A & N RESOURCES (UK) LTD

Company Registration Number:
05968290 (England and Wales)

Unaudited abridged accounts for the year ended 31 October 2017

Period of accounts

Start date: 01 November 2016

End date: 31 October 2017

A & N RESOURCES (UK) LTD

Contents of the Financial Statements

for the Period Ended 31 October 2017

Balance sheet
Notes

A & N RESOURCES (UK) LTD

Balance sheet

As at 31 October 2017


Notes

2017

2016


£

£
Fixed assets
Tangible assets: 3 3,485 4,647
Investments: 4 204,585 175,373
Total fixed assets: 208,070 180,020
Current assets
Stocks: 184,463 150,154
Debtors: 5 3,380,746 4,008,863
Cash at bank and in hand: 1,370,304 1,288,125
Total current assets: 4,935,513 5,447,142
Creditors: amounts falling due within one year: 6 (5,128,640) (5,597,911)
Net current assets (liabilities): (193,127) (150,769)
Total assets less current liabilities: 14,943 29,251
Total net assets (liabilities): 14,943 29,251
Capital and reserves
Called up share capital: 2 2
Profit and loss account: 14,941 29,249
Shareholders funds: 14,943 29,251

The notes form part of these financial statements

A & N RESOURCES (UK) LTD

Balance sheet statements

For the year ending 31 October 2017 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 31 July 2018
and signed on behalf of the board by:

Name: I Gasiunas
Status: Director

The notes form part of these financial statements

A & N RESOURCES (UK) LTD

Notes to the Financial Statements

for the Period Ended 31 October 2017

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Tangible fixed assets and depreciation policy

Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:Plant and Machinery 25% reducing balance

Other accounting policies

InvestmentsInvestments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.StockStocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.DebtorsShort term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.CreditorsShort term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.TaxationA current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.ProvisionsProvisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.Foreign currency translationTransactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

A & N RESOURCES (UK) LTD

Notes to the Financial Statements

for the Period Ended 31 October 2017

2. Employees

2017 2016
Average number of employees during the period 1 1

A & N RESOURCES (UK) LTD

Notes to the Financial Statements

for the Period Ended 31 October 2017

3. Tangible Assets

Total
Cost £
At 01 November 2016 19,613
At 31 October 2017 19,613
Depreciation
At 01 November 2016 14,966
Charge for year 1,162
At 31 October 2017 16,128
Net book value
At 31 October 2017 3,485
At 31 October 2016 4,647

A & N RESOURCES (UK) LTD

Notes to the Financial Statements

for the Period Ended 31 October 2017

4. Fixed investments

Investments At 1 November 2016 £175,373Additions £29,212At 31 October 2017 £204,585Investments include quoted shares and loans to private companies.

A & N RESOURCES (UK) LTD

Notes to the Financial Statements

for the Period Ended 31 October 2017

5. Debtors

Trade debtors 2017 £1,450,177 2016 £813,193

A & N RESOURCES (UK) LTD

Notes to the Financial Statements

for the Period Ended 31 October 2017

6. Creditors: amounts falling due within one year note

Trade creditors 2017 £1,611,494 2016 £2,153,623Taxation and social security £3,256,057 £2,671,967Other creditors £261,089 £772,321