Andy Powell Commercials Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 02088096 (England and Wales)

ANDY POWELL COMMERCIALS LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

5

Chartered Certified Accountants' Report

6

DIRECTOR:

Mr A L Powell

SECRETARY:

Mrs F J Powell

REGISTERED OFFICE:

22 Burcott Road

Hereford

Herefordshire

HR4 9LW

REGISTERED NUMBER:

02088096 (England and Wales)

ACCOUNTANTS:

Lockett & Co

Chartered Certified Accountants

Shelton House

Coningsby Street

Hereford

Herefordshire

HR1 2DY

BANKERS:

Lloyds Bank plc

8 High Town

Hereford

Herefordshire

HR1 2AE

FIXED ASSETS

Tangible assets

2

274,200

239,427

CURRENT ASSETS

Stocks

180,408

263,940

Debtors

129,993

219,114

Cash at bank

-

6,000

310,401

489,054

CREDITORS

Amounts falling due within one year

3

404,892

533,224

NET CURRENT LIABILITIES

(94,491

)

(44,170

)

TOTAL ASSETS LESS CURRENT LIABILITIES

179,709

195,257

CREDITORS

Amounts falling due after more than one year

3

(73,914

)

(93,991

)

PROVISIONS FOR LIABILITIES

(34,438

)

(34,232

)

NET ASSETS

71,357

67,034

CAPITAL AND RESERVES

Called up share capital

4

2

2

Profit and loss account

71,355

67,032

SHAREHOLDERS' FUNDS

71,357

67,034

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 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 29 December 2015 and were signed by:

Mr A L Powell - 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 and services supplied, 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Work in progress includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

The charge for taxation takes into account taxation deferred as a result of timing differences between the

treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in

respect of all timing differences that have originated but not reversed at the balance sheet date. However,

deferred tax assets are recognised only to the extent that the director considers that it is more likely than not that

they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred

taxation is measured on a non-discounted basis at the average tax rates that would apply when the timing

differences are expected to reverse, based on tax rates and laws that have been enacted by the balance sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

Company as lessor

Rental income from an operating lease is included in turnover and is recognised on a straight-line basis over the

period of the lease.

Assets held for operating lease purposes are recorded as a fixed asset and depreciated over their useful life.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

449,246

Additions

85,899

Disposals

(66,661

)

At 31 March 2015

468,484

DEPRECIATION

At 1 April 2014

209,819

Charge for year

35,536

Eliminated on disposal

(51,071

)

At 31 March 2015

194,284

NET BOOK VALUE

At 31 March 2015

274,200

At 31 March 2014

239,427

3.

CREDITORS

Creditors include an amount of £ 173,437 (2014 - £ 187,929 ) for which security has been given.

They also include the following debts falling due in more than five years:

2015

2014

£

£

Repayable by instalments

-

250

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

2

Ordinary

£1

2

2

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Andy Powell Commercials Limited for the year ended 31 March 2015 which comprise the Profit

and Loss Account, the Balance Sheet, and the related notes from the company's accounting records and from information

and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com.

This report is made solely to the director of Andy Powell Commercials Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Andy Powell Commercials Limited and state those matters that we have agreed to state to the director of Andy Powell Commercials Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Andy Powell Commercials Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Andy Powell Commercials Limited. You consider that Andy Powell Commercials Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Andy Powell Commercials

Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and

explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Lockett & Co

Chartered Certified Accountants

Shelton House

Coningsby Street

Hereford

Herefordshire

HR1 2DY

29 December 2015