |
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5. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.15 | 31.3.14 |
value: | £ | £ |
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'A' Ordinary Shares | £1 |
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'B' Ordinary Shares | £1 |
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5.75% Redeemable Preference |
Shares | £1 |
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177,191 | 184,465 |
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The 5.75% Redeemable Shares are redeemable at the option of the company. |