Registered Number 02730835
NAIN CARPET LIMITED
Micro-entity Accounts
31 July 2016
Notes | 2016 | 2015 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 1 |
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Investments |
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Current assets | |||
Stocks |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
( |
( |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
( |
( |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 2 |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
And signed on their behalf by:
£ | |
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Cost | |
At 1 August 2015 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 July 2016 |
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Depreciation | |
At 1 August 2015 |
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Charge for the year |
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On disposals |
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At 31 July 2016 |
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Net book values | |
At 31 July 2016 | 963,732 |
At 31 July 2015 | 966,895 |
3 Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
net of Value Added Tax and trade discounts
Tangible assets depreciation policy
and any provision for impairment. Depreciation is provided at rates calculated to write off
the cost or valuation of fixedassets, less their estimated residual value, over their
expected useful lives
Valuation information and policy
Although this accounting policy is in accordance with the Financial Reporting Standard for
Smaller Entities (effective January 2015), it is a departure from the general requirement of
the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the
directors compliance with the standard is necessary for the financial statements to give a
true and fair view. Depreciation or amortisation is only one of many factors reflected in the
annual valuation and the amount of this which might otherwise have been charged cannot
be separately identified or quantified
Other accounting policies
Stocks are valued at the lower of cost and net realisable value after making due allowance
for obsolete and slow moving items.