SIGNS OF THE TIMES LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2015
Company Registration No. 04201596 (England and Wales)
SIGNS OF THE TIMES LTD
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
SIGNS OF THE TIMES LTD
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2015
31 December 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Intangible assets
2
30,552
36,024
Tangible assets
2
3,290
4,658
33,842
40,682
Current assets
Stocks
15,216
14,064
Debtors
85,562
85,283
Cash at bank and in hand
19,162
28,047
119,940
127,394
Creditors: amounts falling due within one year
(61,840)
(48,912)
Net current assets
58,100
78,482
Total assets less current liabilities
91,942
119,164
Provisions for liabilities
(281)
(473)
91,661
118,691
Capital and reserves
Called up share capital
3
117,647
117,647
Profit and loss account
(25,986)
1,044
Shareholders' funds
91,661
118,691
SIGNS OF THE TIMES LTD
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2015
31 December 2015
- 2 -
For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their 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 19 May 2016
P Lothain
Director
Company Registration No. 04201596
SIGNS OF THE TIMES LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
- 3 -
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).
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
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
1.5
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% on cost
Fixtures, fittings & equipment
20% on cost
1.6
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.7
Stock
Stock is valued at the lower of cost and net realisable value.
1.8
Revenue recognition
Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of work performed. Revenue not billed to clients is included in debtors and payments on account in excess of the relevant amount of revenue are included in creditors.
Fee income that is contingent on events outside the control of the firm is recognised when the contingent event occurs.
1.9
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.
SIGNS OF THE TIMES LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2015
- 4 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 January 2015
109,440
41,986
151,426
Additions
-
1,770
1,770
At 31 December 2015
109,440
43,756
153,196
Depreciation
At 1 January 2015
73,416
37,328
110,744
Charge for the year
5,472
3,138
8,610
At 31 December 2015
78,888
40,466
119,354
Net book value
At 31 December 2015
30,552
3,290
33,842
At 31 December 2014
36,024
4,658
40,682
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
117,647 Ordinary of £1 each
117,647
117,647