Company Registration No. 03289533 (England and Wales)
NORTHERN DISTRIBUTION LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2014
NORTHERN DISTRIBUTION LTD
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
NORTHERN DISTRIBUTION LTD
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2014
31 December 2014
- 1 -
2014
2013
Notes
£
£
£
£
Fixed assets
Tangible assets
2
185,783
170,162
Current assets
Stocks
3,978
1,759
Debtors
145,801
113,933
Cash at bank and in hand
78,455
42,197
228,234
157,889
Creditors: amounts falling due within one year
3
(125,457)
(75,939)
Net current assets
102,777
81,950
Total assets less current liabilities
288,560
252,112
Creditors: amounts falling due after more than one year
4
(12,765)
(49,550)
Provisions for liabilities
(34,000)
(28,845)
241,795
173,717
Capital and reserves
Called up share capital
5
100
100
Profit and loss account
241,695
173,617
Shareholders' funds
241,795
173,717
NORTHERN DISTRIBUTION LTD
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2014
31 December 2014
- 2 -
For the financial year ended 31 December 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their 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 1 April 2015
T M Willans
Director
Company Registration No. 03289533
NORTHERN DISTRIBUTION LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2014
- 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 April 2008).
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.3
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
15% straight line
Motor vehicles
15% straight line
1.4
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.
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.5
Stock
Stock is valued at the lower of cost and net realisable value.
1.6
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
1.7
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
NORTHERN DISTRIBUTION LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2014
- 4 -
2
Fixed assets
Tangible assets
£
Cost
At 1 January 2014
242,610
Additions
61,551
Disposals
(28,478)
At 31 December 2014
275,683
Depreciation
At 1 January 2014
72,448
On disposals
(19,827)
Charge for the year
37,279
At 31 December 2014
89,900
Net book value
At 31 December 2014
185,783
At 31 December 2013
170,162
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £36,785 (2013 - £38,635).
4
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £12,765 (2013 - £49,550).
5
Share capital
2014
2013
£
£
Allotted, called up and fully paid
100 Ordinary of £1 each
100
100
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