Company Registration No. 05500324 (England and Wales)
RICHFIELDS INTERIORS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2015
RICHFIELDS INTERIORS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
RICHFIELDS INTERIORS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2015
31 March 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Intangible assets
2
15,600
20,800
Tangible assets
2
34,811
37,799
50,411
58,599
Current assets
Stocks
2,050
2,050
Debtors
9,211
9,005
Cash at bank and in hand
24,525
2,740
35,786
13,795
Creditors: amounts falling due within one year
(212,709)
(203,507)
Net current liabilities
(176,923)
(189,712)
Total assets less current liabilities
(126,512)
(131,113)
Creditors: amounts falling due after more than one year
(10,417)
(15,440)
(136,929)
(146,553)
Capital and reserves
Called up share capital
3
2
2
Profit and loss account
(136,931)
(146,555)
Shareholders' funds
(136,929)
(146,553)
RICHFIELDS INTERIORS LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2015
31 March 2015
- 2 -
For the financial year ended 31 March 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 and authorised for issue on 23 December 2015
Robert Richfield
David Morson
Director
Director
Company Registration No. 05500324
RICHFIELDS INTERIORS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 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 April 2008).
The business is able to continue as a going concern through the continued support of its directors.
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
15% reducing balance
Fixtures, fittings & equipment
10% reducing balance
Motor vehicles
25% reducing balance
1.6
Stock
Stock is valued at the lower of cost and net realisable value.
1.7
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.
RICHFIELDS INTERIORS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2015
- 4 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 April 2014
52,000
73,845
125,845
Additions
-
1,872
1,872
At 31 March 2015
52,000
75,717
127,717
Depreciation
At 1 April 2014
31,200
36,047
67,247
Charge for the year
5,200
4,859
10,059
At 31 March 2015
36,400
40,906
77,306
Net book value
At 31 March 2015
15,600
34,811
50,411
At 31 March 2014
20,800
37,799
58,599
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
2 Ordinary Shares of £1 each
2
2