Company Registration No. 06926128 (England and Wales)
Firth and Co Wine Merchants Limited
Abbreviated Accounts
For The Year Ended 31 December 2015
FIRTH AND CO WINE MERCHANTS LIMITED
Firth and Co Wine Merchants Limited
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
FIRTH AND CO WINE MERCHANTS LIMITED
Firth and Co Wine Merchants Limited
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2015
31 December 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
1,202
1,042
Current assets
Stocks
38,636
32,894
Debtors
117,715
120,973
Cash at bank and in hand
946
1,385
157,297
155,252
Creditors: amounts falling due within one year
3
(157,044)
(154,820)
Net current assets
253
432
Total assets less current liabilities
1,455
1,474
Capital and reserves
Called up share capital
4
100
100
Profit and loss account
1,355
1,374
Shareholders' funds
1,455
1,474
For the financial year ended 31 December 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 21 September 2016
Mr A J Firth
Director
Company Registration No. 06926128
FIRTH AND CO WINE MERCHANTS LIMITED
Firth and Co Wine Merchants Limited
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 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 January 2015).
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.3
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 and equipment
25% straight line
1.4
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.5
Stock
Stock is valued at the lower of cost and net realisable value.
1.6
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
2
Fixed assets
Tangible assets
£
Cost
At 1 January 2015
4,900
Additions
698
At 31 December 2015
5,598
Depreciation
At 1 January 2015
3,858
Charge for the period
538
At 31 December 2015
4,396
Net book value
At 31 December 2015
1,202
At 31 December 2014
1,042
FIRTH AND CO WINE MERCHANTS LIMITED
Firth and Co Wine Merchants Limited
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2015
- 3 -
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £15,517 (2014 - £0).
4
Share capital
2015
2014
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100