Abbreviated Company Accounts - A.F.S. SYSTEMS LIMITED

A.F.S. SYSTEMS LIMITED - Company Information

03196952 A.F.S. SYSTEMS LIMITED 2016-07-31 false 2015-08-01 2016-07-31 true 03196952 2015-08-01 2016-07-31 03196952 2016-07-31 03196952 2015-07-31 03196952 uk-gaap-cd-bus:Director1 2015-08-01 2016-07-31 03196952 uk-gaap-cd-bus:Director2 2015-08-01 2016-07-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-08-01 2016-07-31 uk-gaap-cd-bus:OrdinaryShareClass1 2016-07-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-07-31 iso4217:GBP shares

Registered Number 03196952

A.F.S. SYSTEMS LIMITED

Abbreviated Accounts

31 July 2016

A.F.S. SYSTEMS LIMITED Registered Number 03196952

Abbreviated Balance Sheet as at 31 July 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	84	187
		84	187
Current assets
Stocks		28,688	350
Debtors		98,037	244,838
Cash at bank and in hand		6,584	41,468
		133,309	286,656
Creditors: amounts falling due within one year		(151,072)	(256,398)
Net current assets (liabilities)		(17,763)	30,258
Total assets less current liabilities		(17,679)	30,445
Total net assets (liabilities)		(17,679)	30,445
Capital and reserves
Called up share capital	3	30,000	30,000
Profit and loss account		(47,679)	445
Shareholders' funds		(17,679)	30,445

For the year ending 31 July 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 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 20 April 2017

And signed on their behalf by:
Mr R E Blair, Director

A.F.S. SYSTEMS LIMITED Registered Number 03196952

Notes to the Abbreviated Accounts for the period ended 31 July 2016

1Accounting Policies

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

Turnover policy
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment 25% per annum, straight line basis

Other accounting policies
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting
Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied
consistently (except as otherwise stated).

Stock
Stock is valued at the lower of cost and net realisable value.

2Tangible fixed assets

	£
Cost
At 1 August 2015	8,033
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 July 2016	8,033
Depreciation
At 1 August 2015	7,846
Charge for the year	103
On disposals	-
At 31 July 2016	7,949
Net book values
At 31 July 2016	84
At 31 July 2015	187

3Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
30,000 Ordinary shares of £1 each	30,000	30,000