Registered Number 07158287
ACACIA GIFTS & JEWELLERY LTD
Abbreviated Accounts
28 February 2013
Notes | 2013 | 2012 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Current assets | |||
Stocks |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
( |
( |
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Net current assets (liabilities) |
( |
( |
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Total assets less current liabilities |
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( |
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Provisions for liabilities |
( |
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Total net assets (liabilities) |
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( |
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Capital and reserves | |||
Called up share capital | 3 |
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Profit and loss account |
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( |
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Shareholders' funds |
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( |
Approved by the Board on
And signed on their behalf by:
1Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
Fixture and fittings 25% on reducing balance
Other accounting policies
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.
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."
£ | |
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Cost | |
At 1 March 2012 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 28 February 2013 |
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Depreciation | |
At 1 March 2012 |
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Charge for the year |
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On disposals |
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At 28 February 2013 |
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Net book values | |
At 28 February 2013 | 427 |
At 29 February 2012 | 449 |