Adept Trading Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 09445739 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2017

FOR

ADEPT TRADING LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Ms A Hooper

Ms J V Newman

REGISTERED OFFICE:

c/o Michael Heaven & Associates Limited

47 Calthorpe Road

Edgbaston

BIRMINGHAM

West Midlands

B15 1TH

REGISTERED NUMBER:

09445739 (England and Wales)

ACCOUNTANTS:

Michael Heaven & Associates Limited

Chartered Certified Accountants

47 Calthorpe Road

Edgbaston

BIRMINGHAM

B15 1TH

INCORPORATED:

18th February 2015

FIXED ASSETS

Tangible assets

3

1,684

852

CURRENT ASSETS

Stocks

28,658

38,074

Debtors

1,186

6,767

Cash at bank

21,367

31,957

51,211

76,798

CREDITORS

Amounts falling due within one year

37,587

71,415

NET CURRENT ASSETS

13,624

5,383

TOTAL ASSETS LESS CURRENT LIABILITIES

15,308

6,235

PROVISIONS FOR LIABILITIES

286

170

NET ASSETS

15,022

6,065

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

14,922

5,965

SHAREHOLDERS' FUNDS

15,022

6,065

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31st May 2017 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 13th September 2017 and were signed on its behalf by:

Ms A Hooper - Director

Ms J V Newman - Director

1.	STATUTORY INFORMATION

Adept Trading Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information

page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents sales of goods and trade discounts. Turnover is recognised when the goods are

physically delivered to the customer.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on reducing balance

Stocks

Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out

basis. Net realisable value represents estimated selling price less costs to complete and sell. Provision is

made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

except to the extent that it relates to items recognised in other comprehensive income or directly in

equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured using

tax rates and laws that have been enacted or substantively enacted by the year end and that are expected

to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable

that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The directors operate a defined contribution pension scheme. Contributions payable to the directors

pension scheme are charged to the profit and loss account in the period to which they relate.

Leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis

over the period of the lease.

3.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st June 2016

1,065

Additions

1,253

At 31st May 2017

2,318

DEPRECIATION

At 1st June 2016

213

Charge for year

421

At 31st May 2017

634

NET BOOK VALUE

At 31st May 2017

1,684

At 31st May 2016

852

4.	FIRST YEAR ADOPTION

The company transitioned to FRS 102A on 18th February 2015. There are no transitional adjustments

applicable and for this reason a Reconciliation of Equity and a Reconciliation of Profit or Loss is not

provided.