Company Registration No. 05685378 (England and Wales)
AARDVARK APPLIANCES LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
AARDVARK APPLIANCES LTD
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
AARDVARK APPLIANCES LTD
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
17,000
18,700
Tangible assets
2
28,435
11,130
45,435
29,830
Current assets
Stocks
59,048
80,462
Debtors
112,727
113,481
Cash at bank and in hand
100
100
171,875
194,043
Creditors: amounts falling due within one year
(179,444)
(184,633)
Net current liabilities/(assets)
(7,569)
9,410
Total assets less current liabilities
37,866
39,240
Creditors: amounts falling due after more than one year
(25,421)
(24,239)
12,445
15,001
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
12,345
14,901
Shareholders' funds
12,445
15,001
AARDVARK APPLIANCES LTD
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2016
31 March 2016
- 2 -
For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 21 March 2017
Mr S J McNee
Director
Company Registration No. 05685378
AARDVARK APPLIANCES LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Turnover
Turnover represents amounts receivable for goods net of VAT and trade discounts.
1.3
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 20 years. of 20 years.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
20% reducing balance
Fixtures, fittings & equipment
20% reducing balance
Motor vehicles
25% reducing balance
1.5
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 April 2015
34,000
45,123
79,123
Additions
-
26,667
26,667
At 31 March 2016
34,000
71,790
105,790
Depreciation
At 1 April 2015
15,300
34,202
49,502
Charge for the year
1,700
9,153
10,853
At 31 March 2016
17,000
43,355
60,355
Net book value
At 31 March 2016
17,000
28,435
45,435
At 31 March 2015
18,700
11,130
29,830
AARDVARK APPLIANCES LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 4 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary of £1 each
100
100