REGISTERED NUMBER:
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ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 NOVEMBER 2016 |
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STUFF 'N STUFF LIMITED |
REGISTERED NUMBER:
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ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 NOVEMBER 2016 |
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FOR |
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STUFF 'N STUFF LIMITED |
STUFF 'N STUFF LIMITED (REGISTERED NUMBER: SC334213) |
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CONTENTS OF THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 30 NOVEMBER 2016 |
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Page |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 4 |
STUFF 'N STUFF LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 NOVEMBER 2016 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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STUFF 'N STUFF LIMITED (REGISTERED NUMBER: SC334213) |
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ABBREVIATED BALANCE SHEET |
30 NOVEMBER 2016 |
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2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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Investments | 3 |
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Investment property | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 5 |
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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 | 5 |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital | 6 |
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Revaluation reserve | ( |
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Profit and loss account | ( |
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SHAREHOLDERS' FUNDS | ( |
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The directors acknowledge their responsibilities for: |
(a) |
ensuring that the Company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006
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(b) |
preparing financial statements which give a true and fair view of the state of affairs of the Company as at the end of each
financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the Company. |
STUFF 'N STUFF LIMITED (REGISTERED NUMBER: SC334213) |
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ABBREVIATED BALANCE SHEET - continued |
30 NOVEMBER 2016 |
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The financial statements were approved by the Board of Directors on
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STUFF 'N STUFF LIMITED (REGISTERED NUMBER: SC334213) |
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NOTES TO THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 30 NOVEMBER 2016 |
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1. | ACCOUNTING POLICIES |
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Accounting convention |
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain |
assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). |
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Going concern |
The financial statements have been prepared on a going concern basis, the validity of which depends on the continuing |
support of the Company's directors. At the balance sheet date the Company's liabilities exceeded its assets by £352,870. |
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The Company meets its day to day working capital requirements with the support of its directors and shareholders, who |
have agreed not to seek repayment of the amounts owed to them in advance of other creditors. |
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For the reason above the directors consider it appropriate to prepare the financial statements on a going concern basis. |
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Exemption from preparing a cash flow statement |
The Company has adopted the Financial Reporting Standard for Smaller Entities (effective January 2015) and is |
consequently exempt from the requirement to include a cash flow statement in the financial statements. |
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Turnover |
The turnover shown in the profit and loss account represents the value of all services delivered during the year, at a selling |
price exclusive of Value Added Tax. Sales are recognised at the point at which the Company has fulfilled its contractual |
obligations to the customer. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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Tangible fixed assets are stated at cost less depreciation. Cost represents purchase price together with any incidental costs |
of acquisition. |
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Investment property |
In accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), depreciation is not |
provided on the investment property. The property is revalued annually and revaluation surpluses are taken to the |
revaluation reserve. Deficits on revaluation which are considered to be permanent are charged to the profit and loss |
account and subsequent reversals are credited. |
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Work in progress |
Work in progress is valued on the basis of direct material and labour costs plus attributable overheads based on a normal |
level of activity. |
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For long term contracts, profit is recognised by reference to the stage of completion of each contract where there is |
reasonable certainty that the contract will be profitable. Where the outcome of the contract cannot be established with |
reasonable certainty, no profit is recognised. Foreseeable losses are provided for in full at the point at which the loss is |
anticipated. |
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Where amounts invoiced exceed the value of work done, the excess is accounted for as payments received on account and |
is included within creditors. Where the value of work done exceeds the amounts invoiced, the excess is accounted for as |
amounts recoverable on contracts and is included within debtors. |
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STUFF 'N STUFF LIMITED (REGISTERED NUMBER: SC334213) |
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NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2016 |
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1. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet |
date where transactions or events have occurred at that date that will result in an obligation to pay more tax, or a right to |
pay less tax, or a right to receive repayments of tax. |
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Deferred tax assets are recognised only to the extent that the directors consider it more likely than not that there will be |
suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax |
assets and liabilities recognised have not been discounted. |
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Deferred tax is measured on a non-discounted basis at the average tax rates that are expected to apply in the periods in |
which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date. |
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Financial instruments |
Financial instruments are classified and accounted for as financial assets, financial liabilities or equity instruments, |
according to the substance of the contractual arrangement. |
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Financial instruments which are assets are stated at cost less any provision for impairment. Financial liabilities are stated at |
principal capital amounts outstanding at the year end. Issue costs relating to financial liabilities are deducted from the |
outstanding balance and are amortised over the period to the due date for repayment of the financial liability. |
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An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of |
its liabilities. A financial liability is any contractual arrangement for an entity to deliver cash to the holder of the associated |
financial instrument. |
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2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 December 2015 |
and 30 November 2016 |
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DEPRECIATION |
At 1 December 2015 |
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Charge for year |
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At 30 November 2016 |
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NET BOOK VALUE |
At 30 November 2016 |
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At 30 November 2015 |
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3. | FIXED ASSET INVESTMENTS |
Investments |
other |
than |
loans |
£ |
COST |
Additions | 1 |
At 30 November 2016 | 1 |
NET BOOK VALUE |
At 30 November 2016 |
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STUFF 'N STUFF LIMITED (REGISTERED NUMBER: SC334213) |
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NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2016 |
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3. | FIXED ASSET INVESTMENTS - continued |
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The Company's investments at the Balance Sheet date in the share capital of companies include the following: |
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Nature of business:
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Class of shares: | holding |
Ordinary C | 100.00 |
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The Company acquired 1 Ordinary C share of £1 in Bankell Developments Limited at par on 1 August 2016. As Bankell |
Developments Limited has an accounting reference date of 30 April, no financial statements have been prepared since the |
1 Ordinary C share was acquired. |
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4. | INVESTMENT PROPERTY |
Total |
£ |
COST OR VALUATION |
At 1 December 2015 |
and 30 November 2016 |
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NET BOOK VALUE |
At 30 November 2016 |
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At 30 November 2015 |
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5. | CREDITORS |
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Creditors include an amount of £
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6. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | £ | £ |
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Ordinary | 1 |
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