Abbreviated Company Accounts - ASOS ART LTD

Registered Number 07900021

ASOS ART LTD

Abbreviated Accounts

31 January 2014

ASOS ART LTD Registered Number 07900021

Abbreviated Balance Sheet as at 31 January 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	2	7,326	2,428
		7,326	2,428
Current assets
Stocks		8,720	5,675
Debtors		5,140	5,000
Cash at bank and in hand		29,741	28,752
		43,601	39,427
Creditors: amounts falling due within one year		(46,811)	(37,293)
Net current assets (liabilities)		(3,210)	2,134
Total assets less current liabilities		4,116	4,562
Total net assets (liabilities)		4,116	4,562
Capital and reserves
Called up share capital		1	1
Revaluation reserve		4,561	-
Profit and loss account		(446)	4,561
Shareholders' funds		4,116	4,562

For the year ending 31 January 2014 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 27 October 2014

And signed on their behalf by:
Dilek Taylan, Director

ASOS ART LTD Registered Number 07900021

Notes to the Abbreviated Accounts for the period ended 31 January 2014

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
Turnover represents sales revenue received from services supplied during the year.

Tangible assets depreciation policy
Depreciation is calculated to write off the cost of the fixed assets over their useful lives, using the following rates and methods:
Office Equipment 25% Reducing Balance
Motor Vehicle 25% Reducing Balance

2Tangible fixed assets

	£
Cost
At 1 February 2013	3,237
Additions	7,340
Disposals	-
Revaluations	-
Transfers	-
At 31 January 2014	10,577
Depreciation
At 1 February 2013	809
Charge for the year	2,442
On disposals	-
At 31 January 2014	3,251
Net book values
At 31 January 2014	7,326
At 31 January 2013	2,428