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Registered number: 06957070
ADDITIVE LIMITED T/A DARLING
UNAUDITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2014
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ADDITIVE LIMITED T/A DARLING
REGISTERED NUMBER: 06957070
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ABBREVIATED BALANCE SHEET
AS AT 31 DECEMBER 2014
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CREDITORS: amounts falling due within one year
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TOTAL ASSETS LESS CURRENT LIABILITIES
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CREDITORS: amounts falling due after more than one year
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PROVISIONS FOR LIABILITIES
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Page 1
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ADDITIVE LIMITED T/A DARLING
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ABBREVIATED BALANCE SHEET (continued)
AS AT 31 DECEMBER 2014
The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question 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 for preparing financial statements which give a true and fair view of the state of affairs of the company as at 31 December 2014 and of its profit for the year in accordance with the requirements of sections 394 and 395 of the Act 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, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf by:
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Francis Heffie Ramsey Moraes
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Page 2
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ADDITIVE LIMITED T/A DARLING
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NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2014
1.ACCOUNTING POLICIES
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Basis of preparation of financial statements
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The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
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Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.
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Intangible fixed assets and amortisation
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Trade Marks are valued at cost less accumulated amortisation. Amortisation is calculated to write off the cost in equal annual installments over five years.
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Tangible fixed assets and depreciation
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Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
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Short Term Leasehold Property
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Over period of lease starting January 2011
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Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
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Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation.
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A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse.
Deferred tax assets and liabilities are not discounted.
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Page 3
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ADDITIVE LIMITED T/A DARLING
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NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2014
1.ACCOUNTING POLICIES (continued)
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Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date.
Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.
Exchange gains and losses are recognised in the Profit and loss account.
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The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.
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2.INTANGIBLE FIXED ASSETS
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At 1 January 2014 and 31 December 2014
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Page 4
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ADDITIVE LIMITED T/A DARLING
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NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2014
3.TANGIBLE FIXED ASSETS
Page 5
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ADDITIVE LIMITED T/A DARLING
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NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2014
4.CREDITORS:
Amounts falling due within one year
Debt factoring facilities are secured by a fixed and floating charge on all present and future assets of the company.
5.SHARE CAPITAL
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Allotted, called up and fully paid
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1,000 Deferred shares of £0.10 each
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100 Convertible Ordinary A shares of £0.10 each
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100 Deferred Convertible B shares of £0.10 each
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600 X shares of £0.10 each
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300 Y shares of £0.10 each
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Page 6
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