Registration number:
for the period from
The Village Store Medway Ltd
Contents
Abbreviated Balance Sheet |
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Notes to the Abbreviated Accounts |
The Village Store Medway Ltd
(Registration number: 09747306)
Abbreviated Balance Sheet as at 31 August 2016
Note |
31 August 2016 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders funds |
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For the period ending 31 August 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the Board on
.........................................
Barry Hill
Director
The Village Store Medway Ltd
Notes to the Abbreviated Accounts
Accounting policies |
Basis of preparation
The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention.
Turnover
Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.
Revenue recognition
Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.
Government grants
Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by equal annual instalments. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.
Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class |
Depreciation method and rate |
Fixtures And Fittings |
15% Reducing Balance |
Motor Vehicles |
25% Reducing Balance |
Computer Equipment (Office Equipment) |
33.3% Reducing Balance |
Plant and Machinery |
20% Reducing Balance |
Stock
Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.
The Village Store Medway Ltd
Notes to the Abbreviated Accounts
Fixed assets |
Tangible assets |
Total |
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Cost |
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Additions |
189,242 |
189,242 |
At 31 August 2016 |
189,242 |
189,242 |
Depreciation |
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Charge for the year |
9,850 |
9,850 |
At 31 August 2016 |
9,850 |
9,850 |
Net book value |
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At 31 August 2016 |
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Share capital |
Allotted, called up and fully paid shares
31 August 2016 |
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No. |
£ |
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100 |