Golden Arts Limited
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Notes to the Accounts |
for the year ended 31 March 2015
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
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Turnover |
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Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
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Depreciation |
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Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
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Plant and machinery |
20% straight line
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Motor vehicles |
25% straight line
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2 |
Operating profit |
2015 |
|
2014 |
£ |
£ |
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This is stated after charging: |
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Depreciation of owned fixed assets |
149 |
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148 |
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3 |
Taxation |
2015 |
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2014 |
£ |
£ |
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UK corporation tax |
(6,800) |
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13,536 |
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4 |
Tangible fixed assets |
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Plant and machinery etc |
£ |
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Cost |
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At 1 April 2014 |
4,735 |
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At 31 March 2015 |
4,735 |
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Depreciation |
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At 1 April 2014 |
4,586 |
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Charge for the year |
149 |
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At 31 March 2015 |
4,735 |
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Net book value |
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At 31 March 2015 |
- |
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At 31 March 2014 |
149 |
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5 |
Debtors |
2015 |
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2014 |
£ |
£ |
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Other debtors |
7,206 |
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224 |
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6 |
Creditors: amounts falling due within one year |
2015 |
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2014 |
£ |
£ |
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Corporation tax |
- |
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13,536 |
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Other taxes and social security costs |
667 |
|
509 |
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Other creditors |
22,662 |
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25,054 |
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23,329 |
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39,099 |
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7 |
Share capital |
Nominal |
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2015 |
|
2015 |
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2014 |
value |
Number |
£ |
£ |
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Allotted, called up and fully paid: |
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Ordinary shares
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£1 each |
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- |
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4 |
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4 |
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8 |
Profit and loss account |
2015 |
£ |
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At 1 April 2014 |
444,926 |
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Loss for the year |
(27,188) |
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At 31 March 2015 |
417,738 |
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