NEW HOMES SOLUTIONS LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
28 FEBRUARY 2016
COMPANY REGISTRATION NO. 07970313 (England and Wales)
NEW HOMES SOLUTIONS LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
NEW HOMES SOLUTIONS LTD
ABBREVIATED BALANCE SHEET
AS AT
28 FEBRUARY 2016
28 February 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
14,506
10,984
Current assets
Debtors
97,768
45,925
Cash at bank and in hand
81,333
22,227
179,101
68,152
Creditors: amounts falling due within one year
(153,335)
(76,195)
Net current assets/(liabilities)
25,766
(8,043)
Total assets less current liabilities
40,272
2,941
Provisions for liabilities
(2,466)
-
37,806
2,941
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
37,706
2,841
Shareholders' funds
37,806
2,941
For the financial year ended 28 February 2016 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 28 February 2017
Mr William Smith
Director
Company Registration No. 07970313
NEW HOMES SOLUTIONS LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 28 FEBRUARY 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
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
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 & equipment
15% reducing balance
Motor vehicles
25% reducing balance
2
Fixed assets
Tangible assets
£
Cost
At 1 March 2015
15,300
Additions
7,880
At 28 February 2016
23,180
Depreciation
At 1 March 2015
4,316
Charge for the year
4,358
At 28 February 2016
8,674
Net book value
At 28 February 2016
14,506
At 28 February 2015
10,984
NEW HOMES SOLUTIONS LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2016
- 3 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
50 Ordinary A of £1 each
50
50
50 Ordinary B of £1 each
50
50
100
100