Registered Number 06527758

ACADEMY GLASS LIMITED

Abbreviated Accounts

30 May 2015

ACADEMY GLASS LIMITED Registered Number 06527758

Abbreviated Balance Sheet as at 30 May 2015

Notes 2015 2014
£ £
Fixed assets
Tangible assets 2 11,059 14,594
11,059 14,594
Current assets
Debtors 18,787 13,265
Cash at bank and in hand 4,450 7,829
23,237 21,094
Creditors: amounts falling due within one year (32,182) (29,780)
Net current assets (liabilities) (8,945) (8,686)
Total assets less current liabilities 2,114 5,908
Total net assets (liabilities) 2,114 5,908
Capital and reserves
Called up share capital 1 1
Profit and loss account 2,113 5,907
Shareholders' funds 2,114 5,908
  • For the year ending 30 May 2015 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 23 February 2016

And signed on their behalf by:
A T Bray, Director

ACADEMY GLASS LIMITED Registered Number 06527758

Notes to the Abbreviated Accounts for the period ended 30 May 2015

1Accounting Policies

Basis of measurement and preparation of accounts
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 policy
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

Tangible assets depreciation policy
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant & machinery - 20% reducing balance basis
Fixtures, fittings and equipment - 15% reducing balance basis
Motor vehicles -25% reducing balance basis

Other accounting policies
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

2Tangible fixed assets
£
Cost
At 31 May 2014 34,177
Additions 858
Disposals -
Revaluations -
Transfers -
At 30 May 2015 35,035
Depreciation
At 31 May 2014 19,583
Charge for the year 4,393
On disposals -
At 30 May 2015 23,976
Net book values
At 30 May 2015 11,059
At 30 May 2014 14,594