Registered Number 04702200
LACK OF STYLE LIMITED
Abbreviated Accounts
31 March 2016
Notes | 2016 | 2015 | |
---|---|---|---|
£ | £ | ||
Current assets | |||
Stocks |
|
|
|
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: amounts falling due within one year |
( |
( |
|
Net current assets (liabilities) |
|
|
|
Total assets less current liabilities |
|
|
|
Creditors: amounts falling due after more than one year |
( |
( |
|
Total net assets (liabilities) |
( |
( |
|
Capital and reserves | |||
Called up share capital | 2 |
|
|
Profit and loss account |
( |
( |
|
Shareholders' funds |
( |
( |
Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
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.
Going concern
At the balance sheet date the company’s liabilities exceeded its assets by £125,533. The company’s director has significant loans outstanding to him which he has agreed not to withdraw for at least twelve months from the date of approval of these financial statements. The financial statements have therefore been prepared on a going concern basis.