ADMIRAL U.P.V.C. SPECIALISTS LTD - Abbreviated accounts

Registered number

04823754

ADMIRAL U.P.V.C. SPECIALISTS LTD

Abbreviated Accounts

31 March 2016

ADMIRAL U.P.V.C. SPECIALISTS LTD
Registered number:		04823754
Abbreviated Balance Sheet
as at 31 March 2016

Notes			2016			2015
£				£
Fixed assets
Tangible assets	2		113,552			210,877
Investments	3		600,100			100
			713,652			210,977

Current assets
Stocks		234,540			230,536
Debtors	4	510,646			469,068
Cash at bank and in hand		10,016			521
		755,202			700,125

Creditors: amounts falling due within one year		(376,787)			(325,726)

Net current assets			378,415			374,399

Total assets less current liabilities			1,092,067			585,376

Creditors: amounts falling due after more than one year			(198,255)			(155,228)

Provisions for liabilities			(6,854)			(7,854)


Net assets			886,958			422,294

Capital and reserves
Called up share capital	6		100			100
Revaluation reserve			457,749			-
Profit and loss account			429,109			422,194

Shareholders' funds			886,958			422,294

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.



A P Marks
Director
Approved by the board on 5 December 2016

ADMIRAL U.P.V.C. SPECIALISTS LTD
Notes to the Abbreviated Accounts
for the year ended 31 March 2016

1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

	Consolidation
	The company is a parent company subject to the small companies regime. The company and its subsidiary comprise a small group. The company is therefore not required to and has chosen not to prepare group accounts.

	Turnover
	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.

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

	Plant and machinery			25% on net book value
	Motor vehicles			25% on net book value
	Property improvements			10% straight line over 10 years, or over the lease term if less than 10 years
	Freehold land is not depreciated

	Investment properties
	Investment property is included in the balance sheet at its open market value in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) and is not depreciated. When material changes in open market value arise they are taken to a revaluation reserve and disclosed in the statement of recognised gains and losses, or to the profit and loss account when the market value is lower than original cost and is expected to be a permanent reduction. This treatment is contrary to the Companies Act 2006 which states that fixed assets should be depreciated but is, in the opinion of the directors, necessary in order to give a true and fair view of the financial position of the company because the property is held for its investment potential. If this departure from the Companies Act had not been made, the profit for the financial year would have been reduced by depreciation of £1,717 (2015: £nil). The investment properties note includes an approximation of the the tax that would be payable if the investment property had been sold at the balance sheet date, but as there was no contract for sale at the balance sheet date the accounts do not include any provision for this tax.

	Stocks
	Stock is valued at the lower of cost and net realisable value. It includes work in progress on a speculative property renovation project, valued at the lower of cost and net realisable value.

	Deferred taxation
	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.

	Leasing and hire purchase commitments
	Rentals paid under operating leases are charged to income on a straight line basis over the lease term.


2	Tangible fixed assets					£

	Cost
	At 1 April 2015					323,674
	Additions					81,151
	Transfer to investments					(200,784)
	Disposals					(38,017)
	At 31 March 2016					166,024

	Depreciation
	At 1 April 2015					112,797
	Charge for the year					15,257
	Transfer to investments					(58,533)
	On disposals					(17,049)
	At 31 March 2016					52,472

	Net book value
	At 31 March 2016					113,552
	At 31 March 2015					210,877


3	Investments					£

	Cost
	At 1 April 2015					100
	Additions					600,000

	At 31 March 2016					600,100

	The investment in the subsidiary company is £100 and comprises:

Capital and							Profit (loss)
	Company	Shares held				reserves	for the year
		Class		%	£		£
	Marks & Mann Ltd	Ordinary		100		(348,076)		(76,914)

4	Debtors					2016		2015
£							£
	Debtors include:

	Amounts due after more than one year					430,028		-


5	Loans					2016		2015
£							£
	Creditors include:
	Amounts falling due for payment after more than five years					79,455		87,828
	Secured bank loans					251,238		211,059


6	Share capital	Nominal		2016		2016		2015
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		100		100		100