Ravens Of Southend Limited - Period Ending 2014-01-31

Registration number: 00507728

Ravens Of Southend Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 January 2014
 

Ravens Of Southend Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

Ravens Of Southend Limited
(Registration number: 00507728)
Abbreviated Balance Sheet at 31 January 2014

		Note			2014 £						2013 £
Fixed assets
Tangible fixed assets		2						33,637						53,870
Current assets
Stocks					66,907						66,173
Debtors					19,431						12,810
Cash at bank and in hand					345,150						383,550
					431,488						462,533
Creditors: Amounts falling due within one year					(128,268)						(157,844)
Net current assets								303,220						304,689
Total assets less current liabilities								336,857						358,559
Provisions for liabilities								(3,754)						(4,987)
Net assets								333,103						353,572
Capital and reserves
Called up share capital		3			10,000						10,000
Profit and loss account					323,103						343,572
Shareholders' funds								333,103						353,572

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 1

Ravens Of Southend Limited
(Registration number: 00507728)
Abbreviated Balance Sheet at 31 January 2014
......... continued

For the year ending 31 January 2014 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

Approved by the Board on 28 July 2014 and signed on its behalf by:

.........................................
MJ Raven
Director

.........................................
NR Raven
Director

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

Ravens Of Southend Limited
Notes to the Abbreviated Accounts for the Year Ended 31 January 2014
......... 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 April 2008).

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
Alterations to property	10 years straight line basis
Fixture and fittings	20% reducing balance basis
Motor vehicles	25% reducing balance basis
Computer equipment	3 years straight line basis

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.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Page 3

Ravens Of Southend Limited
Notes to the Abbreviated Accounts for the Year Ended 31 January 2014
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 February 2013		536,371			536,371
Disposals		(22,640)			(22,640)
At 31 January 2014		513,731			513,731
Depreciation
At 1 February 2013		482,501			482,501
Charge for the year		14,562			14,562
Eliminated on disposals		(16,969)			(16,969)
At 31 January 2014		480,094			480,094
Net book value
At 31 January 2014		33,637			33,637
At 31 January 2013		53,870			53,870

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		10,000			10,000			10,000			10,000

Page 4