Company Registration No. 08177043 (England and Wales)
ANAX RETAIL LIMITED
Unaudited accounts
for the year ended 31 August 2017
ANAX RETAIL LIMITED
Unaudited accounts
Contents
ANAX RETAIL LIMITED
Company Information
for the year ended 31 August 2017
Director
Jordan John William GREGSON
Company Number
08177043 (England and Wales)
Registered Office
27A LONG WOOD ROAD
TRAFFORD PARK
MANCHESTER
M17 1PZ
ENGLAND
ANAX RETAIL LIMITED
Statement of financial position
as at 31 August 2017
Intangible assets
2,343
2,655
Tangible assets
1,888
3,658
Cash at bank and in hand
269
516
Creditors: amounts falling due within one year
(56,131)
(72,727)
Net current liabilities
(32,970)
(40,267)
Net liabilities
(28,739)
(33,954)
Called up share capital
10
10
Profit and loss account
(28,749)
(33,964)
Shareholders' funds
(28,739)
(33,954)
For the year ending 31 August 2017 the company was entitled to exemption from audit 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 director acknowledges his responsibilities for complying with the requirements of the Act 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 31 May 2018.
Jordan John William GREGSON
Director
Company Registration No. 08177043
ANAX RETAIL LIMITED
Notes to the Accounts
for the year ended 31 August 2017
ANAX RETAIL LIMITED is a private company, limited by shares, registered in England and Wales, registration number 08177043. The registered office is 27A LONG WOOD ROAD, TRAFFORD PARK, MANCHESTER, M17 1PZ, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 August 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 September 2015.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% on Cost
Fixtures & fittings
20% on Cost
Computer equipment
25% on Cost
The intangible fixed asset, being the cost to acquire a trademark, is being amortised over its estimated useful life of ten years.
In view of the net liabilities reported in the balance sheet at the year end, the director has considered the company?s going concern and its ability to meet its liabilities as they fall due. The director expects the company to return to profitability, and in addition is satisfied that sufficient funding will be available to meet liabilities as they fall due. Accordingly the financial statements are prepared on the going concern basis.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
ANAX RETAIL LIMITED
Notes to the Accounts
for the year ended 31 August 2017
4
Intangible fixed assets
Other
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 September 2016
2,360
1,360
6,073
9,793
At 31 August 2017
2,389
1,360
6,730
10,479
At 1 September 2016
1,888
750
3,497
6,135
Charge for the year
501
272
1,683
2,456
At 31 August 2017
2,389
1,022
5,180
8,591
At 31 August 2017
-
338
1,550
1,888
At 31 August 2016
472
610
2,576
3,658
Raw materials
18,043
20,816
Accrued income and prepayments
-
2,727
ANAX RETAIL LIMITED
Notes to the Accounts
for the year ended 31 August 2017
8
Creditors: amounts falling due within one year
2017
2016
Bank loans and overdrafts
9,710
9,693
Trade creditors
12,504
10,600
Taxes and social security
4,788
2,863
Other creditors
13,400
8,313
Loans from directors
10,229
38,727
9
Transactions with related parties
A balance of £0 (2016 - £0) was owed by the company to JJ Gregson, a director of the company. This amount is included within creditors.
A balance of £23,659 (2016 - £38,727) was owed by the company to MJ Basso, a director of the company. This amount is included within creditors.
10
Average number of employees
During the year the average number of employees was 1 (2016: 0).
