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A D Sales Limited trading as Newquay & St Austell Voice

Annual Report and Unaudited Financial Statements
Year Ended 31 July 2018

Registration number: 03604596

 

A D Sales Limited

trading as Newquay & St Austell Voice

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 8

 

A D Sales Limited

trading as Newquay & St Austell Voice

Company Information

Director

Mr A Laming

Registered office

Trevena House
11 Trevena Terrace
Newquay
Cornwall
TR7 1LJ

Accountants

Francis Clark LLP
Lowin House
Tregolls Road
Truro
Cornwall
TR1 2NA

 

A D Sales Limited

trading as Newquay & St Austell Voice

Balance Sheet

31 July 2018

Note

2018
£

2017
£

Fixed assets

 

Tangible assets

4

22,549

26,241

Current assets

 

Debtors

5

91,181

107,955

Cash at bank and in hand

 

14,106

8,117

 

105,287

116,072

Creditors: Amounts falling due within one year

6

(51,599)

(68,472)

Net current assets

 

53,688

47,600

Total assets less current liabilities

 

76,237

73,841

Provisions for liabilities

(1,786)

(2,440)

Net assets

 

74,451

71,401

Capital and reserves

 

Called up share capital

50

50

Profit and loss account

74,401

71,351

Total equity

 

74,451

71,401

 

A D Sales Limited

trading as Newquay & St Austell Voice

Balance Sheet

31 July 2018

For the financial year ending 31 July 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 13 March 2019
 

.........................................
Mr A Laming
Director

   
     

Company Registration Number: 03604596

 

A D Sales Limited

trading as Newquay & St Austell Voice

Notes to the Financial Statements

Year Ended 31 July 2018

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Trevena House
11 Trevena Terrace
Newquay
Cornwall
TR7 1LJ

These financial statements were authorised for issue by the director on 13 March 2019.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tax

Tax is recognised in profit or loss.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 

A D Sales Limited

trading as Newquay & St Austell Voice

Notes to the Financial Statements

Year Ended 31 July 2018

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Motor vehicles

25% reducing balance

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

A D Sales Limited

trading as Newquay & St Austell Voice

Notes to the Financial Statements

Year Ended 31 July 2018

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.


 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 15 (2017 - 16).

 

A D Sales Limited

trading as Newquay & St Austell Voice

Notes to the Financial Statements

Year Ended 31 July 2018

4

Tangible assets

Leasehold land and buildings
£

Motor vehicles
 £

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 August 2017

11,473

23,116

52,050

86,639

At 31 July 2018

11,473

23,116

52,050

86,639

Depreciation

At 1 August 2017

-

15,159

45,239

60,398

Charge for the year

-

1,989

1,703

3,692

At 31 July 2018

-

17,148

46,942

64,090

Carrying amount

At 31 July 2018

11,473

5,968

5,108

22,549

At 31 July 2017

11,473

7,957

6,811

26,241

5

Debtors

2018
 £

2017
 £

Trade debtors

51,782

74,802

Other debtors

35,818

27,123

Prepayments

3,581

6,030

91,181

107,955

 

A D Sales Limited

trading as Newquay & St Austell Voice

Notes to the Financial Statements

Year Ended 31 July 2018

6

Creditors

Creditors: amounts falling due within one year

2018
 £

2017
 £

Due within one year

Trade creditors

22,984

26,471

Corporation tax

8,406

2,821

Social security and other taxes

15,703

27,919

Outstanding defined contribution pension costs

1,106

486

Other creditors

-

5,860

Accrued expenses

3,400

4,915

51,599

68,472

7

Share capital

Allotted, called up and fully paid shares

 

2018

2017

 

No.

£

No.

£

Ordinary shares of £ 1 each

50

50

50

50

         

8

Related party transactions

Advances to directors

2018

At 1 August 2017
£

Advances to director
£

Repayments by director
£

At 31 July 2018
£

Mr A Laming

Director's loan

27,123

8,695

-

35,818

         
         

 

2017

At 1 August 2016
£

Advances to director
£

Repayments by director
£

At 31 July 2017
£

Mr A Laming

Director's loan

(23,945)

51,068

-

27,123