Adflex Limited - Abbreviated accounts 16.3

Adflex Limited - Abbreviated accounts 16.3


025795761.3.1529.2.1629.2.16Company accountsPrivate Limited CompanyFYtruefalsetruefalsefalsefalsetruefalseOrdinary1.00000iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure025795762015-02-28025795762016-02-29025795762015-03-012016-02-29025795762014-02-28025795762014-03-012015-02-28025795762015-02-2802579576ns12:England2015-03-012016-02-2902579576ns14:PoundSterling2015-03-012016-02-2902579576ns7:Director12015-03-012016-02-2902579576ns7:OrdinaryShareClass12015-03-012016-02-2902579576ns7:Director22015-03-012016-02-2902579576ns7:CompanySecretary2015-03-012016-02-2902579576ns7:RegisteredOffice2015-03-012016-02-2902579576ns7:EntityAccountantsOrAuditors2015-03-012016-02-2902579576ns5:InvestmentProperties2016-02-2902579576ns5:InvestmentProperties2015-02-2802579576ns5:FixturesFittings2015-03-012016-02-2902579576ns5:InvestmentProperties2015-02-2802579576ns5:InvestmentProperties2015-03-012016-02-2902579576ns7:OrdinaryShareClass12016-02-2902579576ns7:OrdinaryShareClass12015-02-28
REGISTERED NUMBER: 02579576(England and Wales)















Adflex Limited

Abbreviated Unaudited Accounts for the Year Ended 29 February 2016






Adflex Limited (Registered number: 02579576)

Contents of the Abbreviated Accounts
for the Year Ended 29 February 2016










Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

Adflex Limited

Company Information
for the Year Ended 29 February 2016







DIRECTORS: P Bermingham
D Hughes





SECRETARY: D Hughes





REGISTERED OFFICE: Burntwood House
7 Shenfield Road
Brentwood
Essex
CM15 8AG





REGISTERED NUMBER: 02579576(England and Wales)





ACCOUNTANTS: Haines Watts Exeter LLP
1A Parliament Square
Parliament Street
Crediton
Devon
EX17 2AW

Adflex Limited (Registered number: 02579576)

Abbreviated Balance Sheet
29 February 2016

2016 2015
Notes £    £   
FIXED ASSETS
Tangible assets 2 49,295 36,281
Investment property 3 545,000 365,001
594,295 401,282

CURRENT ASSETS
Debtors 205,433 243,002
Cash at bank 1,433,043 1,203,316
1,638,476 1,446,318
CREDITORS
Amounts falling due within one year 4 (230,017 ) (355,864 )
NET CURRENT ASSETS 1,408,459 1,090,454
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,002,754

1,491,736

CREDITORS
Amounts falling due after more than one
year

4

(196,823

)

(202,106

)

PROVISIONS FOR LIABILITIES (9,430 ) (6,733 )
NET ASSETS 1,796,501 1,282,897

CAPITAL AND RESERVES
Called up share capital 5 2 2
Revaluation reserve 441,094 261,095
Profit and loss account 1,355,405 1,021,800
SHAREHOLDERS' FUNDS 1,796,501 1,282,897

Adflex Limited (Registered number: 02579576)

Abbreviated Balance Sheet - continued
29 February 2016


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2016 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 2 February 2017and were signed on
its behalf by:





P Bermingham- Director


Adflex Limited (Registered number: 02579576)

Notes to the Abbreviated Accounts
for the Year Ended 29 February 2016


1. ACCOUNTING POLICIES

Accounting convention
The financial statements have been prepared under the historical cost convention as modified by the
revaluation of certain assets and in accordance with the Financial Reporting Standard for Smaller
Entities (effective January 2015).

Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the
year and derives from the provision of services falling within the company's ordinary activities.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures, fittings and equipment - 25% reducing balance

Investment properties
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from
changes in market value is transferred to a revaluation reserve.

In accordance with the Financial Reporting Standard for Smaller Entities, no depreciation has been
provided in respect of freehold investment properties. This departure from the requirements of the
Companies Act 2006 for all properties to be depreciated is, in the opinion of the directors, necessary
for the financial statements to give a true and fair view in accordance with applicable accounting
standards as fixed asset properties are included in the financial statements at open market value.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at
the balance sheet date.

Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the
rates of exchange prevailing at the accounting date. Transactions in foreign currencies are recorded
at the date of the transactions. All differences are taken to the Profit and Loss account.

2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 March 2015 125,658
Additions 29,445
At 29 February 2016 155,103
DEPRECIATION
At 1 March 2015 89,377
Charge for year 16,431
At 29 February 2016 105,808
NET BOOK VALUE
At 29 February 2016 49,295
At 28 February 2015 36,281

Adflex Limited (Registered number: 02579576)

Notes to the Abbreviated Accounts - continued
for the Year Ended 29 February 2016


3. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 March 2015 365,001
Revaluations 179,999
At 29 February 2016 545,000
NET BOOK VALUE
At 29 February 2016 545,000
At 28 February 2015 365,001

4. CREDITORS

Creditors include an amount of £ 201,741 (2015 - £ 206,658 ) for which security has been given.

They also include the following debts falling due in more than five years:

2016 2015
£    £   
Repayable by instalments 177,129 183,878

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2016 2015
value: £    £   
2 Ordinary £1 2 2