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Registration number: 05588288

Simply Carpets of Keynsham Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

AIMS Accountants for Business
Beaufort House
113 Parson St
Bristol
BS3 5QH

 

Simply Carpets of Keynsham Ltd
Contents

Accountants' Report

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3 to 4

 

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4 ) have been prepared.

Chartered Management Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Simply Carpets of Keynsham Ltd
for the Year Ended 31 March 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Simply Carpets of Keynsham Ltd for the year ended 31 March 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Simply Carpets of Keynsham Ltd, as a body, in accordance with the terms of our engagement letter dated 22 June 2012. Our work has been undertaken solely to prepare for your approval the accounts of Simply Carpets of Keynsham Ltd and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Simply Carpets of Keynsham Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Simply Carpets of Keynsham Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Simply Carpets of Keynsham Ltd. You consider that Simply Carpets of Keynsham Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Simply Carpets of Keynsham 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 accounts.

......................................

AIMS Accountants for Business
Beaufort House
113 Parson St
Bristol
BS3 5QH

27 June 2016

 

Simply Carpets of Keynsham Ltd
(Registration number: 05588288)
Abbreviated Balance Sheet at 31 March 2016

   

Note

   

2016
£

   

2015
£

 

Fixed assets

 

             

Tangible fixed assets

 

   

4,878

   

3,935

 

Current assets

 

             

Stocks

 

   

4,175

   

4,175

 

Debtors

 

   

29,403

   

69,048

 

Cash at bank and in hand

 

   

38,738

   

46,447

 
   

   

72,316

   

119,670

 

Creditors: Amounts falling due within one year

 

   

(57,989)

   

(99,645)

 

Net current assets

 

   

14,327

   

20,025

 

Net assets

 

   

19,205

   

23,960

 

Capital and reserves

 

             

Called up share capital

 

3

   

1

   

1

 

Profit and loss account

 

   

19,204

   

23,959

 

Shareholders' funds

 

   

19,205

   

23,960

 

For the year ending 31 March 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 27 June 2016 and signed on its behalf by:

.........................................
Mr Chris Bollom
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

 

Simply Carpets of Keynsham Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

1

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 and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

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

Plant and machinery

25% reducing balance

Fixtures and fittings

25% reducing balance

Motor vehicles

25% 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.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

 

Simply Carpets of Keynsham Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

2

Fixed assets

   

Tangible assets
£

   

Total
£

 

Cost

           

At 1 April 2015

 

14,710

   

14,710

 

Additions

 

2,336

   

2,336

 

At 31 March 2016

 

17,046

   

17,046

 

Depreciation

           

At 1 April 2015

 

10,775

   

10,775

 

Charge for the year

 

1,393

   

1,393

 

At 31 March 2016

 

12,168

   

12,168

 

Net book value

           

At 31 March 2016

 

4,878

   

4,878

 

At 31 March 2015

 

3,935

   

3,935

 

3

Share capital

Allotted, called up and fully paid shares

 

2016

2015

   

No.

   

£

   

No.

   

£

 

Ordinary shares of £1 each

 

1

   

1

   

1

   

1

 
                         

4

Related party transactions

Directors' advances and credits

 

2016
Advance/ Credit
£

2016
Repaid
£

2015
Advance/ Credit
£

2015
Repaid
£

Mr Chris Bollom

Loan from director

-

-

-

-