Abbreviated Company Accounts - AMAZON MEDICAL LIMITED
Abbreviated Company Accounts - AMAZON MEDICAL LIMITED
Registered Number 03102071
AMAZON MEDICAL LIMITED
Abbreviated Accounts
30 April 2016
AMAZON MEDICAL LIMITED Registered Number 03102071
Abbreviated Balance Sheet as at 30 April 2016
Notes | 2016 | 2015 | |
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£ | £ | ||
Called up share capital not paid |
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Fixed assets | |||
Tangible assets | 2 |
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Current assets | |||
Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year | 3 |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year | 3 |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 4 |
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Profit and loss account |
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Shareholders' funds |
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For the year ending 30 April 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 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
And signed on their behalf by:
AMAZON MEDICAL LIMITED Registered Number 03102071
Notes to the Abbreviated Accounts for the period ended 30 April 2016
1Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
Plant, machinery, fixtures, fittings and office equipment: 20-25% straight line
Motor vehicles: 25% straight line
Other accounting policies
At the 30 April 2016, the company had net liabilities of £45,666 (2015 net assets: £1,046) and made a loss before tax of £46,712 (2015: £13,872). The company is reliant on funding from the director's loan account which will continue to be provided for the foreseeable future. The director therefore considers the company to be a going concern and has adopted the going concern basis of accounting in the preparation of the financial statements.
Leasing and hire purchase
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
Deferred tax
Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation.
A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse.
Deferred tax assets and liabilities are not discounted.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date.
Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.
Exchange gains and losses are recognised in the profit and loss account.
£ | |
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Cost | |
At 1 May 2015 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 30 April 2016 |
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Depreciation | |
At 1 May 2015 |
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Charge for the year |
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On disposals |
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At 30 April 2016 |
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Net book values | |
At 30 April 2016 | 523 |
At 30 April 2015 | 3,512 |
2016
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2015
£ |
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Secured Debts |
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5Transactions with directors
Name of director receiving advance or credit: | ||
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Description of the transaction: | ||
Balance at 1 May 2015: | £ |
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Advances or credits made: | ||
Advances or credits repaid: | ||
Balance at 30 April 2016: | £ |
Name of director receiving advance or credit: | ||
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Description of the transaction: | ||
Balance at 1 May 2015: | £ |
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Advances or credits made: | ||
Advances or credits repaid: | £ |
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Balance at 30 April 2016: | £ |