Amyco Industrial Doors Ltd. - Period Ending 2015-03-31

Registration number: 01741841

Amyco Industrial Doors Ltd.

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2015
 

Parker Business Development Limited
Chartered Accountants
Dominion Court
43 Station Road
Solihull
B91 3RT

Amyco Industrial Doors Ltd.
(Registration number: 01741841)
Abbreviated Balance Sheet at 31 March 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					19,249			14,219
Current assets
Stocks					16,850			20,250
Debtors					226,275			182,100
Cash at bank and in hand					262,947			223,184
					506,072			425,534
Creditors: Amounts falling due within one year					(210,155)			(152,639)
Net current assets					295,917			272,895
Total assets less current liabilities					315,166			287,114
Creditors: Amounts falling due after more than one year					(8,593)			(2,201)
Net assets					306,573			284,913
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					306,473			284,813
Shareholders' funds					306,573			284,913

For the year ending 31 March 2015 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 director acknowledges his 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 director on 4 December 2015

.........................................
M Grady
Director

The notes on pages 2 to 4 form an integral part of these financial statements.
Page 1

Amyco Industrial Doors Ltd.
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	20% reducing balance
Fixtures and fittings	20% reducing balance
Motor vehicles	25% straight line

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Page 2

Amyco Industrial Doors Ltd.
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2014		213,057			213,057
Additions		13,119			13,119
At 31 March 2015		226,176			226,176
Depreciation
At 1 April 2014		198,838			198,838
Charge for the year		8,089			8,089
At 31 March 2015		206,927			206,927
Net book value
At 31 March 2015		19,249			19,249
At 31 March 2014		14,219			14,219

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

Page 3

Amyco Industrial Doors Ltd.
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

4	Related party transactions

Director's advances and credits

	2015 Advance/ Credit £	2015 Repaid £	2014 Advance/ Credit £	2014 Repaid £
M Grady
Various loans drawn	4,602	-	11,821	-

Page 4