Registered Number 00750570
ACTION SEALS LTD
Abbreviated Accounts
31 March 2014
Notes | 2014 | 2013 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Current assets | |||
Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
( |
( |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 3 |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
And signed on their behalf by:
1Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
Computer equipment - 33% on cost
Fixed assets are reviewed on a regular basis. Any amendments to the estimated economic life of the assets is reflected in the depreciation charge.
Other accounting policies
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
£ | |
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Cost | |
At 1 April 2013 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 March 2014 |
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Depreciation | |
At 1 April 2013 |
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Charge for the year |
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On disposals |
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At 31 March 2014 |
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Net book values | |
At 31 March 2014 | 5,659 |
At 31 March 2013 | 3,923 |
4Transactions with directors
Name of director receiving advance or credit: | ||
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Description of the transaction: | ||
Balance at 1 April 2013: | ||
Advances or credits made: | £ |
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Advances or credits repaid: | £ |
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Balance at 31 March 2014: | £ |
£25,840 was repaid, leaving a balance of £9,221 due to the company at the year end.
This advance is interest free with no formal repayment schedule.