Isobel Pink Ltd. |
|
Chartered Accountants' report to the board of directors on the preparation of the unaudited abbreviated accounts of Isobel Pink Ltd. for the year ended 31 March 2016 |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of Isobel Pink Ltd. for the year ended 31 March 2016 which comprise of the balance sheet and the related notes 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, 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 Isobel Pink Ltd., as a body, in accordance with the terms of our engagement letter dated 19 October 2016. Our work has been undertaken solely to prepare for your approval the accounts of Isobel Pink Ltd. and state those matters that we have agreed to state to the Board of Directors of Isobel Pink Ltd., 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 Isobel Pink Ltd. and its Board of Directors as a body for our work or for this report. |
It is your duty to ensure that Isobel Pink Ltd. has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Isobel Pink Ltd.. You consider that Isobel Pink Ltd. 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 Isobel Pink Ltd.. 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 abbreviated accounts. |
|
Jon Essam & Co Ltd |
Chartered Accountants |
23 Cottingham Way |
Thrapston |
Kettering |
Northants |
NN14 4PL |
|
29 November 2016 |
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Isobel Pink Ltd.
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Registered number: |
07575381
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Abbreviated Balance Sheet |
as at 31 March 2016
|
|
Notes |
|
|
2016 |
|
|
2015 |
£ |
£ |
Fixed assets |
Tangible assets |
2 |
|
|
378,841 |
|
|
364,279 |
|
Current assets |
Debtors |
|
|
1,230 |
|
|
1,327 |
Cash at bank and in hand |
|
|
15,973 |
|
|
23,117 |
|
|
|
17,203 |
|
|
24,444 |
|
Creditors: amounts falling due within one year |
|
|
(3,709) |
|
|
(4,727) |
|
Net current assets |
|
|
|
13,494 |
|
|
19,717 |
|
Total assets less current liabilities |
|
|
|
392,335 |
|
|
383,996 |
|
Creditors: amounts falling due after more than one year |
|
|
|
(405,454) |
|
|
(406,170) |
|
|
|
Net liabilities |
|
|
|
(13,119) |
|
|
(22,174) |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
3 |
|
|
100 |
|
|
100 |
Revaluation reserve |
|
|
|
13,572 |
|
|
- |
Profit and loss account |
|
|
|
(26,791) |
|
|
(22,274) |
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Shareholder's funds |
|
|
|
(13,119) |
|
|
(22,174) |
|
|
|
|
|
|
|
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The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
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The member has not required the company to obtain an audit in accordance with section 476 of the Act.
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The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
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|
W J Herdman |
Director |
Approved by the board on 29 November 2016
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Isobel Pink Ltd.
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Notes to the Abbreviated Accounts |
for the year ended 31 March 2016
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|
1 |
Accounting policies |
|
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
|
|
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Turnover |
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Turnover represents the value of sales, net of discounts, of holiday's provided to customers
|
|
|
Depreciation |
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Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Furniture, fixtures & fittings |
20% reducing balance
|
|
|
Going concern |
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The company currently meets its daily working capital requirement through operating revenues and financial support from the directors and creditors. On this basis the directors considers it appropriate to prepare the accounts on the going concern basis. The accounts do not include any adjustments that would result from the failure to raise any additonal finance that may prove necessary. |
|
|
Investment properties |
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Investment properties are revalued annually at their open market value in accordance with the FRSSE (effective January 2015). The surplus or deficit on revaluation is transferred to a revaluation reserve except where the deficit reduces the property below its historical cost, in which case it is taken to the profit and loss account. No depreciation is provided on investment properties which is a departure from the requirements of the Companies Act 2006. In the opinion of the directors these properties are held primarily for their investment potential and so their current value is of more significance than any measure of consumption and to depreciate them would not give a true and fair view. The provision of the FRSSE (effective January 2015) in respect of investment properties have therefore been adopted in order to give a true and fair view. If the departure from the Act had not been made, the (profit/loss) for the year would have been reduced by depreciation. However, the amount of depreciation cannot reasonably be quantified and the amount which might otherwise have been shown cannot be separately identified or quantified. |
|
|
2 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 April 2015 |
366,693 |
|
Additions |
1,417 |
|
Surplus on revaluation |
13,572 |
|
Disposals |
(513) |
|
At 31 March 2016 |
381,169 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2015 |
2,414 |
|
Charge for the year |
427 |
|
On disposals |
(513) |
|
At 31 March 2016 |
2,328 |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2016 |
378,841 |
|
At 31 March 2015 |
364,279 |
|
|
|
|
|
|
|
|
3 |
Share capital |
Nominal |
|
2016 |
|
2016 |
|
2015 |
value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares
|
£1 each |
|
100 |
|
100 |
|
100 |
|
|
|
|
|
|
|
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