Company Registration No. 02609753 (England and Wales)
A. & M. C. GLYN LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 6 MAY 2016
A. & M. C. GLYN LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
A. & M. C. GLYN LIMITED
ABBREVIATED BALANCE SHEET
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
11,010
661
Current assets
Stocks
20,000
35,000
Debtors
11,104
13,428
Cash at bank and in hand
1,523
6
32,627
48,434
Creditors: amounts falling due within one year
(34,077)
(25,733)
Net current liabilities/(assets)
(1,450)
22,701
Total assets less current liabilities
9,560
23,362
Provisions for liabilities
(650)
-
8,910
23,362
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
8,810
23,262
Shareholders' funds
8,910
23,362
For the financial year ended 6 May 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 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 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 for issue on 2 February 2017
Mr. A Glyn
Director
Company Registration No. 02609753
A. & M. C. GLYN LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 6 MAY 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 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:
Land and buildings Leasehold
Straight line over 5 years
Fixtures, fittings & equipment
25% reducing balance
1.5
Stock
Stock is valued at the lower of cost and net realisable value.
1.6
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
A. & M. C. GLYN LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 6 MAY 2016
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 7 May 2015
3,312
Additions
12,995
At 6 May 2016
16,307
Depreciation
At 7 May 2015
2,651
Charge for the year
2,646
At 6 May 2016
5,297
Net book value
At 6 May 2016
11,010
At 6 May 2015
661
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100