Company Registration No. 02754167 (England and Wales)
AVON ADHESIVE PRODUCTS LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2015
AVON ADHESIVE PRODUCTS LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
AVON ADHESIVE PRODUCTS LTD
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2015
31 December 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
187,418
250,393
Current assets
Stocks
54,672
41,780
Debtors
165,448
147,466
Cash at bank and in hand
83,129
42,907
303,249
232,153
Creditors: amounts falling due within one year
(272,017)
(296,662)
Net current assets/(liabilities)
31,232
(64,509)
Total assets less current liabilities
218,650
185,884
Provisions for liabilities
(34,494)
(41,433)
184,156
144,451
Capital and reserves
Called up share capital
3
130
130
Profit and loss account
184,026
144,321
Shareholders' funds
184,156
144,451
For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board and authorised for issue on 24 February 2016
Mrs PJ Dimond
Director
Company Registration No. 02754167
AVON ADHESIVE PRODUCTS LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
25% reducing balance
Motor vehicles
25% reducing balance
1.5
Stock
Stock is valued at the lower of cost and net realisable value.
1.6
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
2
Fixed assets
Tangible assets
£
Cost
At 1 January 2015
994,102
Disposals
(47,300)
At 31 December 2015
946,802
Depreciation
At 1 January 2015
743,709
On disposals
(46,800)
Charge for the year
62,475
At 31 December 2015
759,384
Net book value
At 31 December 2015
187,418
At 31 December 2014
250,393
AVON ADHESIVE PRODUCTS LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2015
- 3 -
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
100 A Ordinary of £1 each
100
100
30 B Ordinary of £1 each
30
30
130
130