Company Registration No. 07838624 (England and Wales)
LONDON SAK LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2016
LONDON SAK LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
LONDON SAK LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 JUNE 2016
30 June 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
93,898
112,868
Current assets
Stocks
40,496
55,775
Debtors
147,344
164,978
Cash at bank and in hand
67,215
37,439
255,055
258,192
Creditors: amounts falling due within one year
(177,936)
(205,978)
Net current assets
77,119
52,214
Total assets less current liabilities
171,017
165,082
Creditors: amounts falling due after more than one year
(111,380)
(111,380)
59,637
53,702
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
59,537
53,602
Shareholders' funds
59,637
53,702
For the financial year ended 30 June 2016 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 for issue on 18 March 2017
Mr R Hage
Director
Company Registration No. 07838624
LONDON SAK LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2016
- 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 .
.
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:
Land and buildings Leasehold
over the term of the lease
Plant and machinery
25% on reducing balance basis
Computer equipment
over 3 years
Other assets
over 5 years
1.4
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
2
Fixed assets
Tangible assets
£
Cost
At 1 July 2015 & at 30 June 2016
182,033
Depreciation
At 1 July 2015
69,165
Charge for the year
18,970
At 30 June 2016
88,135
Net book value
At 30 June 2016
93,898
At 30 June 2015
112,868
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary of £1 each
100
100