Abbreviated Company Accounts - A G PRICE FLORIST LTD

Abbreviated Company Accounts - A G PRICE FLORIST LTD


Registered Number 07464907

A G PRICE FLORIST LTD

Abbreviated Accounts

31 December 2013

A G PRICE FLORIST LTD Registered Number 07464907

Abbreviated Balance Sheet as at 31 December 2013

Notes 2013 2012
£ £
Fixed assets
Intangible assets 2 7,000 8,000
Tangible assets 3 8,619 9,864
15,619 17,864
Current assets
Stocks 19,000 18,000
Debtors 22,304 20,576
Cash at bank and in hand 100 100
41,404 38,676
Creditors: amounts falling due within one year (56,000) (53,888)
Net current assets (liabilities) (14,596) (15,212)
Total assets less current liabilities 1,023 2,652
Creditors: amounts falling due after more than one year (621) (2,488)
Total net assets (liabilities) 402 164
Capital and reserves
Called up share capital 4 100 100
Profit and loss account 302 64
Shareholders' funds 402 164
  • For the year ending 31 December 2013 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 13 August 2014

And signed on their behalf by:
J Price, Director

A G PRICE FLORIST LTD Registered Number 07464907

Notes to the Abbreviated Accounts for the period ended 31 December 2013

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
Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are physically delivered to the customer.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimate residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment - 10% reducing balance
Motor vehicles - 15% reducing balance

Intangible assets amortisation policy
Acquired goodwill is written off in equal annual installments over its estimated useful economic life.

Other accounting policies
Stock
Cost is determined on the first in first out basis. Net realisable value is the price at which the stock can be released in the normal course of business, less further costs to completion of sale. Provisions are made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.

2Intangible fixed assets
£
Cost
At 1 January 2013 10,000
Additions -
Disposals -
Revaluations -
Transfers -
At 31 December 2013 10,000
Amortisation
At 1 January 2013 2,000
Charge for the year 1,000
On disposals -
At 31 December 2013 3,000
Net book values
At 31 December 2013 7,000
At 31 December 2012 8,000
3Tangible fixed assets
£
Cost
At 1 January 2013 13,393
Additions 169
Disposals -
Revaluations -
Transfers -
At 31 December 2013 13,562
Depreciation
At 1 January 2013 3,529
Charge for the year 1,414
On disposals -
At 31 December 2013 4,943
Net book values
At 31 December 2013 8,619
At 31 December 2012 9,864
4Called Up Share Capital
Allotted, called up and fully paid:
2013
£
2012
£
100 Ordinary shares of £1 each 100 100