Registered number
04596255
Afan Electrical Ltd
Abbreviated Accounts
31 October 2015
Afan Electrical Ltd
Report to the directors on the preparation of the unaudited abbreviated accounts of Afan Electrical Ltd for the year ended 31 October 2015
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of Afan Electrical Ltd for the year ended 31 October 2015 which comprise of the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of Afan Electrical Ltd, as a body, in accordance with the terms of our engagement letter dated 6 December 2002. Our work has been undertaken solely to prepare for your approval the accounts of Afan Electrical Ltd and state those matters that we have agreed to state to the Board of Directors of Afan Electrical Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Afan Electrical Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Afan Electrical Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Afan Electrical Ltd. You consider that Afan Electrical Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Afan Electrical Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the abbreviated accounts.
Kath Johnson
Chartered Certified Accountants
PO Box 101
Aberystwyth
SY23 4WB
22 July 2016
Afan Electrical Ltd
Registered number: 04596255
Abbreviated Balance Sheet
as at 31 October 2015
Notes 2015 2014
£ £
Fixed assets
Intangible assets 2 5,250 6,000
Tangible assets 3 549,566 504,068
554,816 510,068
Current assets
Stocks 5,000 5,000
Debtors 411,408 299,198
Cash at bank and in hand 142,689 244,681
559,097 548,879
Creditors: amounts falling due within one year (130,525) (115,072)
Net current assets 428,572 433,807
Total assets less current liabilities 983,388 943,875
Creditors: amounts falling due after more than one year (96,136) (103,395)
Net assets 887,252 840,480
Capital and reserves
Called up share capital 4 2 2
Profit and loss account 887,250 840,478
Shareholders' funds 887,252 840,480
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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 in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
E A Davies
Director
Approved by the board on 22 July 2016
Afan Electrical Ltd
Notes to the Abbreviated Accounts
for the year ended 31 October 2015
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and machinery 15% reducing balance
Motor vehicles 15% reducing balance
Stocks
Stock is valued at the lower of cost and net realisable value.
Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.
2 Intangible fixed assets £
Cost
At 1 November 2014 15,000
At 31 October 2015 15,000
Amortisation
At 1 November 2014 9,000
Provided during the year 750
At 31 October 2015 9,750
Net book value
At 31 October 2015 5,250
At 31 October 2014 6,000
3 Tangible fixed assets £
Cost
At 1 November 2014 638,695
Additions 102,460
Disposals (56,738)
At 31 October 2015 684,417
Depreciation
At 1 November 2014 134,627
Charge for the year 25,044
On disposals (24,820)
At 31 October 2015 134,851
Net book value
At 31 October 2015 549,566
At 31 October 2014 504,068
4 Share capital Nominal 2015 2015 2014
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each - 2 2
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