Advanced Factors Ltd. - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 07003446 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2014

FOR

ADVANCED FACTORS LTD.

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

M R Windheuser

M P Windheuser

SECRETARY:

M R Windheuser

REGISTERED OFFICE:

3 The Mews

16 Hollybrush Lane

Sevenoaks

Kent

TN13 3TH

REGISTERED NUMBER:

07003446 (England and Wales)

ACCOUNTANTS:

Upton Neenan Lees

Chartered Accountants

21-23 Croydon Road

Caterham

Surrey

CR3 6PA

FIXED ASSETS

Tangible assets

2

20,372

26,828

CURRENT ASSETS

Stocks

273,225

267,984

Debtors

293,672

282,391

Cash at bank

-

2,817

566,897

553,192

CREDITORS

Amounts falling due within one year

(572,434

)

(551,145

)

NET CURRENT (LIABILITIES)/ASSETS

(5,537

)

2,047

TOTAL ASSETS LESS CURRENT LIABILITIES

14,835

28,875

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

14,735

28,775

SHAREHOLDERS' FUNDS

14,835

28,875

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

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

The directors acknowledge their 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 Board of Directors on 29 May 2015 and were signed on its behalf by:

M R Windheuser - 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

Turnover represents net invoiced sales of goods, excluding value added tax.

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 etc

-

25% 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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2013

44,460

Additions

1,412

Disposals

(4,950

)

At 31 August 2014

40,922

DEPRECIATION

At 1 September 2013

17,632

Charge for year

5,620

Eliminated on disposal

(2,702

)

At 31 August 2014

20,550

NET BOOK VALUE

At 31 August 2014

20,372

At 31 August 2013

26,828

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.14

31.8.13

value:

£

£

100

Ordinary

£1

100

100