Abbreviated Company Accounts - ANEW FLOORING LTD

Registered Number 07879870

ANEW FLOORING LTD

Abbreviated Accounts

31 December 2015

ANEW FLOORING LTD Registered Number 07879870

Abbreviated Balance Sheet as at 31 December 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	9,906	2,870
		9,906	2,870
Current assets
Debtors		135,446	88,712
Cash at bank and in hand		1,946	-
		137,392	88,712
Creditors: amounts falling due within one year		(94,650)	(51,235)
Net current assets (liabilities)		42,742	37,477
Total assets less current liabilities		52,648	40,347
Provisions for liabilities		(1,981)	(574)
Total net assets (liabilities)		50,667	39,773
Capital and reserves
Called up share capital		10	10
Profit and loss account		50,657	39,763
Shareholders' funds		50,667	39,773

For the year ending 31 December 2015 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 30 September 2016

And signed on their behalf by:
Mr A J Dewhirst, Director

ANEW FLOORING LTD Registered Number 07879870

Notes to the Abbreviated Accounts for the period ended 31 December 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover policy
Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Tangible assets depreciation policy
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class Depreciation method and rate
Plant and Machinery 15% Reducing Balance
Office Equipment 15% Reducing Balance
Motor Vehicles 25% Reducing Balance

Other accounting policies
Deferred tax
Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE.

Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing
Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2Tangible fixed assets

	£
Cost
At 1 January 2015	4,138
Additions	9,407
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2015	13,545
Depreciation
At 1 January 2015	1,268
Charge for the year	2,371
On disposals	-
At 31 December 2015	3,639
Net book values
At 31 December 2015	9,906
At 31 December 2014	2,870