Alan Finney Antiques Ltd,Ltd - AccountsLtd - Accounts

ALAN FINNEY ANTIQUES LIMITED - Company Information

Print Friendly Version

Alan Finney Antiques Ltd

Registered Number:05035804

For the year ended 31 March 2020

England and Wales

Unaudited Financial Statements

For the year ended 31 March 2020

Alan Finney Antiques Ltd

Contents Page

Statement of Financial Position

2 to 4

Notes to the Financial Statements

Registered Number :

05035804

As at 31 March 2020

Alan Finney Antiques Ltd

Statement of Financial Position

2019

2020

Notes

Fixed assets

Property, plant and equipment

461

575

461

575

Current assets

Inventories

30,183

35,239

Trade and other receivables

920

1,786

1,933

Cash and cash equivalents

1,888

38,913

33,036

Trade and other payables: amounts falling due within one year

(33,785)

(36,852)

(749)

2,061

Net current assets

Total assets less current liabilities

2,522

(174)

(88)

(109)

Provisions for liabilities

2,434

Net assets/liabilities

(283)

Capital and reserves

Called up share capital

Retained earnings

2,431

(286)

2,434

(283)

Shareholders' funds

For the year ended 31 March 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 of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006

The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section 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.

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

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

Mr Alan Finney Director

These financial statements were approved and authorised for issue by the Board on 19 February 2021 and were signed by:

The notes form part of these financial statements

1 of 4

For the year ended 31 March 2020

Alan Finney Antiques Ltd

Notes to the Financial Statements

Statutory Information

Alan Finney Antiques Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration number

05035804.

Principal place of business:

3 John Street

Biddulph

Stoke on Trent

Staffordshire

ST8 6BB

Registered address:

Suite 1, Old Stables Court

6a Queen Street

Newcastle under Lyme

Staffordshire

ST5 1ED

The presentation currency is £ sterling.

1. Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard

102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial

statements have been prepared under the historical costs convention as modified by the revaluation of certain assets.

Revenue recognition

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Property, plant and equipment

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Plant and machinery

20% Reducing balance

Computer equipment

20% Reducing balance

Fixtures and fittings

Inventories

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

2 of 4

For the year ended 31 March 2020

Alan Finney Antiques Ltd

Notes to the Financial Statements Continued

2. Property, plant and equipment

Total

Computer

equipment

Fixtures and

fittings

Plant and

machinery

Cost or valuation

At 01 April 2019

6,274

505

5,619

150

At 31 March 2020

150

5,619

505

6,274

Provision for depreciation and impairment

At 01 April 2019

5,699

416

5,138

145

Charge for year

114

At 31 March 2020

5,813

433

5,234

146

At 31 March 2020

Net book value

385

461

At 31 March 2019

481

575

3. Inventories

2019

2020

Stocks

35,239

30,183

4. Trade and other receivables

2019

2020

Trade debtors

1,000

Other debtors

786

920

1,786

5. Trade and other payables: amounts falling due within one year

2019

2020

Trade creditors

19,395

12,820

Taxation and social security

437

Other creditors

17,020

20,965

36,852

33,785

3 of 4

For the year ended 31 March 2020

Alan Finney Antiques Ltd

Notes to the Financial Statements Continued

6. Related party transactions

Included within other creditors is the directors loan account balance of Mr & Mrs Finney totalling £11,652 (2018 - £14,815).

This loan is interest free and has no fixed date of repayment.

7. Average number of persons employed

During the year the average number of employees was 2 (2019 : 2)

4 of 4