Academy Painting & Decorating Limited - Limited company - abbreviated

REGISTERED NUMBER: 04146830

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30TH APRIL 2013

FOR

ACADEMY PAINTING & DECORATING LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

Report of the Accountants

5

DIRECTOR:

M J Butler

SECRETARY:

M J Butler

REGISTERED OFFICE:

The Dairy

Bush Street

Darlaston

West Midlands

WS10 8JY

REGISTERED NUMBER:

04146830

ACCOUNTANTS:

French Ludlam & Co Limited

Mountfield House

661 High Street

Kingswinford

West Midlands

DY6 8AL

FIXED ASSETS

Intangible assets

2

30,000

33,000

Tangible assets

3

4,668

1,059

34,668

34,059

CURRENT ASSETS

Debtors

60,268

55,414

CREDITORS

Amounts falling due within one year

4

82,790

66,762

NET CURRENT LIABILITIES

(22,522

)

(11,348

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

12,146

22,711

CAPITAL AND RESERVES

Called up share capital

5

2

Profit and loss account

12,144

22,709

SHAREHOLDERS' FUNDS

12,146

22,711

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2013 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end
of each financial year and of its profit or loss for each financial year in accordance with the requirements of
Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to
financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 31st January 2014 and were signed by:

M J Butler - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

20% on reducing balance

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1st May 2012

and 30th April 2013

60,000

AMORTISATION

At 1st May 2012

27,000

Amortisation for year

3,000

At 30th April 2013

30,000

NET BOOK VALUE

At 30th April 2013

30,000

At 30th April 2012

33,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st May 2012

8,630

Additions

4,845

At 30th April 2013

13,475

DEPRECIATION

At 1st May 2012

7,571

Charge for year

1,236

At 30th April 2013

8,807

NET BOOK VALUE

At 30th April 2013

4,668

At 30th April 2012

1,059

4.

CREDITORS

Creditors include an amount of £ 22,267 (2012 - £ 8,816 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2013

2012

value:

£

2

Ordinary

1

2

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to four)

have been prepared.

As described on the balance sheet you are responsible for the preparation of the financial statements for the year ended

30th April 2013 set out on pages three to seven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to

fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

French Ludlam & Co Limited

Mountfield House

661 High Street

Kingswinford

West Midlands

DY6 8AL

31st January 2014