Abbreviated Company Accounts - THE ASSET EXCHANGE LTD

THE ASSET EXCHANGE LTD - Company Information

08679485 THE ASSET EXCHANGE LTD 2014-12-31 false 2013-09-05 2014-12-31 true 08679485 2013-09-05 2014-12-31 08679485 2014-12-31 08679485 uk-gaap-cd-bus:Director1 2013-09-05 2014-12-31 08679485 uk-gaap-cd-bus:Director2 2013-09-05 2014-12-31 uk-gaap-cd-bus:Director3 2013-09-05 2014-12-31 uk-gaap-cd-bus:Director3 2014-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-09-05 2014-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-12-31 iso4217:GBP shares

Registered Number 08679485

THE ASSET EXCHANGE LTD

Abbreviated Accounts

31 December 2014

THE ASSET EXCHANGE LTD Registered Number 08679485

Abbreviated Balance Sheet as at 31 December 2014

	Notes	2014
		£
Called up share capital not paid		-
Fixed assets
Intangible assets		-
Tangible assets	2	1,363
Investments	3	200
		1,563
Current assets
Stocks		-
Debtors	4	538,740
Investments		-
Cash at bank and in hand		21,976
		560,716
Prepayments and accrued income		-
Creditors: amounts falling due within one year	5	(562,468)
Net current assets (liabilities)		(1,752)
Total assets less current liabilities		(189)
Creditors: amounts falling due after more than one year	5	0
Provisions for liabilities		0
Accruals and deferred income		0
Total net assets (liabilities)		(189)
Capital and reserves
Called up share capital	6	200
Share premium account		0
Revaluation reserve		0
Other reserves		0
Profit and loss account		(389)
Shareholders' funds		(189)

For the year ending 31 December 2014 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 4 June 2015

And signed on their behalf by:
D L Fryatt, Director

THE ASSET EXCHANGE LTD Registered Number 08679485

Notes to the Abbreviated Accounts for the period ended 31 December 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective January 2015.

Turnover policy
Turnover comprises income earned under hire purchase contracts together with commissions and fees earned for assistance in the provision of finance by other lenders.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their residual value, over their expected useful lives on the following bases:

Fixtures and fittings - 33% straight line
Office equipment - 33% straight line

2Tangible fixed assets

	£
Cost
Additions	1,505
Disposals	0
Revaluations	0
Transfers	0
At 31 December 2014	1,505
Depreciation
Charge for the year	142
On disposals	0
At 31 December 2014	142
Net book values
At 31 December 2014	1,363

3Fixed assets Investments
Shares in group undertakings

Subsidiary companies:

CLC Franchise Ltd
Holding - ordinary shares 100%
Capital and reserves - £(1460)
Loss for the period - £(1560)

CLC Franchise (Retail) Ltd
Holding - ordinary shares 100%
Capital and reserves - £(9165)
Loss for the period - £(9265)

4Debtors

	2014 £
Debtors include the following amounts due after more than one year	121,425

5Creditors

	2014 £
Secured Debts	230,000

6Called Up Share Capital
Allotted, called up and fully paid:

	2014 £
200 Ordinary shares of £1 each	200

During the period 200 ordinary shares of £1 each were allotted and fully paid for cash.

7Transactions with directors

Name of director receiving advance or credit:	P Parsons
Description of the transaction:	Loan
Balance at 5 September 2013:	-
Advances or credits made:	£ 59,000
Advances or credits repaid:	£ 0
Balance at 31 December 2014:	£ 59,000

The loan carries interest at 10% and is repayable in 12 months.