A.m.b Classics Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 08289787 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 NOVEMBER 2014

FOR

A.M.B CLASSICS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

A M Bartlett

N G Bartlett

SECRETARY:

REGISTERED OFFICE:

7 Vicarage Close

Great Saling

Braintree

Essex

CM7 5DU

REGISTERED NUMBER:

08289787 (England and Wales)

ACCOUNTANTS:

Baker Chapman & Bussey

Chartered Accountants

3 North Hill

Colchester

Essex

CO1 1DZ

FIXED ASSETS

Tangible assets

2

25,188

241

CURRENT ASSETS

Stocks

49,482

48,224

Debtors

20,257

-

Cash at bank

-

67,700

69,739

115,924

CREDITORS

Amounts falling due within one year

41,604

91,985

NET CURRENT ASSETS

28,135

23,939

TOTAL ASSETS LESS CURRENT LIABILITIES

53,323

24,180

CREDITORS

Amounts falling due after more than one year

22,061

-

NET ASSETS

31,262

24,180

CAPITAL AND RESERVES

Called up share capital

3

1

1

Profit and loss account

31,261

24,179

SHAREHOLDERS' FUNDS

31,262

24,180

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 16 June 2015 and were signed on its behalf by:

A M Bartlett - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention.

Financial reporting standard number 1

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

33% on cost and 25% on cost

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those

held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance

leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2013

359

Additions

29,392

At 30 November 2014

29,751

DEPRECIATION

At 1 December 2013

118

Charge for year

4,445

At 30 November 2014

4,563

NET BOOK VALUE

At 30 November 2014

25,188

At 30 November 2013

241

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

1

Ordinary

£1

1

1

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 30 November 2014 and the

period ended 30 November 2013:

2014

2013

£

£

A M Bartlett

Balance outstanding at start of year

(78,407

)

-

Amounts advanced

121,049

224,554

Amounts repaid

(23,655

)

(302,961

)

Balance outstanding at end of year

18,987

(78,407

)

The Directors loan account was cleared by a dividend paid on 31 March 2015.