Afendi Ltd - Period Ending 2016-03-31

Registration number: 09465024

Afendi Ltd
 
  Annual Report and Unaudited Abbreviated Accounts
 
  for the Period from 2 March 2015 to 31 March 2016

 

Drp + Co Accountants Limited
1st Floor, 6 St, John's Court
Swansea Enterprise Park
Swansea
SA6 8QQ

Afendi Ltd
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Afendi Ltd
(Registration number: 09465024)
Abbreviated Balance Sheet at 31 March 2016

		Note			31 March 2016 £
Fixed assets
Tangible fixed assets					220
Current assets
Stocks					15,763
Cash at bank and in hand					9,940
					25,703
Creditors: Amounts falling due within one year					(25,668)
Net current assets					35
Total assets less current liabilities					255
Provisions for liabilities					(44)
Net assets					211
Capital and reserves
Called up share capital		3			1
Profit and loss account					210
Shareholders' funds					211

For the year ending 31 March 2016 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 her 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 1 December 2016

.........................................
Miss Y Baig
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Afendi Ltd
Notes to the Abbreviated Accounts for the Period from 2 March 2015 to 31 March 2016
......... 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 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
Fixtures and Fittings	20% Reduced Balance

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.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

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 2

Afendi Ltd
Notes to the Abbreviated Accounts for the Period from 2 March 2015 to 31 March 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
Additions		275			275
At 31 March 2016		275			275
Depreciation
Charge for the period		55			55
At 31 March 2016		55			55
Net book value
At 31 March 2016		220			220

3	Share capital

Allotted, called up and fully paid shares

	31 March 2016
		No.			£
Ordinary of £1 each		1			1

Page 3