Audio Limited - Abbreviated accounts 16.3

Audio Limited - Abbreviated accounts 16.3

AUDIO LIMITED - Company Information

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REGISTERED NUMBER: 00439619 (England and Wales)












ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31ST MARCH 2016

FOR

AUDIO LIMITED

AUDIO LIMITED (REGISTERED NUMBER: 00439619)






CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31ST MARCH 2016




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

AUDIO LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2016







DIRECTORS: K Patel
L Stone





SECRETARY: K Patel





REGISTERED OFFICE: 7 Century Court
Tolpits Lane
Watford
Hertfordshire
WD18 9RS





REGISTERED NUMBER: 00439619 (England and Wales)





ACCOUNTANTS: M C Patel & Co
Accountants
Hillingdon House
386/388 Kenton Road
Kenton
Harrow
Middlesex
HA3 9DP
Page 1
AUDIO LIMITED (REGISTERED NUMBER: 00439619)

ABBREVIATED BALANCE SHEET
31ST MARCH 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 270,992 281,534

CURRENT ASSETS
Stocks 434,590 360,150
Debtors 129,107 134,640
Cash at bank and in hand 210,976 434,054
774,673 928,844
CREDITORS
Amounts falling due within one year 71,987 69,012
NET CURRENT ASSETS 702,686 859,832
TOTAL ASSETS LESS CURRENT
LIABILITIES
973,678
1,141,366

CAPITAL AND RESERVES
Called up share capital 3 2 2
Capital redemption reserve 4 4
Profit and loss account 973,672 1,141,360
SHAREHOLDERS' FUNDS 973,678 1,141,366

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the
Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as
at the end of each financial year and of its profit or loss for each financial year in accordance with the
requirements of Sections 394 and 395 and which otherwise comply with the requirements of the
Companies Act 2006 relating to financial statements, so far as applicable to the company.

The notes form part of these abbreviated accounts

Page 2 continued...
AUDIO LIMITED (REGISTERED NUMBER: 00439619)

ABBREVIATED BALANCE SHEET - continued
31ST MARCH 2016


The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were approved by the Board of Directors on 2nd November 2016 and were signed
on its behalf by:




K Patel - Director



L Stone - Director


The notes form part of these abbreviated accounts

Page 3
AUDIO LIMITED (REGISTERED NUMBER: 00439619)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31ST MARCH 2016

1. ACCOUNTING POLICIES

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

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Long leasehold - 2% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for
obsolete and slow moving items.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at
the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of
exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at
the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis
over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the
company's pension scheme are charged to the profit and loss account in the period to which they
relate.

Page 4 continued...
AUDIO LIMITED (REGISTERED NUMBER: 00439619)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 31ST MARCH 2016

2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1st April 2015 961,767
Additions 2,432
At 31st March 2016 964,199
DEPRECIATION
At 1st April 2015 680,233
Charge for year 12,974
At 31st March 2016 693,207
NET BOOK VALUE
At 31st March 2016 270,992
At 31st March 2015 281,534

3. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2016 2015
value: £    £   
38 Ordinary shares 0.05 2 2

Page 5