Abbreviated Company Accounts - AFROTRADE LIMITED

06186929 AFROTRADE LIMITED 2016-03-31 false 2015-04-01 2016-03-31 true 06186929 2015-04-01 2016-03-31 06186929 2016-03-31 06186929 2015-03-31 06186929 uk-gaap-cd-bus:Director1 2015-04-01 2016-03-31 06186929 uk-gaap-cd-bus:Director2 2015-04-01 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-04-01 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-03-31 iso4217:GBP shares

Registered Number 06186929

AFROTRADE LIMITED

Abbreviated Accounts

31 March 2016

AFROTRADE LIMITED Registered Number 06186929

Abbreviated Balance Sheet as at 31 March 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	3,170	2,226
Investments	3	37,000	37,000
		40,170	39,226
Current assets
Debtors	4	759	759
Cash at bank and in hand		45,243	21,243
		46,002	22,002
Creditors: amounts falling due within one year	5	(166,797)	(160,494)
Net current assets (liabilities)		(120,795)	(138,492)
Total assets less current liabilities		(80,625)	(99,266)
Total net assets (liabilities)		(80,625)	(99,266)
Capital and reserves
Called up share capital	6	2	2
Profit and loss account		(80,627)	(99,268)
Shareholders' funds		(80,625)	(99,266)

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 13 May 2016

And signed on their behalf by:
Emily Esho, Director

AFROTRADE LIMITED Registered Number 06186929

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
Accounting policies

The financial statements have been prepared under historical cost convention and are in accordance with applicable accounting standards. The following principal accounting policies have been applied:

Turnover

Turnover represents the invoiced amounts of services provided, net of value added tax

Tangible assets depreciation policy
Depreciation

Depreciation is provided on all tangible assets at rates calculated to write off the cost, less estimated residual value of each asset over it’s expected useful life as follows:

Equipment - 25% reducing balance

2Tangible fixed assets

	£
Cost
At 1 April 2015	6,403
Additions	2,000
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2016	8,403
Depreciation
At 1 April 2015	4,177
Charge for the year	1,056
On disposals	-
At 31 March 2016	5,233
Net book values
At 31 March 2016	3,170
At 31 March 2015	2,226

3Fixed assets Investments
Investment is the cost of bespoke software developed for trading

4Debtors

	2016 £	2015 £
Debtors include the following amounts due after more than one year	759	759

5Creditors

	2016 £	2015 £
Secured Debts	166,797	160,494

6Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
2 Ordinary shares of £1 each	2	2