Abbreviated Company Accounts - AFRICA BOOK CENTRE LIMITED

Abbreviated Company Accounts - AFRICA BOOK CENTRE LIMITED


Registered Number 02365309

AFRICA BOOK CENTRE LIMITED

Abbreviated Accounts

31 March 2014

AFRICA BOOK CENTRE LIMITED Registered Number 02365309

Abbreviated Balance Sheet as at 31 March 2014

Notes 2014 2013
£ £
Called up share capital not paid - -
Fixed assets
Intangible assets - -
Tangible assets 2 333 500
Investments - -
333 500
Current assets
Stocks 2,513 2,000
Debtors 811 1,580
Investments - -
Cash at bank and in hand 1,699 -
5,023 3,580
Prepayments and accrued income - -
Creditors: amounts falling due within one year (15,125) (20,106)
Net current assets (liabilities) (10,102) (16,526)
Total assets less current liabilities (9,769) (16,026)
Creditors: amounts falling due after more than one year 0 0
Provisions for liabilities 0 0
Accruals and deferred income 0 0
Total net assets (liabilities) (9,769) (16,026)
Capital and reserves
Called up share capital 3 2,500 2,500
Share premium account 0 0
Revaluation reserve 0 500
Other reserves 0 0
Profit and loss account (12,269) (19,026)
Shareholders' funds (9,769) (16,026)
  • For the year ending 31 March 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 30 December 2014

And signed on their behalf by:
George Milner, Director

AFRICA BOOK CENTRE LIMITED Registered Number 02365309

Notes to the Abbreviated Accounts for the period ended 31 March 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 April 2008.

Turnover policy
Turnover represents the total invoice value excluding Value Added Tax of sales made during the year

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost or valuation less residual value of each asset over its expected useful life, as follows: For fixtures and fittings 25% reducing balance and for computer equipment 33.33% straight line.

Valuation information and policy
Stock is valued at the lower of cost and net realisable value.

2Tangible fixed assets
£
Cost
At 1 April 2013 500
Additions 0
Disposals 0
Revaluations 0
Transfers 0
At 31 March 2014 500
Depreciation
At 1 April 2013 0
Charge for the year 167
On disposals -
At 31 March 2014 167
Net book values
At 31 March 2014 333
At 31 March 2013 500

Computerised stock and sales system

3Called Up Share Capital
Allotted, called up and fully paid:
2014
£
2013
£
2,500 Ordinary shares of £1 each 2,500 2,500

Share capital unchanged

4Transactions with directors

Name of director receiving advance or credit: Anthony Zurbrugg
Description of the transaction: Loan to company
Balance at 1 April 2013: £ 0
Advances or credits made: £ 5,000
Advances or credits repaid: £ 0
Balance at 31 March 2014: £ 5,000

Name of director receiving advance or credit: Margaret Ling
Description of the transaction: Loan to company
Balance at 1 April 2013: £ 0
Advances or credits made: £ 6,000
Advances or credits repaid: £ 0
Balance at 31 March 2014: £ 6,000

Name of director receiving advance or credit: George Milner
Description of the transaction: Loan to company
Balance at 1 April 2013: £ 0
Advances or credits made: £ 4,000
Advances or credits repaid: £ 0
Balance at 31 March 2014: £ 4,000

Director's loan to enable company to remain solvent and trading.