SEW TRADE LIMITED | |||||||||||
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED | |||||||||||
31 JULY 2014 | |||||||||||
Company Registration Number: 04478962 | |||||||||||
SEW TRADE LIMITED | ||||||||||
ABBREVIATED FINANCIAL STATEMENTS | ||||||||||
FOR THE YEAR ENDED 31 JULY 2014 | ||||||||||
CONTENTS | PAGES | |||||||||
Company information | 1 | |||||||||
Balance sheet | 2 to 3 | |||||||||
Notes to the abbreviated financial statements | 4 to 6 | |||||||||
SEW TRADE LIMITED | |||||||||||
COMPANY INFORMATION | |||||||||||
FOR THE YEAR ENDED 31 JULY 2014 | |||||||||||
DIRECTOR | |||||||||||
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SECRETARY | |||||||||||
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REGISTERED OFFICE | |||||||||||
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COMPANY REGISTRATION NUMBER | |||||||||||
04478962 England and Wales | |||||||||||
SEW TRADE LIMITED | |||||||||||
BALANCE SHEET | |||||||||||
AS AT |
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Notes | 2014 | 2013 | |||||||||
£ | £ | ||||||||||
FIXED ASSETS | |||||||||||
Intangible assets | 2 |
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Tangible assets | 3 |
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CURRENT ASSETS | |||||||||||
Stock |
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Debtors |
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Cash at bank and in hand | - |
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CREDITORS: Amounts falling due |
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within one year | |||||||||||
NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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Provisions for liabilities and charges |
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NET ASSETS |
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CAPITAL AND RESERVES | |||||||||||
Called up share capital | 4 |
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Profit and loss account |
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SHAREHOLDERS' FUNDS |
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Signed on behalf of the board | |||||||||||
Mrs C Morris | |||||||||||
Director | |||||||||||
Date approved by the board: |
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SEW TRADE LIMITED | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 31 JULY 2014 | |||||||||||
1 | STATEMENT OF ACCOUNTING POLICIES | ||||||||||
Accounting convention | |||||||||||
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Turnover | |||||||||||
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Intangible fixed assets | |||||||||||
Intangible fixed assets are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable. | |||||||||||
Tangible fixed assets | |||||||||||
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Depreciation has been provided at the following rates so as to write off the cost less residual value of the assets over their estimated useful lives. | |||||||||||
Fixtures and fittings |
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Computer software |
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Stock | |||||||||||
Stock has been valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow-moving items. Cost comprises the cost of goods purchased valued on a standard cost basis. Net realisable value is based on estimated selling price less all further costs incurred to get the stock into its normal sale condition (including marketing, selling and distribution costs). | |||||||||||
Financial instruments | |||||||||||
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Deferred taxation | |||||||||||
Deferred taxation is the taxation attributable to timing differences between profits computed for taxation purposes and profits as stated in the financial statements and is fully provided for, except in circumstances where losses are deemed irrecoverable, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. | |||||||||||
1 | STATEMENT OF ACCOUNTING POLICIES (continued…) | ||||||||||
Foreign currencies | |||||||||||
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2 | INTANGIBLE ASSETS | ||||||||||
Intangible assets | |||||||||||
£ | |||||||||||
Cost | |||||||||||
At 1 August 2013 |
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At 31 July 2014 |
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Net book value | |||||||||||
At 1 August 2013 |
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At 31 July 2014 |
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3 | TANGIBLE ASSETS | ||||||||||
Tangible assets | |||||||||||
£ | |||||||||||
Cost | |||||||||||
At 1 August 2013 |
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At 31 July 2014 |
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Accumulated depreciation | |||||||||||
At 1 August 2013 |
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Charge for year |
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At 31 July 2014 |
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Net book value | |||||||||||
At 1 August 2013 |
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At 31 July 2014 |
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4 | SHARE CAPITAL | ||||||||||
Nominal value | Number | 2014 | 2013 | ||||||||
£ | £ | £ | |||||||||
Allotted, called up and fully paid: | |||||||||||
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5 | DIRECTOR'S TRANSACTIONS | ||||||||||
The company made an advance to the director during the year. The following amount was due to the company at the year end: | |||||||||||
2014 | 2013 | ||||||||||
£ | £ | ||||||||||
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12,321 | |||||||||
The maximum amount due to the company from the director during the year was as follows: | |||||||||||
2014 | 2013 | ||||||||||
£ | £ | ||||||||||
Mrs C Morris | 26,469 | 13,193 | |||||||||