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A D Sales Limited trading as Newquay & St Austell Voice

Annual Report and Unaudited Financial Statements
Year Ended 31 July 2017

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 2017

Note

2017
£

2016
£

Fixed assets

 

Tangible assets

4

26,241

28,893

Current assets

 

Debtors

5

107,955

116,428

Cash at bank and in hand

 

8,117

20,892

 

116,072

137,320

Creditors: Amounts falling due within one year

6

(68,472)

(101,554)

Net current assets

 

47,600

35,766

Total assets less current liabilities

 

73,841

64,659

Provisions for liabilities

(2,440)

(3,042)

Net assets

 

71,401

61,617

Capital and reserves

 

Called up share capital

50

50

Profit and loss account

71,351

61,567

Total equity

 

71,401

61,617

 

A D Sales Limited

trading as Newquay & St Austell Voice

Balance Sheet

31 July 2017

For the financial year ending 31 July 2017 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 delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

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.

Approved and authorised by the director on 26 April 2018
 

.........................................

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 2017

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 26 April 2018.

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.

Change in basis of accounting

The company's financial statements have been prepared in accordance with FRS102 - the Financial Reporting Standard applicable in the UK and Republic of Ireland. The company has transferred from previously extant UK GAAP to FRS102 as at 1 January 2014. There is no material impact on the reported financial position and financial performance.

Tangible assets

Tangible assets are stated in the statement of financial position 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

 

A D Sales Limited

trading as Newquay & St Austell Voice

Notes to the Financial Statements

Year Ended 31 July 2017

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 2017

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 16 (2016 - 19).

 

A D Sales Limited

trading as Newquay & St Austell Voice

Notes to the Financial Statements

Year Ended 31 July 2017

4

Tangible assets

Leasehold land and buildings
£

Motor vehicles
 £

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 August 2016

11,473

23,116

49,780

84,369

Additions

-

-

2,270

2,270

At 31 July 2017

11,473

23,116

52,050

86,639

Depreciation

At 1 August 2016

-

12,507

42,969

55,476

Charge for the year

-

2,652

2,270

4,922

At 31 July 2017

-

15,159

45,239

60,398

Carrying amount

At 31 July 2017

11,473

7,957

6,811

26,241

At 31 July 2016

11,473

10,609

6,811

28,893

5

Debtors

2017
 £

2016
 £

Trade debtors

74,802

99,345

Other debtors

27,123

-

Prepayments

6,030

17,083

107,955

116,428

 

A D Sales Limited

trading as Newquay & St Austell Voice

Notes to the Financial Statements

Year Ended 31 July 2017

6

Creditors

Note

2017
 £

2016
 £

Due within one year

 

Trade creditors

 

26,471

27,846

Social security and other taxes

 

27,919

26,564

Outstanding defined contribution pension costs

 

486

-

Other creditors

 

5,860

32,944

Accrued expenses

 

4,915

3,950

Corporation tax

2,821

10,250

 

68,472

101,554

7

Related party transactions

Advances to directors

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

         
         

 

2016

At 1 August 2015
£

Advances to director
£

Repayments by director
£

At 31 July 2016
£

Mr A Laming

Director's loan

(3,539)

10,194

(30,600)

(23,945)