Company Registration No. 05680671 (England and Wales)
ST ANNS TEXTILES LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
ST ANNS TEXTILES LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ST ANNS TEXTILES LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
2,283
2,969
Current assets
Stocks
15,459
16,630
Debtors
3,720
408
Cash at bank and in hand
168
1,720
19,347
18,758
Creditors: amounts falling due within one year
(26,766)
(35,341)
Net current liabilities
(7,419)
(16,583)
Total assets less current liabilities
(5,136)
(13,614)
Capital and reserves
Called up share capital
3
2
2
Profit and loss account
(5,138)
(13,616)
Shareholders' funds
(5,136)
(13,614)
For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 25 November 2016
Mr A R Crofts
Director
Company Registration No. 05680671
ST ANNS TEXTILES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
The company continues to trade as a going concern due to the ongoing support from the director.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment
15% reducing balance
Motor vehicles
25% reducing balance
1.5
Stock
Stock is valued at the lower of cost and net realisable value.
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2015 & at 31 March 2016
15,950
Depreciation
At 1 April 2015
12,981
Charge for the year
686
At 31 March 2016
13,667
Net book value
At 31 March 2016
2,283
At 31 March 2015
2,969
ST ANNS TEXTILES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
2 Ordinary shares of £1 each
2
2