Almagrove Limited - Period Ending 2016-11-30

Registration number: 03000668

Almagrove Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 November 2016
 

Almagrove Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

Almagrove Limited
(Registration number: 03000668)
Abbreviated Balance Sheet at 30 November 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets		2			33,334			37,504
Current assets
Stocks					131,584			159,939
Debtors					182,540			222,218
Cash at bank and in hand					40,985			33,393
					355,109			415,550
Creditors: Amounts falling due within one year		3			(270,279)			(245,706)
Net current assets					84,830			169,844
Total assets less current liabilities					118,164			207,348
Creditors: Amounts falling due after more than one year		3			(15,454)			-
Provisions for liabilities					(4,859)			(5,336)
Net assets					97,851			202,012
Capital and reserves
Called up share capital		4			100			100
Profit and loss account					97,751			201,912
Shareholders' funds					97,851			202,012

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 1

Almagrove Limited
(Registration number: 03000668)
Abbreviated Balance Sheet at 30 November 2016
......... continued

For the year ending 30 November 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 29 August 2017 and signed on its behalf by:

D Grimes
 Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Almagrove Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 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
Fixtures and fittings	20% on reducing balance
Computer equipment	33% straight line basis
Motor vehicles	20% on reducing balance

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.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

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.

Page 3

Almagrove Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 December 2015		201,037			201,037
Additions		5,557			5,557
At 30 November 2016		206,594			206,594
Depreciation
At 1 December 2015		163,533			163,533
Charge for the year		9,727			9,727
At 30 November 2016		173,260			173,260
Net book value
At 30 November 2016		33,334			33,334
At 30 November 2015		37,504			37,504

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2016 £			2015 £
Amounts falling due within one year		-			27,248

4	Share capital

Allotted, called up and fully paid shares

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

5

Control

The company is controlled by Mr D Grimes.

Page 4