ADKINS_ASSOCIATES_LIMITED - Accounts

ADKINS ASSOCIATES LIMITED - Company Information

Print Friendly Version

Company Registration No. 04138671 (England and Wales)

ADKINS ASSOCIATES LIMITED (FORMERLY KNOWN AS STEPHEN A ADKINS LIMITED)

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2015

ADKINS ASSOCIATES LIMITED (FORMERLY KNOWN AS STEPHEN A ADKINS LIMITED)

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

ADKINS ASSOCIATES LIMITED (FORMERLY KNOWN AS STEPHEN A ADKINS LIMITED)

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

5,257

1,296

Current assets

Debtors

130,606

147,450

Cash at bank and in hand

149,606

46,267

280,212

193,717

Creditors: amounts falling due within one year

(156,526)

(143,658)

Net current assets

123,686

50,059

Total assets less current liabilities

128,943

51,355

Provisions for liabilities

(1,051)

(259)

127,892

51,096

Capital and reserves

Called up share capital

100

Profit and loss account

127,792

50,996

Shareholders' funds

127,892

51,096

For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 8 September 2016

S A Adkins

Director

Company Registration No. 04138671

ADKINS ASSOCIATES LIMITED (FORMERLY KNOWN AS STEPHEN A ADKINS LIMITED)

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Turnover

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

1.3

Tangible fixed assets and depreciation

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:

Plant and machinery

25% reducing balance method

Computer equipment

3 years straight line

1.4

Revenue recognition

Fee income represents revenue earned under a wide variety of contracts to provide professional services. Revenue is recognised as earned when, and to the extent that, the firm obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, including expenses and disbursements but excluding value added tax.

Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of work performed. Revenue not billed to clients is included in debtors and payments on account in excess of the relevant amount of revenue are included in creditors.

Fee income that is contingent on events outside the control of the firm is recognised when the contingent event occurs.

1.5

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

ADKINS ASSOCIATES LIMITED (FORMERLY KNOWN AS STEPHEN A ADKINS LIMITED)

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2015

- 3 -

Fixed assets

Tangible assets

Cost

At 1 January 2015

9,587

Additions

4,406

At 31 December 2015

13,993

Depreciation

At 1 January 2015

8,292

Charge for the year

444

At 31 December 2015

8,736

Net book value

At 31 December 2015

5,257

At 31 December 2014

1,296

Share capital

2015

2014

Allotted, called up and fully paid

70 Ordinary shares of £1 each

30 Ordinary 'A' shares of £1 each

100

Both classes of shares have full rights with regards to voting, participation and dividends.

Related party relationships and transactions

Advances and credits to directors

Advances and credits granted to the directors during the year are outlined in the table below:

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

S A Adkins - Loan

5,812

8,624

2,495

11,941

5,812

8,624

2,495

11,941