Abbreviated Company Accounts - ADVANCED COLOR TECHNOLOGY LIMITED
Abbreviated Company Accounts - ADVANCED COLOR TECHNOLOGY LIMITED
Registered Number 06836815
ADVANCED COLOR TECHNOLOGY LIMITED
Abbreviated Accounts
31 March 2014
ADVANCED COLOR TECHNOLOGY LIMITED Registered Number 06836815
Abbreviated Balance Sheet as at 31 March 2014
Notes | 31/03/2014 | 31/10/2012 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Current assets | |||
Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
( |
( |
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Net current assets (liabilities) |
( |
( |
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Total assets less current liabilities |
( |
( |
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Total net assets (liabilities) |
( |
( |
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Capital and reserves | |||
Called up share capital | 3 |
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Profit and loss account |
( |
( |
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Shareholders' funds |
( |
( |
For the year ending 31 March 2014 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the Board on
And signed on their behalf by:
ADVANCED COLOR TECHNOLOGY LIMITED Registered Number 06836815
Notes to the Abbreviated Accounts for the period ended 31 March 2014
1Accounting Policies
Basis of measurement and preparation of accounts
been prepared under the historical cost convention and in accordance with the Financial Reporting
Standard for Smaller Entities (effective April 2008).
Turnover policy
during the period, exclusive of Value Added Tax and trade discounts.
Tangible assets depreciation policy
Office equipment - 25% reducing balance
Other accounting policies
The financial statements have been prepared on the going concern basis which assumes that the
company will continue in operational existence for the foreseeable future.
The validity of this assumption depends on the continuing support from the company's
shareholders and creditors and the ability to have sufficient working capital in the foreseeable future.
The directors are not aware of any reason why the support from the company's shareholders and
creditors will not be continued. The continuation of this support is critical to the company's ability to
meet its liabilities as they fall due.
Should the going concern basis of preparation of the financial statements be found to be
inappropriate adjustments may have to be made to reduce the value of assets to their recoverable
amount, to provide further liabilities that might arise and to reclassify fixed assets and long term
liabilities as current assets and liabilities respectively, the adjustments would effect the profit and
loss account. It is not practical to quantify these potential adjustments which are not included in these financial statements.
£ | |
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Cost | |
At 1 November 2012 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 March 2014 |
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Depreciation | |
At 1 November 2012 |
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Charge for the year |
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On disposals |
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At 31 March 2014 |
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Net book values | |
At 31 March 2014 | 1,429 |
At 31 October 2012 | 2,708 |