A& D Newsagents Limited - Abbreviated accounts

A& D Newsagents Limited
Balance Sheet
as at 28 February 2014

Notes			2014			2013
£				£
Fixed assets
Intangible assets	3		36,899			38,699
Tangible assets	4		19,031			22,025
			55,930			60,724

Current assets
Stocks		37,450			36,105
Debtors	5	11,449			11,449
Cash at bank and in hand		4,475			8,992
		53,374			56,546

Creditors: amounts falling due within one year	6	(121,300)			(124,896)

Net current liabilities			(67,926)			(68,350)

Net liabilities			(11,996)			(7,626)

Capital and reserves
Called up share capital	7		10			10
Profit and loss account	8		(12,006)			(7,636)

Shareholders' funds			(11,996)			(7,626)

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.




Anand Majithia
Director
Approved by the board on 8 October 2014

A& D Newsagents Limited
Notes to the Accounts
for the year ended 28 February 2014

1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

	Turnover
	Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

	Depreciation
	Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

	Plant and machinery			20% straight line
	Motor vehicles			25% straight line

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

	Deferred taxation
	Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.

	Foreign currencies
	Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.

	Leasing and hire purchase commitments
	Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

	Pensions
	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.


2	Operating profit					2014		2013
£							£
	This is stated after charging:

	Depreciation of owned fixed assets					3,406		3,365
	Amortisation of goodwill					1,800		1,800


3	Intangible fixed assets							£
	Goodwill:

	Cost
	At 1 March 2013							44,999
	At 28 February 2014							44,999

	Amortisation
	At 1 March 2013							6,300
	Provided during the year							1,800
	At 28 February 2014							8,100

	Net book value
	At 28 February 2014							36,899
	At 28 February 2013							38,699

	Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.


4	Tangible fixed assets
				Land and buildings		Plant and machinery etc		Total
£					£		£
	Cost
	At 1 March 2013			3,583		31,256		34,839
	Additions			-		412		412
	At 28 February 2014			3,583		31,668		35,251

	Depreciation
	At 1 March 2013			716		12,098		12,814
	Charge for the year			239		3,167		3,406
	At 28 February 2014			955		15,265		16,220

	Net book value
	At 28 February 2014			2,628		16,403		19,031
	At 28 February 2013			2,867		19,158		22,025


5	Debtors					2014		2013
£							£

	Other debtors					11,449		11,449


6	Creditors: amounts falling due within one year					2014		2013
£							£

	Bank loans and overdrafts					4,784		-
	Director loan account					112,119		119,534
	Other taxes and social security costs					2,162		3,137
	Other creditors					2,235		2,225
						121,300		124,896


7	Share capital	Nominal		2014		2014		2013
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		-		10		10

Nominal			Number		Amount
value			£
	Shares issued during the period:
	Ordinary shares	£1 each		-		10


8	Profit and loss account					2014
£

	At 1 March 2013					(7,636)
	Loss for the year					()

	At 28 February 2014					(12,006)


9	Related party transactions					2014		2013
£							£
	Anand Majithia
	Shareholder and director
	Loan to company
	[Amount due from (to) the related party]					56,060		59,767
	Derrick Barsenbach
	Shareholder and director
	Loan to company
	[Amount due from (to) the related party]					56,060		59,767

Registered number

06746710

A& D Newsagents Limited

Abbreviated Accounts

28 February 2014

A& D Newsagents Limited

Chartered Accountants' report to the board of directors on the preparation of the unaudited abbreviated accounts of A& D Newsagents Limited for the year ended 28 February 2014
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of A& D Newsagents Limited for the year ended 28 February 2014 which comprise of the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
Our work has been undertaken in accordance with AAF 2/10 as detailed at icaew.com/compilation.

A J Shah and Company
Chartered Accountants
8 Pinner View
Harrow
Middlesex
HA1 4QA

8 October 2014

A& D Newsagents Limited
Registered number:		06746710
Abbreviated Balance Sheet
as at 28 February 2014

Notes			2014			2013
£				£
Fixed assets
Intangible assets	2		36,899			38,699
Tangible assets	3		19,031			22,025
			55,930			60,724

Current assets
Stocks		37,450			36,105
Debtors		11,449			11,449
Cash at bank and in hand		4,475			8,992
		53,374			56,546

Creditors: amounts falling due within one year		(121,300)			(124,896)

Net current liabilities			(67,926)			(68,350)

Net liabilities			(11,996)			(7,626)

Capital and reserves
Called up share capital	4		10			10
Profit and loss account			(12,006)			(7,636)

Shareholders' funds			(11,996)			(7,626)

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.



Anand Majithia
Director
Approved by the board on 8 October 2014

A& D Newsagents Limited
Notes to the Abbreviated Accounts
for the year ended 28 February 2014

1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

	Turnover
	Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

	Depreciation
	Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

	Plant and machinery			20% straight line
	Motor vehicles			25% straight line

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

	Deferred taxation
	Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.

	Foreign currencies
	Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.

	Leasing and hire purchase commitments
	Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

	Pensions
	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.


2	Intangible fixed assets					£

	Cost
	At 1 March 2013					44,999
	At 28 February 2014					44,999

	Amortisation
	At 1 March 2013					6,300
	Provided during the year					1,800
	At 28 February 2014					8,100

	Net book value
	At 28 February 2014					36,899
	At 28 February 2013					38,699


3	Tangible fixed assets					£

	Cost
	At 1 March 2013					34,839
	Additions					412
	At 28 February 2014					35,251

	Depreciation
	At 1 March 2013					12,814
	Charge for the year					3,406
	At 28 February 2014					16,220

	Net book value
	At 28 February 2014					19,031
	At 28 February 2013					22,025


4	Share capital	Nominal		2014		2014		2013
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		-		10		10

Nominal			Number		Amount
value			£
	Shares issued during the period:
	Ordinary shares	£1 each		-		10