Archers Commercials Limited - Period Ending 2016-09-30

Registration number: 05566948

Archers Commercials Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2016
 

Archers Commercials Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Archers Commercials Limited (Registration number: 05566948)
Abbreviated Balance Sheet at 30 September 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					207,767			232,109
Current assets
Stocks					136,475			146,515
Debtors					48,290			17,679
Cash at bank and in hand					425,449			457,427
					610,214			621,621
Creditors: Amounts falling due within one year					(40,567)			(43,617)
Net current assets					569,647			578,004
Total assets less current liabilities					777,414			810,113
Provisions for liabilities					(14,521)			(17,475)
Net assets					762,893			792,638
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					762,793			792,538
Shareholders' funds					762,893			792,638

For the year ending 30 September 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 director acknowledges his 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 director on 7 February 2017

.........................................
Mr P Morton
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Archers Commercials Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% reducing balance basis
Office equipment	25% reducing balance basis
Motor vehicles	25% reducing balance basis
Property improvements	10% straight line basis
Freehold land	not depreciated

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

Archers Commercials Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 October 2015		351,167			351,167
Additions		6,500			6,500
At 30 September 2016		357,667			357,667
Depreciation
At 1 October 2015		119,058			119,058
Charge for the year		30,842			30,842
At 30 September 2016		149,900			149,900
Net book value
At 30 September 2016		207,767			207,767
At 30 September 2015		232,109			232,109

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

Page 3