Company Registration No. 03143324 (England and Wales)
Accept Properties Ltd.
Unaudited accounts
for the year ended 31 January 2020
Accept Properties Ltd.
Unaudited accounts
Contents
Accept Properties Ltd.
Company Information
for the year ended 31 January 2020
Director
Russell Anthony Shaw
Company Number
03143324 (England and Wales)
Registered Office
PRIMROSE FARM
CROSSLEY LANE
MIRFIELD
WEST YORKSHIRE
WF14 0NR
ENGLAND
Accept Properties Ltd.
Statement of financial position
as at 31 January 2020
Inventories
974,557
1,094,467
Cash at bank and in hand
3,828
6,355
Creditors: amounts falling due within one year
(437,375)
(441,408)
Net current assets
586,077
706,591
Total assets less current liabilities
586,251
706,967
Creditors: amounts falling due after more than one year
(248,000)
(356,000)
Provisions for liabilities
Net assets
338,251
350,885
Called up share capital
1,000
1,000
Profit and loss account
337,251
349,885
Shareholders' funds
338,251
350,885
For the year ending 31 January 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 4 August 2020 and were signed on its behalf by
Russell Anthony Shaw
Director
Company Registration No. 03143324
Accept Properties Ltd.
Notes to the Accounts
for the year ended 31 January 2020
Accept Properties Ltd. is a private company, limited by shares, registered in England and Wales, registration number 03143324. The registered office is PRIMROSE FARM, CROSSLEY LANE, MIRFIELD, WEST YORKSHIRE, WF14 0NR, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% straight line
Computer equipment
25% straight line
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Accept Properties Ltd.
Notes to the Accounts
for the year ended 31 January 2020
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 February 2019
2,745
7,444
10,189
At 31 January 2020
2,745
7,444
10,189
At 1 February 2019
2,745
7,068
9,813
Charge for the year
-
202
202
At 31 January 2020
2,745
7,270
10,015
At 31 January 2020
-
174
174
At 31 January 2019
-
376
376
Finished goods
974,557
1,094,467
Trade debtors
43,237
44,047
Accrued income and prepayments
1,242
3,130
Amounts due after more than one year
40,777
41,647
7
Creditors: amounts falling due within one year
2020
2019
Taxes and social security
396
940
Other creditors
2,905
3,755
Loans from directors
422,911
419,610
8
Creditors: amounts falling due after more than one year
2020
2019
Other creditors
248,000
356,000
All of the funds due after one year are due to the director, R A Shaw. Interest is charged at a commercial rate.
Accept Properties Ltd.
Notes to the Accounts
for the year ended 31 January 2020
9
Deferred taxation
2020
2019
Accelerated capital allowances
-
82
Provision at start of year
82
153
Credited to the profit and loss account
(82)
(71)
Provision at end of year
-
82
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000
1,000
11
Average number of employees
During the year the average number of employees was 3 (2019: 3).
