AKAAL CLOTHING LIMITED - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 06268720 (England and Wales)

Abbreviated Accounts for the Year Ended 31 July 2014

for

AKAAL CLOTHING LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Mr Gurdatar Singh Bance

Mr Naunihal Singh Bance

SECRETARY:

Mr Kultar Singh Bance

REGISTERED OFFICE:

104-106 Whitechapel Road

Whitechapel

London

E1 1JE

REGISTERED NUMBER:

06268720 (England and Wales)

ACCOUNTANTS:

SS & ASSOCIATES LTD

Chartered Certified Accountants

7 Gyllyngdune Gardens

Ilford

Essex

IG3 9HH

FIXED ASSETS

Tangible assets

2

3,346

4,562

CURRENT ASSETS

Stocks

130,852

76,664

Debtors

130,024

151,740

Cash at bank and in hand

58,366

108,407

319,242

336,811

CREDITORS

Amounts falling due within one year

196,638

214,120

NET CURRENT ASSETS

122,604

122,691

TOTAL ASSETS LESS CURRENT LIABILITIES

125,950

127,253

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

125,850

127,153

SHAREHOLDERS' FUNDS

125,950

127,253

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 26 April 2015 and were signed on its behalf by:

Mr Gurdatar Singh Bance - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

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

Improvements to property

-

10% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2013

and 31 July 2014

15,000

DEPRECIATION

At 1 August 2013

10,438

Charge for year

1,216

At 31 July 2014

11,654

NET BOOK VALUE

At 31 July 2014

3,346

At 31 July 2013

4,562

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.14

31.7.13

value:

£

£

100

Ordinary

1

100

100