Academy Workwear & Promotions Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 06495769 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 March 2014

for

ACADEMY WORKWEAR & PROMOTIONS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

6

DIRECTOR:

E J Bolton

SECRETARY:

Mrs J M Bolton

REGISTERED OFFICE:

Vantage House Euxton Lane

Euxton

Chorley

Lancashire

PR7 6TB

REGISTERED NUMBER:

06495769 (England and Wales)

ACCOUNTANTS:

Studholme-Bell Limited

Chartered Accountants

& Business Advisors

Vantage House Euxton Lane

Euxton

Chorley

Lancashire

PR7 6TB

FIXED ASSETS

Intangible assets

2

11,215

13,459

Tangible assets

3

15,760

20,836

26,975

34,295

CURRENT ASSETS

Stocks

4,527

7,711

Debtors

56,479

47,593

Cash at bank

9,510

38

70,516

55,342

CREDITORS

Amounts falling due within one year

54,250

76,114

NET CURRENT ASSETS/(LIABILITIES)

16,266

(20,772

)

TOTAL ASSETS LESS CURRENT LIABILITIES

43,241

13,523

CREDITORS

Amounts falling due after more than one year

(27,372

)

(7,673

)

PROVISIONS FOR LIABILITIES

(3,152

)

(4,167

)

NET ASSETS

12,717

1,683

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

12,617

1,583

SHAREHOLDERS' FUNDS

12,717

1,683

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 6 December 2014 and were signed by:

E J Bolton - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

The turnover shown in the profit and loss account represents revenue recognised by the company in respect of

goods and services supplied during the period, exclusive Value Added Tax and trade discounts.

Goodwill

Goodwill is representative of the client base, market share, reputation and expertise of the Director provided on

incorporation during 2008. Goodwill is to be amortised over 10 years, commencing from the next accounting

period.s

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

-

20% on reducing balance

Computer equipment

-

33% 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.

Deferred tax

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

sheet date.

Hire purchase and 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.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

and 31 March 2014

22,435

AMORTISATION

At 1 April 2013

8,976

Amortisation for year

2,244

At 31 March 2014

11,220

NET BOOK VALUE

At 31 March 2014

11,215

At 31 March 2013

13,459

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

52,783

Additions

178

At 31 March 2014

52,961

DEPRECIATION

At 1 April 2013

31,947

Charge for year

5,254

At 31 March 2014

37,201

NET BOOK VALUE

At 31 March 2014

15,760

At 31 March 2013

20,836

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.14

31.3.13

value:

£

£

30

Ordinary A

£1

60

60

60

Ordinary B

£1

30

30

10

Ordinary C

£1

10

10

100

100

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five)

have been prepared.

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

financial statements of Academy Workwear & Promotions Limited for the year ended 31 March 2014 which comprise

the Profit and Loss Account, the 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject

to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the director of Academy Workwear & Promotions Limited in accordance with our terms of

engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Academy

Workwear & Promotions Limited and state those matters that we have agreed to state to the director of Academy

Workwear & Promotions Limited in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To

the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its

director for our work or for this report.

It is your duty to ensure that Academy Workwear & Promotions 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 profit

of Academy Workwear & Promotions Limited. You consider that Academy Workwear & Promotions 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 Academy Workwear &

Promotions 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.

Studholme-Bell Limited

Chartered Accountants

& Business Advisors

Vantage House Euxton Lane

Euxton

Chorley

Lancashire

PR7 6TB

6 December 2014