Abbreviated Company Accounts - A.A. DYCKES (H.W.) LIMITED

A.A. DYCKES (H.W.) LIMITED Registered Number 03578613

Abbreviated Balance Sheet as at 31 May 2012

	Notes	2012	2011
		£	£
Fixed assets
Intangible assets	2	200	300
Tangible assets	3	2,472	3,120
		2,672	3,420
Current assets
Stocks		11,489	5,245
Debtors		50,286	66,032
Cash at bank and in hand		11,334	6,853
		73,109	78,130
Creditors: amounts falling due within one year		(130,158)	(80,148)
Net current assets (liabilities)		(57,049)	(2,018)
Total assets less current liabilities		(54,377)	1,402
Total net assets (liabilities)		(54,377)	1,402
Capital and reserves
Called up share capital	4	2	2
Profit and loss account		(54,379)	1,400
Shareholders' funds		(54,377)	1,402

For the year ending 31 May 2012 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 26 February 2013

And signed on their behalf by:
C Dyckes, Director

A.A. DYCKES (H.W.) LIMITED Registered Number 03578613

Notes to the Abbreviated Accounts for the period ended 31 May 2012

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods falling within the company's ordinary activities.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:

Plant and machinery - 20% reducing balance
Motor vehicles - 20% reducing balance

Intangible assets amortisation policy
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 5 years.

Other accounting policies
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

Stock and work in progress are valued at the lower of cost and net realisable value.

2Intangible fixed assets

	£
Cost
At 1 June 2011	500
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 May 2012	500
Amortisation
At 1 June 2011	200
Charge for the year	100
On disposals	-
At 31 May 2012	300
Net book values
At 31 May 2012	200
At 31 May 2011	300

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 5 years.

3Tangible fixed assets

	£
Cost
At 1 June 2011	5,200
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 May 2012	5,200
Depreciation
At 1 June 2011	2,080
Charge for the year	648
On disposals	-
At 31 May 2012	2,728
Net book values
At 31 May 2012	2,472
At 31 May 2011	3,120

4Called Up Share Capital
Allotted, called up and fully paid:

	2012 £	2011 £
2 Ordinary shares of £1 each	2	2

5Transactions with directors

Name of director receiving advance or credit:	C Dyckes
Description of the transaction:	Interest bearing loans
Balance at 1 June 2011:	£ 16,985
Advances or credits made:	£ 25,119
Advances or credits repaid:	£ 16,985
Balance at 31 May 2012:	£ 25,119

The company has granted draw down facility to the director on the current account for a maximum
amount of £50,000 at any one point in time. The principal terms of the draw down facilities are that the company will charge interests at the end of each financial year on the overdrawn balances applying HM Revenue & Customs official rate of interest on beneficial loans in force at the end of the relevant year. The company may vary the terms of the draw down facilities from time to time giving 30 days notice to the director except for any reduction of the drawdown facility or complete withdrawals of the facilities will require the company to provide a minimum of 91 days notice and a maximum of 182 days. The company reserves the rights to apply any salaries, bonuses, dividends, expenses or any such amounts of whatever nature due to the director by the company as repayment of the outstanding balances on the current account. During the year, the director paid interests of £825 in respect of th overdrawn loan account (£468 during 2011). The company paid dividends of £0 to the director (£10,000 during 2011).