Audio Developments Ltd - Accounts

Audio Developments Ltd - Accounts

AUDIO DEVELOPMENTS LTD - Company Information

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Registered Number : 04631097
England and Wales

 

 

 


Abridged Accounts

for the year ended 31 August 2017

for

AUDIO DEVELOPMENTS LTD

Audio Developments Ltd
Contents Page
For the year ended 31 August 2017
 
 		 Notes
 		 2017
£		   2016
£
Fixed assets      
Tangible fixed assets 3 1,464    2,522 
1,464    2,522 
Current assets      
Stocks 84,448    81,071 
Debtors (4,580)   13,657 
Cash at bank and in hand 53,198    56,018 
133,066    150,746 
Creditors: amount falling due within one year (39,374)   (40,244)
Net current assets 93,692    110,502 
 
Total assets less current liabilities 95,156    113,024 
Net assets 95,156    113,024 
 

Capital and reserves 		     
Called up share capital 4 600    600 
Profit and loss account 94,556    112,424 
Shareholders funds 95,156    113,024 
 


For the year ended 31 August 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's Responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The members have agreed to the preparation of abridged accounts.
Signed on behalf of the board of directors


--------------------------------
Tom Cryan
Director

Date approved by the board: 11 October 2017
1
Statutory Information
Audio Developments Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration number 04631097.

The presentation currency is £ sterling.
1.

Accounting Policies

Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Financial Reporting Standard for Smaller Entities (effective January 2016).
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 20% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Intangible fixed assets

Cost or Valuation Goodwill   Total
  £   £
At 01 September 2016 70,000    70,000 
Additions -    - 
Disposals -    - 
At 31 August 2017 70,000    70,000 
Amortisation
At 01 September 2016 70,000    70,000 
Charge for year -    - 
On disposals -    - 
At 31 August 2017 70,000    70,000 
Net book values
At 31 August 2017 -    - 
At 31 August 2016 -    - 


3.

Tangible fixed assets

Cost or Valuation Plant and Machinery   Total
  £   £
At 01 September 2016 27,662    27,662 
Additions -    - 
Disposals -    - 
At 31 August 2017 27,662    27,662 
Depreciation
At 01 September 2016 25,140    25,140 
Charge for year 1,058    1,058 
On disposals -    - 
At 31 August 2017 26,198    26,198 
Net book values
Closing balance as at 31 August 2017 1,464    1,464 
Opening balance as at 01 September 2016 2,522    2,522 


4.

Share Capital

Allotted
2017
£		   2016
£
600 Ordinary shares of £1.00 each 600    600 
600    600 

2