Advanced Factors Ltd. - Abbreviated accounts 16.3

REGISTERED NUMBER: 07003446 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2016

FOR

ADVANCED FACTORS LTD.

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

M R Windheuser

M P Windheuser

S Horner

SECRETARY:

M R Windheuser

REGISTERED OFFICE:

3 The Mews

16 Hollybrush Lane

Sevenoaks

Kent

TN13 3TH

REGISTERED NUMBER:

07003446 (England and Wales)

ACCOUNTANTS:

Upton Neenan Lees

Chartered Accountants

21-23 Croydon Road

Caterham

Surrey

CR3 6PA

FIXED ASSETS

Tangible assets

2

10,047

11,631

CURRENT ASSETS

Stocks

312,495

288,678

Debtors

388,784

330,557

701,279

619,235

CREDITORS

Amounts falling due within one year

(696,111

)

(615,993

)

NET CURRENT ASSETS

5,168

3,242

TOTAL ASSETS LESS CURRENT
LIABILITIES

15,215

14,873

CAPITAL AND RESERVES

Called up share capital

3

100

Profit and loss account

15,115

14,773

SHAREHOLDERS' FUNDS

15,215

14,873

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 24 May 2017 and were signed on its behalf by:

M R Windheuser - 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 January 2015).

Turnover

Turnover represents net invoiced sales of goods, 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.

Plant and machinery etc

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving

items.

Deferred tax

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are

charged to the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2015

29,870

Additions

796

At 31 August 2016

30,666

DEPRECIATION

At 1 September 2015

18,239

Charge for year

2,380

At 31 August 2016

20,619

NET BOOK VALUE

At 31 August 2016

10,047

At 31 August 2015

11,631

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.16

31.8.15

value:

£

100

Ordinary

£1

100