ACH Flooring Services Limited - Abbreviated accounts

ACH FLOORING SERVICES LTD. - Company Information

ACH FLOORING SERVICES LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 APRIL 2014

































Company Registration Number: 03963686

ACH FLOORING SERVICES LIMITED

ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2014


CONTENTS									PAGES



Company information									1

Balance sheet									2 to 3

Notes to the abbreviated financial statements									4 to 7

ACH FLOORING SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2014


DIRECTOR

A Harbert


SECRETARY

Mrs P M Harbert


REGISTERED OFFICE

Cranbrook House
287-291 Banbury Road
Oxford
OX2 7JQ


COMPANY REGISTRATION NUMBER

03963686 England and Wales

ACH FLOORING SERVICES LIMITED

BALANCE SHEET
AS AT 30 April 2014


	Notes	2014		2013
		£		£

FIXED ASSETS
Intangible assets	2		4,320		5,040
Tangible assets	3		20,951		29,090


			25,271		34,130

CURRENT ASSETS
Stock		22,266		33,099
Debtors		107,558		92,970
Cash at bank and in hand		-		39,948


		129,824		166,017

CREDITORS: Amounts falling due		134,237		121,234
within one year


NET CURRENT (LIABILITIES) / ASSETS			(4,413)		44,783


TOTAL ASSETS LESS CURRENT LIABILITIES			20,858		78,913

Provisions for liabilities and charges			4,190		5,818


NET ASSETS			16,668		73,095



CAPITAL AND RESERVES
Called up share capital	4		110		110
Profit and loss account			16,558		72,985


SHAREHOLDERS' FUNDS			16,668		73,095



These abbreviated accounts have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

For the financial year ended 30 April 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

Members have not required the company to obtain an audit in accordance with section 476 of the Act.

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.

Signed on behalf of the board


A Harbert
Director

Date approved by the board: 29 January 2015

ACH FLOORING SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2014


1	STATEMENT OF ACCOUNTING POLICIES

	Accounting convention

	The accounts have been prepared under the historical cost convention and are based on accounts prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

	Turnover

	Turnover represents the value of floor coverings installed, stated net of trade discounts and value added tax.

	Goodwill

Goodwill is being amortised on a straight line basis over 20 years, in order to write off the amount over its useful economic life.


	Tangible fixed assets

	Fixed assets are stated at cost less accumulated depreciation.

	Depreciation has been provided at the following rates so as to write off the cost less residual value of the assets over their estimated useful lives.

	Plant and machinery			Straight line basis 25% per annum
	Fixtures and fittings			Straight line basis 25% per annum
	Vehicles			Straight line basis 25% per annum

	Leases

	Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account on a straight line basis, to produce an approximately constant rate of charge on the balance of capital repayments outstanding.

	Stock

	Stock has been valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow-moving items. Cost comprises the cost of goods purchased valued on a standard cost basis. Net realisable value is based on estimated selling price less all further costs incurred to get the stock into its normal sale condition (including marketing, selling and distribution costs).

	Financial instruments

	Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

1	STATEMENT OF ACCOUNTING POLICIES (continued…)

	Deferred taxation

	Deferred taxation is the taxation attributable to timing differences between profits computed for taxation purposes and profits as stated in the financial statements and is fully provided for, except in circumstances where losses are deemed irrecoverable, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.

2	INTANGIBLE ASSETS
					Intangible assets
					£
	Cost
	At 1 May 2013				14,400


	At 30 April 2014				14,400


	Accumulated amounts written off
	At 1 May 2013				9,360

	Charge for year				720


	At 30 April 2014				10,080


	Net book value
	At 1 May 2013				5,040


	At 30 April 2014				4,320


3	TANGIBLE ASSETS
					Tangible assets
					£
	Cost
	At 1 May 2013				90,283

	Additions				1,592

	Disposals				(2,575)


	At 30 April 2014				89,300


	Accumulated depreciation
	At 1 May 2013				61,193

	Charge for year				9,731

	Disposals				(2,575)


	At 30 April 2014				68,349


	Net book value
	At 1 May 2013				29,090


	At 30 April 2014				20,951


4	SHARE CAPITAL
		Nominal value	Number	2014	2013
		£		£	£
	Allotted, called up and fully paid:
	Ordinary shares	1	55	55	55
	Ordinary class A shares	1	55	55	55


				110	110


5	DIRECTOR'S TRANSACTIONS

	The company made an advance to the director during the year. The following amount was due to the company at the year end:

				2014	2013
				£	£
	A Harbert			9,204	8,010


	The maximum amount due to the company from the director during the year was as follows:

				2014	2013
				£	£
	A Harbert			9,204	8,010

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