AFRICAN SPECIALITY PRODUCTS LIMITED Accounts filed on 31-07-2014
AFRICAN SPECIALITY PRODUCTS LIMITED Accounts filed on 31-07-2014
AFRICAN SPECIALITY PRODUCTS LIMITED
Company Registration Number:
04044245 (England and Wales)
Abbreviated (Unaudited) Accounts
Period of accounts
Start date: 01st August 2013
End date: 31st July 2014
SUBMITTED
AFRICAN SPECIALITY PRODUCTS LIMITED
Company Information
for the Period Ended
31st July 2014
Director: |
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Company secretary: |
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Registered office: |
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Staffordshire | ||
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Company Registration Number: |
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AFRICAN SPECIALITY PRODUCTS LIMITED
Abbreviated Balance sheet
As at 31st July 2014
Notes | 2014 £ |
2013 £ |
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Fixed assets | |||
Intangible assets: | 2 |
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Total fixed assets: |
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Current assets | |||
Stocks: |
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Debtors: |
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Cash at bank and in hand: |
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Total current assets: |
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Creditors | |||
Creditors: amounts falling due within one year |
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Net current assets (liabilities): |
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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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Provision for liabilities: |
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0 | |
Total net assets (liabilities): |
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The notes form part of these financial statements
AFRICAN SPECIALITY PRODUCTS LIMITED
Abbreviated Balance sheet
As at 31st July 2014
continued
Notes | 2014 £ |
2013 £ |
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Capital and reserves | |||
Called up share capital: | 3 |
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Revaluation reserve: |
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Profit and Loss account: |
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Total shareholders funds: |
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The financial statements were approved by the Board of Directors on
SIGNED ON BEHALF OF THE BOARD BY:
Name: Jeremy Lefroy
Status: Director
The notes form part of these financial statements
AFRICAN SPECIALITY PRODUCTS LIMITED
Notes to the Abbreviated Accounts
for the Period Ended
31st July 2014
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1. Accounting policies
Basis of measurement and preparation of accounts
The financial statements have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) under the historical cost convention. Turnover policy
Turnover shown in the profit and loss account represents revenue earned during the year, exclusive of VAT,. Tangible fixed assets depreciation policy
Depreciation has been provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life. Office equipment and software 50% straight line Office furniture 20% straight line Valuation information and policy
Stocks and work in progress have been valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. Other accounting policies
Taxation policy Corporation tax payable is provided on taxable profits at the current rate. Deferred taxation policy Deferred taxation is recognised in respect of all timing differences that have originated but not been reversed at balance sheet date. Timing differences are differences between the taxable profits and the results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements. A net deferred tax asset is regarded as recoverable and therefore recognised only when it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of underlying timing differences can be deducted. Policy on foreign currencies Transactions in foreign currencies are recorded at the average rate of exchange for the month in which the transaction occurred or, if hedged, at the forward contract rate. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are reported at the rates of exchange prevailing at that date or, if appropriate, at the forward contract rate. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are reported at the rates of exchange prevailing at that date or, if appropriate, at the forward contract rate. Any gain or loss arising from a change in exchange rates subsequent to the date of the transaction is included as an exchange gain or loss in the profit and loss account. Policy on investments Fixed asset investments are shown at cost less provision for impairment. Policy on pension costs The company does not operate a pension scheme.
AFRICAN SPECIALITY PRODUCTS LIMITED
Notes to the Abbreviated Accounts
for the Period Ended
31st July 2014
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2. Intangible assets
Total Cost £ At 01st August 2013: 80,142 Additions: 11,960 Disposals: 0 92,102 Amortisation £ At 01st August 2013: 0 Provided during the period: 0 On disposals: 0 Other Adjustments: 0 At 31st July 2014: 0 Net book value £ At 31st July 2014: 92,102 At 31st July 2013: 80,142