Company Registration No. 09565696 (England and Wales)
STAGGERINGLY GOOD LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2016
STAGGERINGLY GOOD LTD
CONTENTS
Page
Accountants' report
1
Abbreviated balance sheet
2
Notes to the abbreviated accounts
3 - 4
STAGGERINGLY GOOD LTD
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF STAGGERINGLY GOOD LTD FOR THE PERIOD ENDED 30 APRIL 2016
- 1 -
The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 4 have been prepared.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Staggeringly Good Ltd for the period ended 30 April 2016 set out on pages 3 to 8 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 http://www.icaew.com/en/members/regulations-standards-and-guidance/.
This report is made solely to the Board of Directors of Staggeringly Good Ltd, as a body, in accordance with the terms of our engagement letter
.
Our work has been undertaken solely to prepare for your approval the financial statements of Staggeringly Good Ltd and state those matters that we have agreed to state to the Board of Directors of Staggeringly Good Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Staggeringly Good Ltd and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Staggeringly Good Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Staggeringly Good Ltd. You consider that Staggeringly Good Ltd is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the financial statements of Staggeringly Good 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 statutory financial statements.
Carpenter Box
27 January 2017
Chartered Accountants
Amelia House
Crescent Road
Worthing
West Sussex
BN11 1QR
STAGGERINGLY GOOD LTD
ABBREVIATED BALANCE SHEET
AS AT
30 APRIL 2016
30 April 2016
- 2 -
2016
Notes
£
£
Fixed assets
Tangible assets
2
35,471
Current assets
Debtors
18,214
Cash at bank and in hand
3,358
21,572
Creditors: amounts falling due within one year
(96,457)
Net current liabilities
(74,885)
Total assets less current liabilities
(39,414)
Provisions for liabilities
(7,094)
(46,508)
Capital and reserves
Called up share capital
3
3
Profit and loss account
(46,511)
Shareholders' funds
(46,508)
For the financial period ended 30 April 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 period 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 27 January 2017
Mr R Cox
Mr J Ross
Director
Director
Company Registration No. 09565696
STAGGERINGLY GOOD LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 30 APRIL 2016
- 3 -
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).
The accounts have been prepared on a going concern basis, which assumes that the company will continue trading for the foreseeable future. The directors and other creditors are willing to provide their continued support in meeting the company's liabilities as needed. The financial statements do not include any adjustment that would result from a withdrawal of their support.
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
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:
Plant and machinery
25% per annum reducing balance
Fixtures, fittings & equipment
25% per annum reducing balance
Motor vehicles
1.4
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.5
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
STAGGERINGLY GOOD LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2016
- 4 -
2
Fixed assets
Tangible assets
£
Cost
At 28 April 2015
-
Additions
41,580
At 30 April 2016
41,580
Depreciation
At 28 April 2015
-
Charge for the period
6,109
At 30 April 2016
6,109
Net book value
At 30 April 2016
35,471
3
Share capital
2016
£
Allotted, called up and fully paid
3 Ordinary shares of £1 each
3
During the period 3 ordinary shares of £1 were issued on incorporation at par.