Company Registration No. 06547837 (England and Wales)
ADDISON-ROSS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2016
ADDISON-ROSS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
ADDISON-ROSS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 APRIL 2016
30 April 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
13,160
16,794
Current assets
Stocks
218,342
202,558
Debtors
353,904
222,847
Cash at bank and in hand
12,512
21,683
584,758
447,088
Creditors: amounts falling due within one year
3
(310,190)
(286,313)
Net current assets
274,568
160,775
Total assets less current liabilities
287,728
177,569
Provisions for liabilities
(1,511)
(1,732)
Accruals and deferred income
(2,880)
(4,802)
283,337
171,035
Capital and reserves
Called up share capital
4
300
300
Profit and loss account
283,037
170,735
Shareholders' funds
283,337
171,035
ADDISON-ROSS LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2016
30 April 2016
- 2 -
For the financial year ended 30 April 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his 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 5 January 2017
D.A.A. Ross
Director
Company Registration No. 06547837
ADDISON-ROSS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 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
Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land 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:
E-commerce Project
33% Straight Line
Computer equipment
33%/100% Straight Line
Fixtures and fittings
20% Reducing Balance
Plant & Machinery
20% Reducing Balance
1.5
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.6
Stock
Stock is valued at the lower of cost and net realisable value.
1.7
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
1.8
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
1.9
Government grants
Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
ADDISON-ROSS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2016
- 4 -
2
Fixed assets
Tangible assets
£
Cost
At 1 May 2015
45,583
Additions
4,230
At 30 April 2016
49,813
Depreciation
At 1 May 2015
28,789
Charge for the year
7,864
At 30 April 2016
36,653
Net book value
At 30 April 2016
13,160
At 30 April 2015
16,794
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £39,974 (2015 - £63,474).
4
Share capital
2016
2015
£
£
Allotted, called up and fully paid
300 Ordinary Shares of £1 each
300
300