Abbreviated Company Accounts - ADFLEX LIMITED

Abbreviated Company Accounts - ADFLEX LIMITED


Registered Number 02579576

ADFLEX LIMITED

Abbreviated Accounts

28 February 2014

ADFLEX LIMITED Registered Number 02579576

Abbreviated Balance Sheet as at 28 February 2014

Notes 2014 2013
£ £
Fixed assets
Tangible assets 2 45,201 48,076
Investments 3 365,001 365,001
410,202 413,077
Current assets
Debtors 249,907 347,646
Cash at bank and in hand 608,325 287,969
858,232 635,615
Creditors: amounts falling due within one year 4 (181,722) (215,675)
Net current assets (liabilities) 676,510 419,940
Total assets less current liabilities 1,086,712 833,017
Creditors: amounts falling due after more than one year 4 (207,965) (211,949)
Provisions for liabilities (8,402) (9,279)
Total net assets (liabilities) 870,345 611,789
Capital and reserves
Called up share capital 5 2 2
Revaluation reserve 261,095 261,095
Profit and loss account 609,248 350,692
Shareholders' funds 870,345 611,789
  • For the year ending 28 February 2014 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 28 November 2014

And signed on their behalf by:
Pat Bermingham, Director

ADFLEX LIMITED Registered Number 02579576

Notes to the Abbreviated Accounts for the period ended 28 February 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
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 assets depreciation policy
Depreciation is provided at the following annual rates in order to write off each asset over ots estimated useful life.

Fixtures, fittings and equipment - 25% reducing balance

Other accounting policies
Investment properties - 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.

2Tangible fixed assets
£
Cost
At 1 March 2013 110,255
Additions 12,192
Disposals -
Revaluations -
Transfers -
At 28 February 2014 122,447
Depreciation
At 1 March 2013 62,179
Charge for the year 15,067
On disposals -
At 28 February 2014 77,246
Net book values
At 28 February 2014 45,201
At 28 February 2013 48,076

3Fixed assets Investments
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.

4Creditors
2014
£
2013
£
Secured Debts 212,302 216,645
Instalment debts due after 5 years 207,965 211,949
5Called Up Share Capital
Allotted, called up and fully paid:
2014
£
2013
£
2Ordinary shares of £1 each 2 2