Company Registration No. 05133588 (England and Wales)
SECURE SOUNDS AND VISION LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2016
SECURE SOUNDS AND VISION LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
SECURE SOUNDS AND VISION LIMITED
ABBREVIATED BALANCE SHEET
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
3,373
5,342
Current assets
Stocks
954
881
Debtors
8,897
2,367
Cash at bank and in hand
28,714
37,914
38,565
41,162
Creditors: amounts falling due within one year
(40,377)
(8,031)
Net current liabilities/(assets)
(1,812)
33,131
Total assets less current liabilities
1,561
38,473
Provisions for liabilities
(675)
(1,068)
886
37,405
Capital and reserves
Called up share capital
3
2
2
Profit and loss account
884
37,403
Shareholders' funds
886
37,405
SECURE SOUNDS AND VISION LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
- 2 -
For the financial year ended 31 May 2016 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 6 October 2016
Mr P Betts
Director
Company Registration No. 05133588
The notes on pages 3 - 4 form part of these financial statements.
SECURE SOUNDS AND VISION LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2016
- 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
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:
Fixtures, fittings & equipment
20% on cost
Motor vehicles
25% on cost
1.5
Stock
Stock is valued at the lower of cost and net realisable value.
1.6
Deferred taxation
Deferred tax is provided in respect of the tax effect of all timing differences that have originated but not reversed at the balance sheet date.
A deferred tax asset is regarded as recoverable and therefore recognised only when, on the basis of all available evidence, it can be regarded as more likely then not that there will be suitable taxable profits from which the future reversal of the underlying timing difference can be deducted.
Deferred tax is measured on a nondiscounted basis, at the average tax rates that are expected to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantially enacted by the balance sheet date.
SECURE SOUNDS AND VISION LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2016
- 4 -
2
Fixed assets
Tangible assets
£
Cost
At 1 June 2015
13,271
Additions
807
At 31 May 2016
14,078
Depreciation
At 1 June 2015
7,929
Charge for the year
2,776
At 31 May 2016
10,705
Net book value
At 31 May 2016
3,373
At 31 May 2015
5,342
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
2 Ordinary shares of £1 each
2
2