THE_ESSENTIAL_DESIGN_COMP - Accounts

HENRY SANDERSON INTERIORS LTD - Company Information

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Company Registration No. 05728482 (England and Wales)

THE ESSENTIAL DESIGN COMPANY LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014

THE ESSENTIAL DESIGN COMPANY LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

THE ESSENTIAL DESIGN COMPANY LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

7,132

8,324

Current assets

Stocks

8,394

Debtors

213,000

493,961

Cash at bank and in hand

2,437

223,831

502,355

Creditors: amounts falling due within one year

(212,249)

(490,116)

Net current assets

11,582

12,239

Total assets less current liabilities

18,714

20,563

Creditors: amounts falling due after more than one year

(6,416)

18,714

14,147

Capital and reserves

Called up share capital

Profit and loss account

18,702

14,135

Shareholders' funds

18,714

14,147

For the financial year ended 31 March 2014 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 year 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 31 March 2015

Mr T S Wilson

Director

Company Registration No. 05728482

THE ESSENTIAL DESIGN COMPANY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014

- 2 -

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 April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

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% reducing balance

Computer equipment

25% reducing balance

Fixtures, fittings & equipment

25% reducing balance

Motor vehicles

25% reducing balance

1.5

Long term contracts

Amounts recoverable on long term contracts, which are included in debtors, are stated at the net sales value of the work done after provision for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments on account.

1.6

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

THE ESSENTIAL DESIGN COMPANY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2014

- 3 -

Fixed assets

Tangible assets

Cost

At 1 April 2013

22,114

Additions

1,132

At 31 March 2014

23,246

Depreciation

At 1 April 2013

13,790

Charge for the year

2,324

At 31 March 2014

16,114

Net book value

At 31 March 2014

7,132

At 31 March 2013

8,324

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £0 (2013 - £54,643).

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £0 (2013 - £6,416).

Share capital

2014

2013

Allotted, called up and fully paid

12 Ordinary of £1 each

Ultimate parent company

There is no ultimate controlling party.