Company Registration No. 03131986 (England and Wales)
A & A BUSINESS SUPPLIES LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2016
A & A BUSINESS SUPPLIES LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
A & A BUSINESS SUPPLIES LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 JANUARY 2016
31 January 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
120,080
137,234
Tangible assets
2
51,741
61,340
171,821
198,574
Current assets
Stocks
17,214
9,509
Debtors
827,480
555,234
Cash at bank and in hand
-
115,928
844,694
680,671
Creditors: amounts falling due within one year
(923,150)
(805,959)
Net current liabilities
(78,456)
(125,288)
Total assets less current liabilities
93,365
73,286
Creditors: amounts falling due after more than one year
-
(738)
Provisions for liabilities
(8,264)
(9,992)
85,101
62,556
Capital and reserves
Called up share capital
3
7,537
7,537
Other reserves
728
728
Profit and loss account
76,836
54,291
Shareholders' funds
85,101
62,556
A & A BUSINESS SUPPLIES LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2016
31 January 2016
- 2 -
For the financial year ended 31 January 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their 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 3 October 2016
Mr S Taylor
Director
Company Registration No. 03131986
A & A BUSINESS SUPPLIES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2016
- 3 -
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 net invoiced sales of goods, excluding value added tax.
1.4
Goodwill
The Goodwill, being the amount paid in connection with the acquisition of a business in 2005, has been fully amortised. The Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated remaining useful life of ten years.
The Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated remaining useful life of ten years.
1.5
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:
Plant and machinery
33% on reducing balance
Fixtures, fittings & equipment
15% on reducing balance
Motor vehicles
25% on reducing balance
1.6
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
1.7
Stock
Stock is valued at the lower of cost and net realisable value.
1.8
Pensions
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.
1.9
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
A & A BUSINESS SUPPLIES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2016
- 4 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 February 2015
379,288
206,952
586,240
Additions
-
1,829
1,829
At 31 January 2016
379,288
208,781
588,069
Depreciation
At 1 February 2015
242,054
145,612
387,666
Charge for the year
17,154
11,428
28,582
At 31 January 2016
259,208
157,040
416,248
Net book value
At 31 January 2016
120,080
51,741
171,821
At 31 January 2015
137,234
61,340
198,574
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
7,487 Ordinary of £1 each
7,487
7,487
50 Ordinary A of £1 each
50
50
7,537
7,537
4
Transactions with directors
Advances to directors: The company made advances to the directors totalling £97,218 (2015 £12,589). Amounts repaid by the directors totalled £Nil (2015: £Nil).
The company made advances to the directors totalling £97,218 (2015 £12,589).
Amounts repaid by the directors totalled £Nil (2015: £Nil).