Adams Arts & Antiques Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 03569853 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2014

FOR

ADAMS ARTS & ANTIQUES LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

M J Adams

REGISTERED OFFICE:

Festival House

4 Chapman Way

High Brooms

Tunbridge Wells

Kent

TN2 3EF

REGISTERED NUMBER:

03569853 (England and Wales)

ACCOUNTANTS:

Greenaway Chartered Accountants

150 High Street

Sevenoaks

Kent

TN13 1XE

CURRENT ASSETS

Stocks

40,368

54,104

Debtors

518

162

Cash at bank

295

4,442

41,181

58,708

CREDITORS

Amounts falling due within one year

71,304

70,188

NET CURRENT LIABILITIES

(30,123

)

(11,480

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(30,123

)

(11,480

)

CREDITORS

Amounts falling due after more than one year

223,341

214,163

NET LIABILITIES

(253,464

)

(225,643

)

CAPITAL AND RESERVES

Called up share capital

3

2

2

Profit and loss account

(253,466

)

(225,645

)

SHAREHOLDERS' FUNDS

(253,464

)

(225,643

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 23 July 2015 and were signed by:

M J Adams - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective April 2008).

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.

Plant and machinery etc

-

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.

Going concern

The financial statements are prepared on a going concern basis which assumes that the company will

continue in operational existence for the foreseeable future. The company is supported by the director

and it is assumed that this will continue.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2013

and 31 October 2014

23,677

DEPRECIATION

At 1 November 2013

and 31 October 2014

23,677

NET BOOK VALUE

At 31 October 2014

-

At 31 October 2013

-

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/10/14

31/10/13

value:

£

£

2

Ordinary

£1

2

2