Abbreviated Company Accounts - A & D PLASTICS RECYCLING LIMITED

A & D PLASTICS RECYCLING LIMITED Registered Number 03995884

Abbreviated Balance Sheet as at 31 May 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	62,978	54,203
		62,978	54,203
Current assets
Stocks		12,683	9,100
Debtors		131,865	112,386
Cash at bank and in hand		17,523	19,527
		162,071	141,013
Creditors: amounts falling due within one year		(153,150)	(93,925)
Net current assets (liabilities)		8,921	47,088
Total assets less current liabilities		71,899	101,291
Creditors: amounts falling due after more than one year		(14,500)	-
Provisions for liabilities		(10,643)	(10,841)
Total net assets (liabilities)		46,756	90,450
Capital and reserves
Called up share capital	3	2	2
Profit and loss account		46,754	90,448
Shareholders' funds		46,756	90,450

For the year ending 31 May 2015 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 22 January 2016

And signed on their behalf by:
V Harris, Director

A & D PLASTICS RECYCLING LIMITED Registered Number 03995884

Notes to the Abbreviated Accounts for the period ended 31 May 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Plant and machinery - 25% reducing balance
Fixtures, fittings and equipment - 25% reducing balance
Motor vehicles - 25% reducing balance

Other accounting policies
LEASING AND HIRE PURCHASE COMMITMENTS
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce constant periodic rates of charge on the net obligations outstanding in each period.

STOCK
Stock is valued at the lower of cost and net realisable value.

TRANSACTIONS WITH DIRECTORS
During the year, the company paid dividends totalling £40,500 (2014 £40,000) to the directors, D. Harris & V Harris.

2Tangible fixed assets

	£
Cost
At 1 June 2014	213,193
Additions	54,506
Disposals	(79,490)
Revaluations	-
Transfers	-
At 31 May 2015	188,209
Depreciation
At 1 June 2014	158,990
Charge for the year	20,991
On disposals	(54,750)
At 31 May 2015	125,231
Net book values
At 31 May 2015	62,978
At 31 May 2014	54,203

3Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
2 Ordinary shares of £1 each	2	2