AFW Developments Limited - Period Ending 2015-03-31

Registration number: NI066968

AFW Developments Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2015
 

AFW Developments Limited
(Registration number: NI066968)
Abbreviated Balance Sheet at 31 March 2015

		Note			2015 £			2014 £
Current assets
Stock and work in progress					246,500			313,528
Creditors: Amounts falling due within one year		2			(296,482)			(358,019)
Net liabilities					(49,982)			(44,491)
Capital and reserves
Called up share capital		3			2			2
Profit and loss account					(49,984)			(44,493)
Shareholders' deficit					(49,982)			(44,491)

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

For the year ending 31 March 2015 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.
 

Approved by the Board on 22 December 2015 and signed on its behalf by:

.........................................
Mr Allen Caldwell Walker
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

AFW Developments Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 total invoiced sales for the accounting period excluding value added tax.

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Defreed tax is recognised without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed at the balance sheet date, except as required by the Financial Reporting Standard for Smaller Entities. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law applying at the balance sheet date.

2

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2015 £			2014 £
Amounts falling due within one year		84,261			152,149

Page 2

AFW Developments Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		2			2			2			2

Page 3