Audley Holdings Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03420021 (England and Wales)

Financial Statements

for the Year Ended 28 February 2019

for

AUDLEY HOLDINGS LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr P S MacLean

SECRETARY:

Mrs M MacLean

REGISTERED OFFICE:

42 Lytton Road

Barnet

Hertfordshire

EN5 5BY

REGISTERED NUMBER:

03420021 (England and Wales)

ACCOUNTANTS:

Jeff Lermer & Associates

Chartered Accountants

42 Lytton Road

Barnet

Hertfordshire

EN5 5BY

CURRENT ASSETS

Stocks

60,975

60,975

Debtors

178

222

Cash at bank

1,014

1,062

62,167

62,259

CREDITORS

Amounts falling due within one year

83,992

78,611

NET CURRENT LIABILITIES

(21,825

)

(16,352

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(21,825

)

(16,352

)

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

(22,025

)

(16,552

)

SHAREHOLDERS' FUNDS

(21,825

)

(16,352

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 28 February 2019 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 12 November 2019 and were signed by:

Mr P S MacLean - Director

1.	STATUTORY INFORMATION

Audley Holdings Limited is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the

Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.The company's

policy is to recognise profit or loss on sale of investments when substantively all the risks

and rewards in connection with the investment have been passed to the buyer.

Tangible fixed assets

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

Fixtures and fittings

-

20% on cost

Computer equipment

-

20% 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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income

Statement, except to the extent that it relates to items recognised in other comprehensive

income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that

have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not

reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in

periods different from those in which they are recognised in financial statements. Deferred

tax is measured using tax rates and laws that have been enacted or substantively enacted

by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it

is probable that they will be recovered against the reversal of deferred tax liabilities or other

future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 March 2018

and 28 February 2019

8,514

DEPRECIATION

At 1 March 2018

and 28 February 2019

8,514

NET BOOK VALUE

At 28 February 2019

-

At 28 February 2018

-

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date the director, Mr P MacLean was owed £82,423 (2018: £75,311) by

the company

6.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr P S MacLean.