Registered number
All Coin Ltd
Filleted Accounts
31 March 2017
All Coin Ltd
Registered number: 05375879
Balance Sheet
as at 31 March 2017
Notes 2017 2016
£ £
Fixed assets
Tangible assets 3 400 534
Current assets
Stocks 50,000 50,000
Debtors 4 5,079 10,611
Cash at bank and in hand 7,197 4,769
62,276 65,380
Creditors: amounts falling due within one year 5 (67,704) (65,657)
Net current liabilities (5,428) (277)
Total assets less current liabilities (5,028) 257
Provisions for liabilities (91) (91)
Net (liabilities)/assets (5,119) 166
Capital and reserves
Called up share capital 2 2
Profit and loss account (5,121) 164
Shareholder's funds (5,119) 166
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr S V Scammell
Approved by the board on 9 October 2017
All Coin Ltd
Notes to the Accounts
for the year ended 31 March 2017
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Going Concern
The financial statements have been prepared on the going concern basis. This is on the understanding that any losses will be borne by the company's shareholder.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 25% reducing balance
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2017 2016
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Motor vehicles
At 1 April 2016 3,000
At 31 March 2017 3,000
At 1 April 2016 2,466
Charge for the year 134
At 31 March 2017 2,600
Net book value
At 31 March 2017 400
At 31 March 2016 534
4 Debtors 2017 2016
£ £
Trade debtors 4,943 10,304
Other debtors 136 307
5,079 10,611
5 Creditors: amounts falling due within one year 2017 2016
£ £
Trade creditors 9,847 12,840
Other taxes and social security costs 1,802 1,048
Other creditors 56,055 51,769
67,704 65,657
6 Other information
All Coin Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Demar House, 14 Church Road
East Wittering
West Sussex
PO20 8PS
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