Adam & Co. (Textiles) Limited - Limited company - abbreviated

REGISTERED NUMBER: 01445080 (England and Wales)

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31ST AUGUST 2014

FOR

ADAM & CO. (TEXTILES) LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr. S A Adam

Mr. N A Adam

Mr I A Adam

Mr. A A Adam

SECRETARY:

Mr I A Adam

REGISTERED OFFICE:

109 Coleman Road

Leicester

LE5 4LE

BUSINESS ADDRESS:

52 London Street

Leicester

Leicestershire

LE5 3RU

REGISTERED NUMBER:

01445080 (England and Wales)

ACCOUNTANTS:

Watergates Ltd

109 Coleman Road

Leicester

LE5 4LE

FIXED ASSETS

Tangible assets

2

272,747

265,151

Investments

3

9,179

281,926

274,330

CURRENT ASSETS

Stocks

104,335

101,830

Debtors

338,455

664,868

Investments

1,009,758

1,102,352

Cash at bank and in hand

35,868

19,398

1,488,416

1,888,448

CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR

(1,131,979

)

(1,487,958

)

NET CURRENT ASSETS

356,437

400,490

TOTAL ASSETS LESS CURRENT
LIABILITIES

638,363

674,820

PROVISIONS FOR LIABILITIES

(49,352

)

-

NET ASSETS

589,011

674,820

CAPITAL AND RESERVES

Called up share capital

4

80

Capital redemption reserve

20

Profit and loss account

588,911

674,720

SHAREHOLDERS' FUNDS

589,011

674,820

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2014.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31st August 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the Company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the Company as at
the end of each financial year and of its profit or loss for each financial year in accordance with the
requirements of Sections 394 and 395 and which otherwise comply with the requirements of the
Companies Act 2006 relating to financial statements, so far as applicable to the Company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 29th May 2015 and were signed on its
behalf by:

Mr I A Adam - Director

1.	ACCOUNTING POLICIES

ACCOUNTING CONVENTION

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective April 2008).

TURNOVER

Turnover represents net invoiced sales of goods, excluding value added tax.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Improvements to property

-

5% on cost

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

STOCKS

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

HIRE PURCHASE AND LEASING COMMITMENTS

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis

over the period of the lease.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to the profit and loss account in the period to which they

relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st September 2013

1,789,675

Additions

54,869

At 31st August 2014

1,844,544

DEPRECIATION

At 1st September 2013

1,524,524

Charge for year

47,273

At 31st August 2014

1,571,797

NET BOOK VALUE

At 31st August 2014

272,747

At 31st August 2013

265,151

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1st September 2013

and 31st August 2014

9,179

NET BOOK VALUE

At 31st August 2014

9,179

At 31st August 2013

9,179

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/8/14

31/8/13

value:

£

80

Ordinary

1

80