AAML Limited - Period Ending 2014-06-30

Howsons
Chartered Accountants
18-20 Moorland Road
Burslem
Stoke-on-Trent
Staffordshire
ST6 1DW

AAML Limited
Contents

Abbreviated Balance Sheet

Notes to the Abbreviated Accounts

2 to 3

AAML Limited
(Registration number: 6933909)
Abbreviated Balance Sheet at 30 June 2014

	Note	2014 £	2013 £
Fixed assets
Tangible fixed assets		26,506	30,715
Current assets
Stocks		60,000	-
Debtors		19,634	56,043
Cash at bank and in hand		64,388	21,320
		144,022	77,363
Creditors: Amounts falling due within one year		(165,911)	(104,315)
Net current liabilities		(21,889)	(26,952)
Net assets		4,617	3,763
Capital and reserves
Called up share capital	3	100	100
Profit and loss account		4,517	3,663
Shareholders' funds		4,617	3,763

For the year ending 30 June 2014 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 2 March 2015 and signed on its behalf by:

.........................................
AP Morris
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
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AAML Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

In respect of long term contracts and contracts for ongoing services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long term contracts and contracts for ongoing services is recognised by reference to the stage of completion.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office Equipment	20% reducing balance basis
Equipment	15% reducing balance basis

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Hire purchase and leasing

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

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AAML Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2014
......... continued

2	Fixed assets

	Tangible assets £	Total £
Cost
At 1 July 2013	40,942	40,942
Additions	12,274	12,274
Disposals	(10,250)	(10,250)
At 30 June 2014	42,966	42,966
Depreciation
At 1 July 2013	10,227	10,227
Charge for the year	6,233	6,233
At 30 June 2014	16,460	16,460
Net book value
At 30 June 2014	26,506	26,506
At 30 June 2013	30,715	30,715

3	Share capital

Allotted, called up and fully paid shares

	2014			2013
		No.	£		No.	£
Ordinary of £1 each		100	100		100	100

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