Registered number
Abbreviated Accounts
31 May 2016
Registered number: 06923504
Abbreviated Balance Sheet
as at 31 May 2016
Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 388 518
Current assets
Stocks 33,121 35,717
Cash at bank and in hand 160 323
33,281 36,040
Creditors: amounts falling due within one year (145,265) (141,686)
Net current liabilities (111,984) (105,646)
Net liabilities (111,596) (105,128)
Capital and reserves
Called up share capital 3 2 2
Profit and loss account (111,598) (105,130)
Shareholders' funds (111,596) (105,128)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
Approved by the board on 30 May 2017
Notes to the Abbreviated Accounts
for the year ended 31 May 2016
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Fixtures and fittings 25% reducing balance
Office equipment 25% reducing balance
Stock is valued at the lower of cost and net realisable value.
Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.
Foreign currencies
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.
Going concern
The company has a deficit on the balance sheet and made a loss this year. However, the long term funding for the company is by way of a directors' loan account. The directors have made a commitment not to seek repayment of the loan within the foreseeable future. The directors are confident that the company will trade out of its current difficulties.
2 Tangible fixed assets £
At 1 June 2015 2,243
At 31 May 2016 2,243
At 1 June 2015 1,725
Charge for the year 130
At 31 May 2016 1,855
Net book value
At 31 May 2016 388
At 31 May 2015 518
3 Share capital Nominal 2016 2016 2015
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 2 2 2
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