Company Registration No. 07305232 (England and Wales)
ABRASIVES & POLISHING SOLUTIONS LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2013
ABRASIVES & POLISHING SOLUTIONS LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
ABRASIVES & POLISHING SOLUTIONS LTD
ABBREVIATED BALANCE SHEET (UNAUDITED)
- 1 -
2013
2012
Notes
£
£
£
£
Fixed assets
Tangible assets
2
203
200
Current assets
Stocks
14,000
12,900
Debtors
6,719
2,646
Cash at bank and in hand
312
441
21,031
15,987
Creditors: amounts falling due within one year
(23,803)
(15,657)
Net current (liabilities)/assets
(2,772)
330
Total assets less current liabilities
(2,569)
530
Capital and reserves
Called up share capital
3
1
1
Profit and loss account
(2,570)
529
Shareholders' funds
(2,569)
530
For the financial year ended 31 July 2013 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 for issue on 17 April 2014
Mr A Wilkes
Director
Company Registration No. 07305232
ABRASIVES & POLISHING SOLUTIONS LTD
NOTES TO THE UNAUDITED ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2013
- 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
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.3
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
25% p.a. straight line
Fixtures, fittings & equipment
25% p.a. straight line
2
Fixed assets
Tangible assets
£
Cost
At 1 August 2012
400
Additions
108
At 31 July 2013
508
Depreciation
At 1 August 2012
200
Charge for the year
105
At 31 July 2013
305
Net book value
At 31 July 2013
203
At 31 July 2012
200
3
Share capital
2013
2012
£
£
Allotted, called up and fully paid
1 ordinary share of £1 each
1
1