A & N KNITWEAR LIMITED

Company Registration Number:
05178483 (England and Wales)

Unaudited abridged accounts for the year ended 31 July 2018

Period of accounts

Start date: 01 August 2017

End date: 31 July 2018

A & N KNITWEAR LIMITED

Contents of the Financial Statements

for the Period Ended 31 July 2018

Balance sheet
Notes

A & N KNITWEAR LIMITED

Balance sheet

As at 31 July 2018


Notes
2018
2017


£
£
Fixed assets
Tangible assets: 3 16,965 19,958
Total fixed assets: 16,965 19,958
Current assets
Stocks: 75,150 95,000
Debtors:   60,947 40,761
Cash at bank and in hand: 1,905 1,871
Total current assets: 138,002 137,632
Creditors: amounts falling due within one year: 4 (154,505) (157,452)
Net current assets (liabilities): (16,503) (19,820)
Total assets less current liabilities: 462 138
Total net assets (liabilities): 462 138
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 362 38
Shareholders funds: 462 138

The notes form part of these financial statements

A & N KNITWEAR LIMITED

Balance sheet statements

For the year ending 31 July 2018 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 29 April 2019
and signed on behalf of the board by:

Name: Mr M Akram
Status: Director

The notes form part of these financial statements

A & N KNITWEAR LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2018

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Tangible fixed assets and depreciation policy

Depreciation is calculated so at to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:Plant & machinery - 15% reducing balanceEquipment - 15% reducing balance

Other accounting policies

Basis of PreparationThe financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.The financial statements are prepared in sterling, which is the functional currency of the entity.Going concernThe Companies liabilities exceeded its assets as at the year end. These financial statements have been prepared on a going concern basis on the basis that the company will continue to be supported by its creditors including the bank.

A & N KNITWEAR LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2018

2. Employees

2018 2017
Average number of employees during the period 8 11

A & N KNITWEAR LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2018

3. Tangible Assets

Total
Cost £
At 01 August 2017 58,736
At 31 July 2018 58,736
Depreciation
At 01 August 2017 38,778
Charge for year 2,993
At 31 July 2018 41,771
Net book value
At 31 July 2018 16,965
At 31 July 2017 19,958

A & N KNITWEAR LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2018

4. Creditors: amounts falling due within one year note

Bank loans and overdrafts - £2,129 (2018), £1,332 (2017). Trade creditors - £144,178 (2018), £150,104 (2017). Corporation tax - £346 (2018), £Nil (2017). Social security and other taxes - £3,351 (2018), £2,259 (2017). Other creditors - £4,501 (2018), £3,757 (2017). Total - £154,505 (2018), £157, 452 (2017).

A & N KNITWEAR LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2018

5. Loans to directors

Name of director receiving advance or credit: Mr M Akram
Description of the loan: Director's advances, credits and guarantees
£
Balance at 01 August 2017 1,921
Advances or credits made: 2,000
Advances or credits repaid: 1,277
Balance at 31 July 2018 2,644

A & N KNITWEAR LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2018

6. Related party transactions

The company was under the control of Mr M Akram throughout the current and previous year. Mr M Akram is the managing director and shareholder.The director's current account had a credit balance of £2,644 as at 31 July 2018 (2017 - £1,921).During the year to 31 July 2018 a dividend was voted to the company shareholders of £2,000 (2017 - £6,000).No other transactions with related parties were undertaken such as are required to be disclosed under FRS102.