Registered Number 00750570

ACTION SEALS LTD

Abbreviated Accounts

31 March 2015

ACTION SEALS LTD Registered Number 00750570

Abbreviated Balance Sheet as at 31 March 2015

Notes 2015 2014
£ £
Fixed assets
Tangible assets 2 6,200 5,659
6,200 5,659
Current assets
Stocks 226,406 206,498
Debtors 417,410 438,613
Cash at bank and in hand 13,026 25,629
656,842 670,740
Creditors: amounts falling due within one year (91,379) (86,389)
Net current assets (liabilities) 565,463 584,351
Total assets less current liabilities 571,663 590,010
Provisions for liabilities (1,178) (360)
Total net assets (liabilities) 570,485 589,650
Capital and reserves
Called up share capital 3 20,000 20,000
Profit and loss account 550,485 569,650
Shareholders' funds 570,485 589,650
  • For the year ending 31 March 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 16 July 2015

And signed on their behalf by:
S J Quail, Director

ACTION SEALS LTD Registered Number 00750570

Notes to the Abbreviated Accounts for the period ended 31 March 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Income is recognised on an accruals basis according to delivery of the goods supplied.

Tangible assets depreciation policy
Fixtures, fittings & office equipment - 10% on cost
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
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit and loss account in the period to which they relate.

2Tangible fixed assets
£
Cost
At 1 April 2014 18,026
Additions 1,832
Disposals -
Revaluations -
Transfers -
At 31 March 2015 19,858
Depreciation
At 1 April 2014 12,367
Charge for the year 1,291
On disposals -
At 31 March 2015 13,658
Net book values
At 31 March 2015 6,200
At 31 March 2014 5,659
3Called Up Share Capital
Allotted, called up and fully paid:
2015
£
2014
£
20,000 Ordinary shares of £1 each 20,000 20,000

The company is a wholly owned subsidiary of Beachbreeze Limited, a company registered in England & Wales.

4Transactions with directors

Name of director receiving advance or credit: S J Quail
Description of the transaction: Loan
Balance at 1 April 2014: £ 9,221
Advances or credits made: £ 31,874
Advances or credits repaid: £ 41,051
Balance at 31 March 2015: £ 44

During the year the director S J Quail, was advanced £31,874, in small and varying transactions, none of which were material in nature.
£41,501 was repaid. The loan is interest free with no formal repayment schedule.