Company Registration No. 05635766 (England and Wales)
A & R TEXTILES LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2016
A & R TEXTILES LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
A & R TEXTILES LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 NOVEMBER 2016
30 November 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
472
629
Current assets
Debtors
37,180
48,229
Cash at bank and in hand
7,038
1,647
44,218
49,876
Creditors: amounts falling due within one year
(44,555)
(48,619)
Net current liabilities/(assets)
(337)
1,257
Total assets less current liabilities
135
1,886
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
35
1,786
Shareholders' funds
135
1,886
For the financial year ended 30 November 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their 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 2 July 2017
R N Procter
A A Procter
Director
Director
Company Registration No. 05635766
A & R TEXTILES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 NOVEMBER 2016
- 2 -
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 ..
1.4
Tangible fixed assets and depreciation
Tangible fixed assets 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:
Computer equipment
25% reducing balance basis
2
Fixed assets
Tangible assets
£
Cost
At 1 December 2015 & at 30 November 2016
2,061
Depreciation
At 1 December 2015
1,432
Charge for the year
157
At 30 November 2016
1,589
Net book value
At 30 November 2016
472
At 30 November 2015
629
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100
A & R TEXTILES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2016
- 3 -
4
Related party relationships and transactions
Advances and credits
Advances and credits granted to the directors during the year are outlined in the table below:
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
Directors loan account
-
10,771
57,996
-
60,604
8,163
Directors loan account
-
36,568
51,805
-
60,841
27,532
47,339
109,801
-
121,445
35,695