Allstarfencing (US) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC358877 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2019

FOR

ALLSTARFENCING (US) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

G Forster

REGISTERED OFFICE:

98/2 Eastfield Drive

Eastfield Industrial Estate

Penicuik

Midlothian

EH26 8HJ

REGISTERED NUMBER:

SC358877 (Scotland)

ACCOUNTANTS:

Macalvins Limited

Chartered Accountants

7 St John's Road

Harrow

Middlesex

HA1 2EY

BANKERS:

Metro Bank

One Southampton Row

London

WC1B 5HA

CURRENT ASSETS

Stocks

4

10,750

8,750

Debtors

5

4,493

5,984

Cash at bank

7,967

1,867

23,210

16,601

CREDITORS

Amounts falling due within one year

6

11,612

10,493

NET CURRENT ASSETS

11,598

6,108

TOTAL ASSETS LESS CURRENT LIABILITIES

11,598

6,108

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

11,597

6,107

SHAREHOLDERS' FUNDS

11,598

6,108

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2019 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 26 December 2019 and were signed by:

G Forster - Director

1.	STATUTORY INFORMATION

Allstarfencing (US) Limited is a private company, limited by shares , registered in Scotland. The company's

registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Revenue recognition

Revenue from sale of sportswear is recognised at point of sale.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

33.33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

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

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

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 rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 May 2018

and 30 April 2019

1,500

DEPRECIATION

At 1 May 2018

and 30 April 2019

1,500

NET BOOK VALUE

At 30 April 2019

-

At 30 April 2018

-

4.

STOCKS

2019

2018

£

£

Finished goods

10,750

8,750

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other debtors

4,435

5,808

VAT

58

176

4,493

5,984

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Corporation Tax payable

1,288

140

Director's current account

8,972

8,972

Accrued expenses

1,352

1,381

11,612

10,493

7.	RELATED PARTY DISCLOSURES

As at balance sheet date, included in other creditors is £8,972 (2018: £8,972), an amount owed to G Forster, the

director of the company. There are no fixed terms as to repayment of this amount.