Asset Finance Solutions (UK) Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 09227443 (England and Wales)

Abbreviated Accounts for the Year Ended 30 April 2016

for

Asset Finance Solutions (UK) Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

N Simpson

M D Geddes

J J Ford

REGISTERED OFFICE:

Suites 5 & 6, The Printworks

Hey Road

Barrow

Clitheroe

Lancashire

BB7 9WB

BUSINESS ADDRESS:

Suite 4

Challenge House

Challenge Way, Greenbank Business Park

Blackburn

Lancashire

BB1 5QB

REGISTERED NUMBER:

09227443 (England and Wales)

ACCOUNTANTS:

Towers & Gornall

Chartered Certified Accountants

Suites 5 & 6 The Printworks

Hey Road

Barrow

Clitheroe

Lancashire

BB7 9WB

FIXED ASSETS

Tangible assets

2

18,750

-

CURRENT ASSETS

Debtors

488,924

150

Cash at bank

538,993

-

1,027,917

150

CREDITORS

Amounts falling due within one year

3

898,725

-

NET CURRENT ASSETS

129,192

150

TOTAL ASSETS LESS CURRENT
LIABILITIES

147,942

150

CREDITORS

Amounts falling due after more than
one year

3

15,583

-

NET ASSETS

132,359

150

CAPITAL AND RESERVES

Called up share capital

4

150

Profit and loss account

132,209

-

SHAREHOLDERS' FUNDS

132,359

150

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 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 13 January 2017 and were
signed on its behalf by:

J J Ford - Director

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 each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Motor vehicles

-

25% on reducing balance

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not

reversed at the balance sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the

balance sheet. Those held under hire purchase contracts are depreciated over their

estimated useful lives. Those held under finance leases are depreciated over their

estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the

relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight

line basis over the period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

Additions

20,000

At 30 April 2016

20,000

DEPRECIATION

Charge for year

1,250

At 30 April 2016

1,250

NET BOOK VALUE

At 30 April 2016

18,750

3.

CREDITORS

Creditors include an amount of £ 18,316 for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.16

30.4.15

value:

£

150

Ordinary

£1

150

5.	ULTIMATE PARENT COMPANY

AFS Group Holdings Ltd is regarded by the directors as being the company's ultimate

parent company.