ADS Components Ltd - Abbreviated accounts

ADS COMPONENTS LIMITED - Company Information

Registered number

04618241

ADS Components Ltd

Abbreviated Accounts

31 March 2015

ADS Components Ltd
Registered number:		04618241
Abbreviated Balance Sheet
as at 31 March 2015

Notes			2015			2014
£				£
Fixed assets
Tangible assets	2		13,969			2,002

Current assets
Stocks		190,087			166,260
Debtors		362,080			321,280
Cash at bank and in hand		121			706
		552,288			488,246

Creditors: amounts falling due within one year		(189,341)			(172,600)

Net current assets			362,947			315,646

Total assets less current liabilities			376,916			317,648

Creditors: amounts falling due after more than one year			(17,169)			-



Net assets			359,747			317,648

Capital and reserves
Called up share capital	3		60			60
Profit and loss account			359,687			317,588

Shareholders' funds			359,747			317,648

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.



Mr B Mohan
Director
Approved by the board on 24 October 2015

ADS Components Ltd
Notes to the Abbreviated Accounts
for the year ended 31 March 2015

1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

	Turnover
	Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

	Depreciation
	Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.


	Motor vehicles			25% Reducing Balance Method

	Stocks
	Stock is valued at the lower of cost and net realisable value.

	Foreign currencies
	Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.

	Leasing and hire purchase commitments
	Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Rentals paid under operating leases are charged to income on a straight line basis over the lease term.


2	Tangible fixed assets					£

	Cost
	At 1 April 2014					3,560
	Additions					18,625
	Disposals					(3,560)
	At 31 March 2015					18,625

	Depreciation
	At 1 April 2014					1,558
	Charge for the year					4,656
	On disposals					(1,558)
	At 31 March 2015					4,656

	Net book value
	At 31 March 2015					13,969
	At 31 March 2014					2,002


3	Share capital	Nominal		2015		2015		2014
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		60		60		60