Abbreviated Company Accounts - ASCOT INDUSTRIAL SUPPLIES LIMITED

ASCOT INDUSTRIAL SUPPLIES LIMITED - Company Information

08951975 ASCOT INDUSTRIAL SUPPLIES LIMITED 2016-03-31 false 2015-04-01 2016-03-31 true 08951975 2015-04-01 2016-03-31 08951975 2016-03-31 08951975 2015-03-31 08951975 uk-gaap-cd-bus:Director1 2015-04-01 2016-03-31 08951975 uk-gaap-cd-bus:Director2 2015-04-01 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-04-01 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-03-31 iso4217:GBP shares

Registered Number 08951975

ASCOT INDUSTRIAL SUPPLIES LIMITED

Abbreviated Accounts

31 March 2016

ASCOT INDUSTRIAL SUPPLIES LIMITED Registered Number 08951975

Abbreviated Balance Sheet as at 31 March 2016

	Notes	2016	2015
		£	£
Called up share capital not paid		-	-
Fixed assets
Intangible assets	2	-	25,000
Tangible assets	3	2,504	3,752
		2,504	28,752
Current assets
Stocks		5,464	3,087
Debtors		72,984	78,013
Cash at bank and in hand		6,160	350
		84,608	81,450
Prepayments and accrued income		206	206
Creditors: amounts falling due within one year		(67,598)	(101,824)
Net current assets (liabilities)		17,216	(20,168)
Total assets less current liabilities		19,720	8,584
Accruals and deferred income		(2,491)	(2,063)
Total net assets (liabilities)		17,229	6,521
Capital and reserves
Called up share capital	4	1	1
Profit and loss account		17,228	6,520
Shareholders' funds		17,229	6,521

For the year ending 31 March 2016 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 27 May 2016

And signed on their behalf by:
P Proud, Director

ASCOT INDUSTRIAL SUPPLIES LIMITED Registered Number 08951975

Notes to the Abbreviated Accounts for the period ended 31 March 2016

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 amounts receivable for goods and services net of VAT and trade discounts.

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 estimated residual value of each asset over its expected useful life, as follows:

Commercial Vehicle 25% straight line on cost

Intangible assets amortisation policy
The write off of Intangible fixed assets is calculated based upon the remaining value to the business. It is considered that goodwill should be written off over two years.

2Intangible fixed assets

	£
Cost
At 1 April 2015	50,000
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2016	50,000
Amortisation
At 1 April 2015	25,000
Charge for the year	25,000
On disposals	-
At 31 March 2016	50,000
Net book values
At 31 March 2016	0
At 31 March 2015	25,000

3Tangible fixed assets

	£
Cost
At 1 April 2015	5,000
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2016	5,000
Depreciation
At 1 April 2015	1,248
Charge for the year	1,248
On disposals	-
At 31 March 2016	2,496
Net book values
At 31 March 2016	2,504
At 31 March 2015	3,752

4Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
1 Ordinary shares of £1 each	1	1