Affordable Access Hire Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 05643227 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31ST DECEMBER 2013

FOR

AFFORDABLE ACCESS HIRE LIMITED

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

3

FIXED ASSETS

Tangible assets

2

753,984

655,822

CURRENT ASSETS

Debtors

95,374

193,737

CREDITORS

Amounts falling due within one year

3

335,906

395,603

NET CURRENT LIABILITIES

(240,532

)

(201,866

)

TOTAL ASSETS LESS CURRENT LIABILITIES

513,452

453,956

CREDITORS

Amounts falling due after more than one year

3

(56,099

)

(94,688

)

PROVISIONS FOR LIABILITIES

(83,299

)

(58,626

)

NET ASSETS

374,054

300,642

CAPITAL AND RESERVES

Called up share capital

4

1,000

100

Profit and loss account

373,054

300,542

SHAREHOLDERS' FUNDS

374,054

300,642

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2013 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 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 director on 26th September 2014 and were signed by:

T Thornton - 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 the revenue generated by the company's operating activities, 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

5% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Deferred tax

Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different

from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences

which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply

when the timing differences reverse, based on current tax rates and laws.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire

purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over

their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital

element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the

lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st January 2013

833,770

Additions

175,128

Disposals

(46,500

)

At 31st December 2013

962,398

DEPRECIATION

At 1st January 2013

177,948

Charge for year

39,851

Eliminated on disposal

(9,385

)

At 31st December 2013

208,414

NET BOOK VALUE

At 31st December 2013

753,984

At 31st December 2012

655,822

3.

CREDITORS

Creditors include an amount of £ 157,630 (2012 - £ 178,035 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2013

2012

value:

£

£

1,000

A Ordinary

£1

1,000

100

(2012 - 100 )

900 A Ordinary shares of £1 each were allotted and fully paid for cash at par during the year.