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A D Sales Limited trading as Newquay & St Austell Voice

Annual Report and Unaudited Financial Statements
Year Ended 31 July 2019

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 9

 

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 2019

Note

2019
£

2018
£

Fixed assets

 

Tangible assets

4

19,780

22,549

Current assets

 

Debtors

5

100,883

91,181

Cash at bank and in hand

 

1,685

14,106

 

102,568

105,287

Creditors: Amounts falling due within one year

6

(55,044)

(51,599)

Net current assets

 

47,524

53,688

Total assets less current liabilities

 

67,304

76,237

Provisions for liabilities

(1,300)

(1,786)

Net assets

 

66,004

74,451

Capital and reserves

 

Called up share capital

50

50

Profit and loss account

65,954

74,401

Total equity

 

66,004

74,451

 

A D Sales Limited

trading as Newquay & St Austell Voice

Balance Sheet

31 July 2019

For the financial year ending 31 July 2019 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 15 November 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 2019

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 15 November 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 2019

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 2019

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 13 (2018 - 15).

 

A D Sales Limited

trading as Newquay & St Austell Voice

Notes to the Financial Statements

Year Ended 31 July 2019

4

Tangible assets

Leasehold property improvements
£

Motor vehicles
 £

Plant and equipment
 £

Total
£

Cost or valuation

At 1 August 2018

11,473

23,116

52,050

86,639

At 31 July 2019

11,473

23,116

52,050

86,639

Depreciation

At 1 August 2018

-

17,148

46,942

64,090

Charge for the year

-

1,492

1,277

2,769

At 31 July 2019

-

18,640

48,219

66,859

Carrying amount

At 31 July 2019

11,473

4,476

3,831

19,780

At 31 July 2018

11,473

5,968

5,108

22,549

5

Debtors

2019
£

2018
£

Trade debtors

65,128

51,782

Other debtors

31,523

35,818

Prepayments

4,232

3,581

100,883

91,181

 

A D Sales Limited

trading as Newquay & St Austell Voice

Notes to the Financial Statements

Year Ended 31 July 2019

6

Creditors

Creditors: amounts falling due within one year

Note

2019
£

2018
 £

Due within one year

 

Loans and borrowings

7

4,844

-

Trade creditors

 

16,704

22,984

Corporation tax

15,355

8,406

Social security and other taxes

 

13,426

15,703

Outstanding defined contribution pension costs

 

1,586

1,106

Accrued expenses

 

3,129

3,400

 

55,044

51,599

7

Loans and borrowings

2019
£

2018
£

Current loans and borrowings

Bank overdrafts

4,844

-

8

Share capital

Allotted, called up and fully paid shares

 

2019

2018

 

No.

£

No.

£

Ordinary shares of £ 1 each

50

50

50

50

         
 

A D Sales Limited

trading as Newquay & St Austell Voice

Notes to the Financial Statements

Year Ended 31 July 2019

9

Related party transactions

Advances to directors

2019

At 1 August 2018
£

Advances to director
£

Repayments by director
£

At 31 July 2019
£

Mr A Laming

Director's loan

35,818

34,303

(38,600)

31,521

         
         

 

2018

At 1 August 2017
£

Advances to director
£

Repayments by director
£

At 31 July 2018
£

Mr A Laming

Director's loan

27,123

41,489

(32,794)

35,818