Company Registration No. 08177043 (England and Wales)
ANAX RETAIL LIMITED
Unaudited accounts
for the year ended 31 August 2020
ANAX RETAIL LIMITED
Statement of financial position
as at 31 August 2020
Intangible assets
1,408
1,719
Cash at bank and in hand
10
-
Creditors: amounts falling due within one year
(59,576)
(50,444)
Net current liabilities
(24,897)
(21,336)
Net liabilities
(23,489)
(19,617)
Called up share capital
10
10
Profit and loss account
(23,499)
(19,627)
Shareholders' funds
(23,489)
(19,617)
For the year ending 31 August 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 19 May 2021 and were signed on its behalf by
Jordan John William GREGSON
Director
Company Registration No. 08177043
ANAX RETAIL LIMITED
Notes to the Accounts
for the year ended 31 August 2020
ANAX RETAIL LIMITED is a private company, limited by shares, registered in England and Wales, registration number 08177043. The registered office is 1 Lower Cottages, Manley Lane, Manley, Frodsham, WA6 0PD , 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 as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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% on Cost
Fixtures & fittings
20% on Cost
Computer equipment
25% on Cost
The intangible fixed asset, being the cost to acquire a trademark, is being amortised over its estimated useful life of ten years.
In view of the net liabilities reported in the balance sheet at the year end, the director has considered the company?s going concern and its ability to meet its liabilities as they fall due. The director expects the company to return to profitability, and in addition is satisfied that sufficient funding will be available to meet liabilities as they fall due. Accordingly the financial statements are prepared on the going concern basis.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
ANAX RETAIL LIMITED
Notes to the Accounts
for the year ended 31 August 2020
4
Intangible fixed assets
Other
Other increase/(decrease)
(1)
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 September 2019
2,389
1,360
6,730
10,479
At 31 August 2020
2,389
1,360
6,730
10,479
At 1 September 2019
2,389
1,360
6,730
10,479
At 31 August 2020
2,389
1,360
6,730
10,479
6
Debtors: amounts falling due within one year
2020
2019
Accrued income and prepayments
6,000
-
7
Creditors: amounts falling due within one year
2020
2019
Bank loans and overdrafts
30,000
13,500
Trade creditors
5,719
6,211
Taxes and social security
-
(287)
Other creditors
10,105
12,694
Loans from directors
12,021
17,626
ANAX RETAIL LIMITED
Notes to the Accounts
for the year ended 31 August 2020
8
Transactions with related parties
A balance of £12,021 (2019 - £17,626) was owed by the company to JJ Gregson, a director of the company. This amount is included within creditors.
A balance of £9,787 (2019 - £12,107) was owed by the company to MJ Basso. This amount is included within creditors.
9
Average number of employees
During the year the average number of employees was 1 (2019: 1).
