A & M Wholesale Ltd

Registered number

SC283247

A & M Wholesale Ltd

Report and Accounts

30 April 2014

A & M Wholesale Ltd
Report and accounts
Contents




Page

Directors' report	2
Profit and loss account	5
Balance sheet	6
Notes to the accounts	7

A & M Wholesale Ltd
Registered number:		SC283247
Directors' Report

The directors present their report and accounts for the year ended 30 April 2014.

Principal activities
The company's principal activity during the year continued to be the sale of goods and services

Directors
The following persons served as directors during the year:

	Omran Akthar

Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.

This report was approved by the board on 22 August 2014 and signed on its behalf.





Omran Akthar
Director

A & M Wholesale Ltd
Profit and Loss Account
for the year ended 30 April 2014


Notes		2014		2013
£			£

Turnover		941,807		911,910

Cost of sales		(716,187)		(683,333)

Gross profit		225,620		228,577

Administrative expenses		(133,386)		(138,397)

Operating profit		92,234		90,180

Interest payable	2	-		(97)

Profit on ordinary activities before taxation		92,234		90,083

Tax on profit on ordinary activities		-		-

Profit for the financial year		92,234		90,083

A & M Wholesale Ltd
Balance Sheet
as at 30 April 2014

Notes			2014			2013
£				£
Fixed assets
Intangible assets	3		59,981			-
Tangible assets	4		49,479			49,479
			109,460			49,479

Current assets
Stocks		86,737			56,737
Debtors	5	73,641			63,641
Cash at bank and in hand		3,654			4,894
		164,032			125,272

Creditors: amounts falling due within one year	6	(20,548)			(14,041)

Net current assets			143,484			111,231

Net assets			252,944			160,710

Capital and reserves
Called up share capital	7		100			100
Profit and loss account	8		252,844			160,610

Shareholders' funds			252,944			160,710

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.




Omran Akthar
Director
Approved by the board on 22 August 2014

A & M Wholesale Ltd
Notes to the Accounts
for the year ended 30 April 2014

1	Accounting policies

	Basis of preparation
	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
	Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

	Depreciation
	Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

	Plant and machinery			0% straight line
	Motor vehicles			0% straight line

	Stocks
	Stock is valued at the lower of cost and net realisable value.

	Deferred taxation
	Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.

	Foreign currencies
	Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.

	Leasing and hire purchase commitments
	Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of the rental obligations 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. Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

	Pensions
	The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.


2	Interest payable					2014		2013
£							£

	Interest payable					-		97


3	Intangible fixed assets							£
	Goodwill:

	Cost
	Additions							59,981
	At 30 April 2014							59,981

	Amortisation
	At 30 April 2014							-

	Net book value
	At 30 April 2014							59,981

	Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.


4	Tangible fixed assets
				Plant and machinery etc		Motor vehicles		Total
£					£		£
	Cost
	At 1 May 2013			34,882		14,597		49,479
	At 30 April 2014			34,882		14,597		49,479

	Depreciation
	At 30 April 2014			-		-		-

	Net book value
	At 30 April 2014			34,882		14,597		49,479
	At 30 April 2013			34,882		14,597		49,479


5	Debtors					2014		2013
£							£

	Trade debtors					73,641		63,641


6	Creditors: amounts falling due within one year					2014		2013
£							£

	Trade creditors					14,987		8,480
	Other creditors					5,561		5,561
						20,548		14,041


7	Share capital	Nominal		2014		2014		2013
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		-		100		100


8	Profit and loss account					2014
£

	At 1 May 2013					160,610
	Profit for the year					92,234

	At 30 April 2014					252,844