Registration number:
Unaudited Abbreviated Accounts
for the Year Ended
Goring Road Carpet Centre Limited
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The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5 ) have been prepared.
Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Goring Road Carpet Centre Limited
for the Year Ended 31 May 2016
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Goring Road Carpet Centre Limited for the year ended 31 May 2016 set out on pages from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW) , we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook .
This report is made solely to the Board of Directors of Goring Road Carpet Centre Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Goring Road Carpet Centre Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Goring Road Carpet Centre Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Goring Road Carpet Centre Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Goring Road Carpet Centre Limited. You consider that Goring Road Carpet Centre Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Goring Road Carpet Centre Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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Bolden & Long Chartered Accountants
36a Goring Road
Goring-by-Sea
Worthing
West Sussex
BN12 4AD
22 February 2017
Goring Road Carpet Centre Limited
(Registration number: 05991209)
Abbreviated Balance Sheet at 31 May 2016
Note |
2016
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2015
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Fixed assets |
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Tangible fixed assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
- |
( |
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Provisions for liabilities |
( |
( |
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Net assets/(liabilities) |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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( |
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Shareholders' funds/(deficit) |
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( |
Approved by the director on
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Mr P Yates
Director
2
Goring Road Carpet Centre Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016
......... continued
Accounting policies |
Basis of preparation
Turnover
Government grants
Goodwill
Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.
Amortisation
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the identifiable assets and liabilities. It is amortised to the profit and loss account over its estimated economic life.
Asset class |
Amortisation method and rate |
Goodwill |
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Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class |
Depreciation method and rate |
Office equipment, fixtures & fittings |
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Motor vehicles |
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Tools and equipment |
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Stock
Goring Road Carpet Centre Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016
......... continued
Deferred tax
Hire purchase and leasing
Financial instruments
Goring Road Carpet Centre Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016
......... continued
Fixed assets |
Intangible assets
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Tangible assets
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Total
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Cost |
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At 1 June 2015 |
15,000 |
69,086 |
84,086 |
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Additions |
- |
7,363 |
7,363 |
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Disposals |
- |
(5,582) |
(5,582) |
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At 31 May 2016 |
15,000 |
70,867 |
85,867 |
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Depreciation |
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At 1 June 2015 |
15,000 |
36,874 |
51,874 |
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Charge for the year |
- |
8,937 |
8,937 |
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Eliminated on disposals |
- |
(4,500) |
(4,500) |
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At 31 May 2016 |
15,000 |
41,311 |
56,311 |
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Net book value |
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At 31 May 2016 |
- |
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At 31 May 2015 |
- |
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Share capital |
Allotted, called up and fully paid shares
2016 |
2015 |
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No. |
£ |
No. |
£ |
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