Alan Finney Antiques Ltd,Ltd - Accounts

ALAN FINNEY ANTIQUES LIMITED - Company Information

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Alan Finney Antiques Ltd

For the year ended 31 March 2016

Unaudited Abbreviated Report and Financial Statements

England and Wales

Registered Number: 05035804

Contents Page

Alan Finney Antiques Ltd

For the year ended 31 March 2016

Balance Sheet

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Notes to the Abbreviated Financial Statements

Abbreviated Balance Sheet

Alan Finney Antiques Ltd

As at 31 March 2016

05035804

Registered Number :

2016

Notes

2015

Fixed assets

Tangible assets

1,123

1,406

1,123

1,406

Current assets

Stocks

32,752

31,697

Debtors

6,330

875

Cash at bank and in hand

108

32,601

39,190

Creditors: amounts falling due within one year

(42,564)

(38,307)

(3,374)

(5,706)

Net current liabilities

Total assets less current liabilities

(4,583)

(1,968)

1,779

Provisions for liabilities

(2,804)

Net liabilities

(1,968)

Capital and reserves

Called up share capital

Profit and loss account

(2,807)

(1,971)

(2,804)

(1,968)

Shareholders funds

For the year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;

2) 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.

Date approved by the board: 14 December 2016

Mrs Gillian Finney Director

Signed on behalf of the board of directors

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Notes to the Abbreviated Financial Statements

Alan Finney Antiques Ltd

For the year ended 31 March 2016

1 Accounting Policies

Basis of accounting

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

Going Concern

The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the directors who have undertaken to provide such support for the foreseeable future. If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Deferred taxation

Deferred taxation arises when items are charged or credited in accounts in different periods to those in which they are included in the company's tax computations.Deferred tax is provided in full on timing differences that result in an obligation to pay more (or less) tax at a future date. Deferred tax is calculated at the average rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The resulting deferred tax asset or liability is not discounted.

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Plant and Machinery

20% Reducing balance

Computer Equipment

20% Reducing balance

Fixtures and Fittings

20% Reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

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Notes to the Abbreviated Financial Statements

Alan Finney Antiques Ltd

For the year ended 31 March 2016

2 Tangible fixed assets

Tangible fixed

assets

Cost or valuation

6,274

At 01 April 2015

At 31 March 2016

6,274

Depreciation

4,868

At 01 April 2015

283

Charge for year

5,151

At 31 March 2016

Net book values

At 31 March 2016

1,123

1,406

At 31 March 2015

3 Share capital

Allotted called up and fully paid

2016

2015

3 Ordinary shares of £1.00 each

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