Abbreviated Company Accounts - AFP DIGITAL LIMITED

AFP DIGITAL LIMITED - Company Information

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Registered Number 06772960

AFP DIGITAL LIMITED

Abbreviated Accounts

31 March 2016

AFP DIGITAL LIMITED Registered Number 06772960

Abbreviated Balance Sheet as at 31 March 2016

	Notes	2016	2015
		£	£
Fixed assets
Intangible assets	2	4,500	6,000
Tangible assets	3	30,294	50,346
		34,794	56,346
Current assets
Stocks		195,179	113,000
Debtors		522,765	298,902
Cash at bank and in hand		1	233
		717,945	412,135
Creditors: amounts falling due within one year		(528,382)	(329,927)
Net current assets (liabilities)		189,563	82,208
Total assets less current liabilities		224,357	138,554
Creditors: amounts falling due after more than one year		(170,040)	(97,117)
Provisions for liabilities		-	(2,677)
Total net assets (liabilities)		54,317	38,760
Capital and reserves
Called up share capital	4	120	120
Profit and loss account		54,197	38,640
Shareholders' funds		54,317	38,760

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 10 June 2016

And signed on their behalf by:
R Pharo, Director

AFP DIGITAL LIMITED Registered Number 06772960

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 the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

Tangible assets depreciation policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Plant & Machinery 25% reducing balance
Motor vehicles 25% straight line

Other accounting policies
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.

2Intangible fixed assets

	£
Cost
At 1 April 2015	15,000
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2016	15,000
Amortisation
At 1 April 2015	9,000
Charge for the year	1,500
On disposals	-
At 31 March 2016	10,500
Net book values
At 31 March 2016	4,500
At 31 March 2015	6,000

3Tangible fixed assets

	£
Cost
At 1 April 2015	62,722
Additions	6,495
Disposals	(21,931)
Revaluations	-
Transfers	-
At 31 March 2016	47,286
Depreciation
At 1 April 2015	12,376
Charge for the year	13,171
On disposals	(8,555)
At 31 March 2016	16,992
Net book values
At 31 March 2016	30,294
At 31 March 2015	50,346

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

	2016 £	2015 £
84 A Ordinary shares of £1 each	84	84
36 B Ordinary shares of £1 each	36	36

5Transactions with directors

Name of director receiving advance or credit:	R Pharo
Description of the transaction:	Loan
Balance at 1 April 2015:	£ 67,505
Advances or credits made:	£ 24,382
Advances or credits repaid:	-
Balance at 31 March 2016:	£ 91,887

Name of director receiving advance or credit:	A Bennell
Description of the transaction:	Loan
Balance at 1 April 2015:	£ 66,866
Advances or credits made:	£ 25,020
Advances or credits repaid:	-
Balance at 31 March 2016:	£ 91,886

The above loans are unsecured and repayable on demand. Interest is charged at 4.75%.

During the year the company paid a dividend totalling £140,000 (2015: £152,000).