Asset Handling Limited - Period Ending 2015-12-31

Registration number: 07063735

Asset Handling Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2015
 

McParland Williams Limited
Accountants and Tax Practitioners
13 Liverpool Road North
Maghull
Merseyside
L31 2HB

Asset Handling Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

Asset Handling Limited
(Registration number: 07063735)
Abbreviated Balance Sheet at 31 December 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					5,051			4,132
Current assets
Stocks					12,000			32,081
Debtors					143,121			97,665
Cash at bank and in hand					24,896			14,912
					180,017			144,658
Creditors: Amounts falling due within one year					(184,451)			(148,037)
Net current liabilities					(4,434)			(3,379)
Net assets					617			753
Capital and reserves
Called up share capital		3			400			400
Capital redemption reserve					200			200
Profit and loss account					17			153
Shareholders' funds					617			753

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 1

Asset Handling Limited
(Registration number: 07063735)
Abbreviated Balance Sheet at 31 December 2015
......... continued

For the year ending 31 December 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 directors acknowledge their 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 Board on 5 August 2016 and signed on its behalf by:

.........................................
Mr Stephen Robert Harrison
Director

.........................................
Mr Steven Edgson
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Asset Handling Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 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 January 2015).

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
Office equipment	33% reducing balance

Stock and work in progress

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.

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.

Page 3

Asset Handling Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2015		10,393			10,393
Additions		2,960			2,960
At 31 December 2015		13,353			13,353
Depreciation
At 1 January 2015		6,261			6,261
Charge for the year		2,041			2,041
At 31 December 2015		8,302			8,302
Net book value
At 31 December 2015		5,051			5,051
At 31 December 2014		4,132			4,132

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary A of £1 each		-			-			-			-
Ordinary B of £1 each		100			100			100			100
Ordinary C of £1 each		-			-			-			-
Ordinary D of £1 each		100			100			100			100
Ordinary E of £1 each		100			100			100			100
Ordinary F of £1 each		100			100			100			100
		400			400			400			400

Page 4