Company Registration No. 05700927 (England and Wales)
A. J. BESPOKE FURNITURE & JOINERY LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2015
A. J. BESPOKE FURNITURE & JOINERY LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
A. J. BESPOKE FURNITURE & JOINERY LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2015
31 March 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
6,149
7,686
Current assets
Stocks
76,380
83,504
Debtors
6,810
5,024
Cash at bank and in hand
10,547
8
93,737
88,536
Creditors: amounts falling due within one year
3
(135,064)
(115,588)
Net current liabilities
(41,327)
(27,052)
Total assets less current liabilities
(35,178)
(19,366)
Creditors: amounts falling due after more than one year
-
(13,200)
(35,178)
(32,566)
Capital and reserves
Called up share capital
4
2
2
Profit and loss account
(35,180)
(32,568)
Shareholders' funds
(35,178)
(32,566)
For the financial year ended 31 March 2015 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 1 December 2015
Mr A P Visavadia
Director
Company Registration No. 05700927
A. J. BESPOKE FURNITURE & JOINERY LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
- 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 April 2008).
These financial statements have been prepared on the assumption that the company will continue in operational existence for the foreseeable future.
The validity of this assumption depends on the continuing support of the director and creditors.
If the company were unable to continue in existence for the foreseeable future, adjustments would be necessary to reduce the balance sheet values of assets to their recoverable amounts, to reclassify fixed assets as current assets and to provide for further liabilities which might arise
.
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
.
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT .
.
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:
Plant and machinery
20% reducing balance
Fixtures, fittings and equipment
20% reducing balance
Motor vehicles
20% reducing balance
1.5
Stock
Stock is valued at the lower of cost and net realisable value.
1.6
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
A. J. BESPOKE FURNITURE & JOINERY LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2015
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2014 & at 31 March 2015
18,764
Depreciation
At 1 April 2014
11,078
Charge for the year
1,537
At 31 March 2015
12,615
Net book value
At 31 March 2015
6,149
At 31 March 2014
7,686
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £0 (2014 - £18,403).
4
Share capital
2015
2014
£
£
Allotted, called up and fully paid
2 Ordinary shares of £1 each
2
2