Company Registration No. 06111041 (England and Wales)
S P CONNOR QUALITY DECORATING LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2015
S P CONNOR QUALITY DECORATING LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
S P CONNOR QUALITY DECORATING LTD
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2015
31 March 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Intangible assets
2
28,000
31,500
Tangible assets
2
16,593
238
44,593
31,738
Current assets
Debtors
241
1,929
Cash at bank and in hand
11,986
14,377
12,227
16,306
Creditors: amounts falling due within one year
(45,139)
(46,770)
Net current liabilities
(32,912)
(30,464)
Total assets less current liabilities
11,681
1,274
Creditors: amounts falling due after more than one year
(8,416)
-
3,265
1,274
Capital and reserves
Called up share capital
3
2
2
Profit and loss account
3,263
1,272
Shareholders' funds
3,265
1,274
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.
Director's 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 director acknowledges his 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 22 July 2015
S Connor
Director
Company Registration No. 06111041
S P CONNOR QUALITY DECORATING LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
- 2 -
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).
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
25% Straight Line
Fixtures, fittings & equipment
25% Straight Line
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 April 2014
35,000
14,800
49,800
Additions
-
16,539
16,539
Disposals
-
(806)
(806)
At 31 March 2015
35,000
30,533
65,533
Depreciation
At 1 April 2014
3,500
14,562
18,062
On disposals
-
(700)
(700)
Charge for the year
3,500
78
3,578
At 31 March 2015
7,000
13,940
20,940
Net book value
At 31 March 2015
28,000
16,593
44,593
At 31 March 2014
31,500
238
31,738
S P CONNOR QUALITY DECORATING LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2015
- 3 -
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
2 Ordinary Shares of £1 each
2
2