AFC Mansfield Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 08091272 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 May 2017

for

AFC Mansfield Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

7

DIRECTORS:

A Saunders

D Bland

M Abbs

SECRETARY:

A Saunders

REGISTERED OFFICE:

26 Baysdale Drive

Forest Town

Mansfield

Nottinghamshire

NG19 0QY

REGISTERED NUMBER:

08091272 (England and Wales)

ACCOUNTANTS:

A & Z Accounting Services Limited

Chartered Certified Accountants

172 Newgate Lane

Mansfield

Nottinghamshire

NG18 2QA

FIXED ASSETS

Tangible assets

3

5,783

7,004

CURRENT ASSETS

Stocks

209

209

Debtors

4

205

269

Cash at bank

597

146

1,011

624

CREDITORS

Amounts falling due within one year

5

1,507

815

NET CURRENT LIABILITIES

(496

)

(191

)

TOTAL ASSETS LESS CURRENT LIABILITIES

5,287

6,813

CREDITORS

Amounts falling due after more than one year

6

12,040

12,040

NET LIABILITIES

(6,753

)

(5,227

)

CAPITAL AND RESERVES

Called up share capital

132,730

86,230

Retained earnings

(139,483

)

(91,457

)

SHAREHOLDERS' FUNDS

(6,753

)

(5,227

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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.

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 27 September 2017 and were signed on its behalf by:

D Bland - Director

1.	STATUTORY INFORMATION

AFC Mansfield 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 is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance and 15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period

of the lease.

Going concern

The balance sheet of the company shows net current liabilities of £496 [2016: £191] and a balance

sheet total of (£6,753) [2016:(£5,227)]. However, the accounts have been prepared on a going

concern basis on the understanding that the Company's Directors will continue to support the

business.

3.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 June 2016

510

11,664

1,120

13,294

Additions

-

277

-

277

Disposals

-

-

(1,120

)

(1,120

)

At 31 May 2017

510

11,941

-

12,451

DEPRECIATION

At 1 June 2016

128

5,397

765

6,290

Charge for year

96

1,047

-

1,143

Eliminated on disposal

-

-

(765

)

(765

)

At 31 May 2017

224

6,444

-

6,668

NET BOOK VALUE

At 31 May 2017

286

5,497

-

5,783

At 31 May 2016

382

6,267

355

7,004

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

205

269

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

-

1

Other creditors

1,507

814

1,507

815

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Other creditors

12,040

12,040

The following reproduces the text of the report prepared for the directors and members in respect of

the company's annual unaudited financial statements. In accordance with the Companies Act 2006,

the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement

and certain other primary statements and the Report of the Directors are not required to be filed with

the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of AFC Mansfield Limited for the year ended 31 May 2017 which

comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records

and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of AFC Mansfield Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of AFC Mansfield Limited and state those matters that we have agreed to state to the Board of Directors of AFC Mansfield Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that AFC Mansfield Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of AFC Mansfield Limited. You consider that AFC Mansfield Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of AFC Mansfield Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

A & Z Accounting Services Limited

Chartered Certified Accountants

172 Newgate Lane

Mansfield

Nottinghamshire

NG18 2QA

27 September 2017