ANTONIO RUSSO LIMITED - Abbreviated accounts

Registered number

07831572

ANTONIO RUSSO LIMITED

Abbreviated Accounts

30 April 2016

ANTONIO RUSSO LIMITED
Registered number:		07831572
Abbreviated Balance Sheet
as at 30 April 2016

Notes			2016			2015
£				£
Fixed assets
Tangible assets	2		20,343			27,124

Current assets
Stocks		25,500			64,861
Debtors		1,225			21,527
Cash at bank and in hand		2,050			1,411
		28,775			87,799

Creditors: amounts falling due within one year		(168,023)			(157,764)

Net current liabilities			(139,248)			(69,965)

Net liabilities			(118,905)			(42,841)

Capital and reserves
Called up share capital	3		100			100
Profit and loss account			(119,005)			(42,941)

Shareholders' funds			(118,905)			(42,841)

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.



Mr David Russell
Director
Approved by the board on 11 January 2017

ANTONIO RUSSO LIMITED
Notes to the Abbreviated Accounts
for the year ended 30 April 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).

	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% reducing balance


	Stocks
	Stock is 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.

	Foreign currencies
	Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.

	Leasing and hire purchase commitments
	Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

	Pensions
	The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.


2	Tangible fixed assets					£

	Cost
	At 1 May 2015					59,529
	At 30 April 2016					59,529

	Depreciation
	At 1 May 2015					32,405
	Charge for the year					6,781
	At 30 April 2016					39,186

	Net book value
	At 30 April 2016					20,343
	At 30 April 2015					27,124


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