Company Registration No. 04617268 (England and Wales)
AAI WORLDWIDE LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
AAI WORLDWIDE LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
AAI WORLDWIDE LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
457
538
Current assets
Debtors
96,792
66,819
96,792
66,819
Creditors: amounts falling due within one year
3
(96,719)
(66,955)
Net current assets/(liabilities)
73
(136)
Total assets less current liabilities
530
402
Capital and reserves
Called up share capital
4
100
2
Profit and loss account
430
400
Shareholders' funds
530
402
For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his 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 and authorised for issue on 15 December 2016
P A Tuck
Director
Company Registration No. 04617268
AAI WORLDWIDE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 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 April 2008).
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 and trade discounts.
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:
Fixtures, fittings & equipment
15% Reducing Balance
1.5
Revenue recognition
Revenue from Export Shipping is recognised on the delivery of the goods.
5
Tangible fixed assets
Fixtures, fittings & equipment
£
Cost
At 1 April 2015 & at 31 March 2016
2,902
Depreciation
At 1 April 2015
2,364
Charge for the year
81
At 31 March 2016
2,445
Net book value
At 31 March 2016
457
At 31 March 2015
538
3
Creditors: amounts falling due within one year
The bank overdraft of £11,537 (2015: £8,536) is secured by a fixed and floating charge over the assets of the company.
AAI WORLDWIDE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
4
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
2