A._YOUNG_(WHOLESALE_JEWEL - Accounts
A._YOUNG_(WHOLESALE_JEWEL - Accounts
Company Registration No. 01576438 (England and Wales)
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2013
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2013
- 1 -
2013
2012
Notes
£
£
£
£
Fixed assets
Tangible assets
2
Current assets
Stocks
Debtors
3
Cash at bank and in hand
Creditors: amounts falling due within one year
(136,344 )
(150,156 )
Net current assets
Total assets less current liabilities
Capital and reserves
Called up share capital
4
Profit and loss account
(119,831 )
(155,424 )
Shareholders' funds
Director's responsibilities:
-
-
Approved by the Board for issue on 16 September 2014
Director
Company Registration No. 01576438
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2013
1
Accounting policies
1.1
Accounting convention
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently.
1.3
Turnover
1.4
Tangible fixed assets and depreciation
Computer equipment
Fixtures, fittings and equipment
Motor vehicles
1.5
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.6
Stock
Stock is valued at the lower of cost and net realisable value.
1.7
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to the profit and loss account.
1.8
Group accounts
The financial statements present information about the company as an individual undertaking and not about its group. The company has not prepared group accounts as it is exempt from the requirement to do so by section 400 of the Companies Act 2006 as it is a subsidiary undertaking of Wholesale Management Services Limited Inc, a company incorporated in Panama.
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2013
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 January 2013 & at 31 December 2013
50,237
Depreciation
At 1 January 2013
46,097
Charge for the year
851
At 31 December 2013
46,948
Net book value
At 31 December 2013
3,289
At 31 December 2012
4,140
3
Debtors
Debtors include an amount of £208,241 (2012 - £208,241) which is due after more than one year.
4
Share capital
2013
2012
£
£
Allotted, called up and fully paid
5
Ultimate parent company
The company's ultimate parent undertaking is Wholesale Management Services Limited Inc, a company incorporated in Panama.
The ultimate controlling interest in the parent undertaking is held by Mr G Malas.
The ultimate controlling interest in the parent undertaking is held by Mr G Malas.