REGISTERED NUMBER: 06420830 (England and Wales)

Abbreviated Accounts

for the Year Ended 30 November 2016

for

Academy Schoolwear Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

A P Anderson

J R Anderson

SECRETARY:

A P Anderson

REGISTERED OFFICE:

2A Thornley Station Industrial Estate

Shotton Colliery

Durham

DH6 2QA

REGISTERED NUMBER:

06420830 (England and Wales)

ACCOUNTANTS:

Clive Owen LLP

Chartered Accountants

Kepier House

Belmont Business Park

Durham

DH1 1TW

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

-

750

-

750

CURRENT ASSETS

Stocks

31,860

49,619

Debtors

27,028

16,062

Cash at bank

6,058

11,885

64,946

77,566

CREDITORS

Amounts falling due within one year

72,282

86,815

NET CURRENT LIABILITIES

(7,336

)

(9,249

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(7,336

)

(8,499

)

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

(7,436

)

(8,599

)

SHAREHOLDERS' FUNDS

(7,336

)

(8,499

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 19 October 2017 and were signed on its behalf by:

A P Anderson - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements are prepared on the going concern basis which assumes that the company will continue

to trade. However, the validity of the going concern basis is dependent upon the company's ability to continue to

operate with the support of the directors and creditors of the company. If the company is unable to continue to

trade, adjustments would be required to reduce the value of assets to their recoverable amount, to provide for any

further liabilities that might arise and to reclassify fixed assets and long term liabilities as current assets and

liabilities.

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 January 2015).

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 2014, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

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

Motor vehicles

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

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

sheet date.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2015

and 30 November 2016

6,080

AMORTISATION

At 1 December 2015

and 30 November 2016

6,080

NET BOOK VALUE

At 30 November 2016

-

At 30 November 2015

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2015

and 30 November 2016

7,000

DEPRECIATION

At 1 December 2015

6,250

Charge for year

750

At 30 November 2016

7,000

NET BOOK VALUE

At 30 November 2016

-

At 30 November 2015

750

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

100

Ordinary

£1

100

100

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 November 2016 and

30 November 2015:

2016

2015

£

£

A P Anderson and J R Anderson

Balance outstanding at start of year

11,518

(787

)

Amounts advanced

7,132

12,305

Amounts repaid

(5,000

)

-

Balance outstanding at end of year

13,650

11,518