Abbreviated Company Accounts - SEVERN VALLEY CYCLES LIMITED

SEVERN VALLEY CYCLES LIMITED - Company Information

08639505 SEVERN VALLEY CYCLES LIMITED 2014-08-31 false 2013-08-06 2014-08-31 true 08639505 2013-08-06 2014-08-31 08639505 2014-08-31 08639505 uk-gaap-cd-bus:Director1 2013-08-06 2014-08-31 08639505 uk-gaap-cd-bus:Director2 2013-08-06 2014-08-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-08-06 2014-08-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-08-31 iso4217:GBP shares

Registered Number 08639505

SEVERN VALLEY CYCLES LIMITED

Abbreviated Accounts

31 August 2014

SEVERN VALLEY CYCLES LIMITED Registered Number 08639505

Abbreviated Balance Sheet as at 31 August 2014

	Notes	2014
		£
Fixed assets
Intangible assets	2	8,497
Tangible assets	3	5,465
		13,962
Current assets
Stocks		11,200
Debtors		5,382
Cash at bank and in hand		19,491
		36,073
Creditors: amounts falling due within one year		(44,497)
Net current assets (liabilities)		(8,424)
Total assets less current liabilities		5,538
Creditors: amounts falling due after more than one year		(6,290)
Total net assets (liabilities)		(752)
Capital and reserves
Called up share capital	4	100
Profit and loss account		(852)
Shareholders' funds		(752)

For the year ending 31 August 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.

Approved by the Board on 23 April 2015

And signed on their behalf by:
Marcus Carrozzo, Director

SEVERN VALLEY CYCLES LIMITED Registered Number 08639505

Notes to the Abbreviated Accounts for the period ended 31 August 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the period and derives from the provisions of goods falling within the company's ordinary activities.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Plant and machinery - 20% straight line
Fixtures, fittings and equipment - 20% straight line

Intangible assets amortisation policy
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 10 years.

2Intangible fixed assets

	£
Cost
Additions	9,441
Disposals	-
Revaluations	-
Transfers	-
At 31 August 2014	9,441
Amortisation
Charge for the year	944
On disposals	-
At 31 August 2014	944
Net book values
At 31 August 2014	8,497

3Tangible fixed assets

	£
Cost
Additions	6,836
Disposals	-
Revaluations	-
Transfers	-
At 31 August 2014	6,836
Depreciation
Charge for the year	1,371
On disposals	-
At 31 August 2014	1,371
Net book values
At 31 August 2014	5,465

4Called Up Share Capital
Allotted, called up and fully paid:

	2014 £
100 Ordinary shares of £1 each	100