Abbreviated Company Accounts - ASHLEY DRAKE PUBLISHING LTD

ASHLEY DRAKE PUBLISHING LTD - Company Information

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Registered Number 02970930

ASHLEY DRAKE PUBLISHING LTD

Abbreviated Accounts

31 December 2014

ASHLEY DRAKE PUBLISHING LTD Registered Number 02970930

Abbreviated Balance Sheet as at 31 December 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	2	88	208
		88	208
Current assets
Stocks		13,676	4,368
Debtors		3,631	1,058
Cash at bank and in hand		10,362	8
		27,669	5,434
Creditors: amounts falling due within one year		(22,482)	(5,462)
Net current assets (liabilities)		5,187	(28)
Total assets less current liabilities		5,275	180
Creditors: amounts falling due after more than one year		(2,784)	(4,318)
Total net assets (liabilities)		2,491	(4,138)
Capital and reserves
Called up share capital	3	100	100
Profit and loss account		2,391	(4,238)
Shareholders' funds		2,491	(4,138)

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 30 September 2015

And signed on their behalf by:
A Drake, Director

ASHLEY DRAKE PUBLISHING LTD Registered Number 02970930

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 April 2008.

Turnover policy
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

Tangible assets depreciation policy
Fixed assets

All fixed assets are initially recorded at cost.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Fixtures & Fittings - between 10% and 20% per annum on cost
Computer Equipment - 33% per annum on cost

Other accounting policies
Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Pension costs

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

2Tangible fixed assets

	£
Cost
At 1 January 2014	9,851
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2014	9,851
Depreciation
At 1 January 2014	9,643
Charge for the year	120
On disposals	-
At 31 December 2014	9,763
Net book values
At 31 December 2014	88
At 31 December 2013	208

3Called Up Share Capital
Allotted, called up and fully paid:

	2014 £	2013 £
100 Ordinary shares of £1 each	100	100

4Transactions with directors

Name of director receiving advance or credit:	A Drake
Description of the transaction:	Directors current account
Balance at 1 January 2014:	£ 0
Advances or credits made:	£ 1,498
Advances or credits repaid:	-
Balance at 31 December 2014:	£ 1,498

The company was under the control of Mr A Drake throughout the current and previous year. Mr Drake is the managing director and majority shareholder.

The company owed £1,468 to Mr Drake at the year end.