Abbreviated Company Accounts - 1512 DESIGN LIMITED

1512 DESIGN LIMITED - Company Information

08014402 1512 DESIGN LIMITED 2014-08-31 false 2013-09-01 2014-08-31 true 08014402 2013-09-01 2014-08-31 08014402 2014-08-31 08014402 2013-08-31 08014402 uk-gaap-cd-bus:Director1 2013-09-01 2014-08-31 08014402 uk-gaap-cd-bus:Director2 2013-09-01 2014-08-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-09-01 2014-08-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-08-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-08-31 iso4217:GBP shares

Registered Number 08014402

1512 DESIGN LIMITED

Abbreviated Accounts

31 August 2014

1512 DESIGN LIMITED Registered Number 08014402

Abbreviated Balance Sheet as at 31 August 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	2	330	109
		330	109
Current assets
Stocks		21,790	16,618
Debtors		51,200	28,417
Cash at bank and in hand		1,879	1,254
		74,869	46,289
Creditors: amounts falling due within one year	3	(75,071)	(59,344)
Net current assets (liabilities)		(202)	(13,055)
Total assets less current liabilities		128	(12,946)
Total net assets (liabilities)		128	(12,946)
Capital and reserves
Called up share capital	4	100	100
Profit and loss account		28	(13,046)
Shareholders' funds		128	(12,946)

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 7 May 2015

And signed on their behalf by:
J Austin-Lee, Director

1512 DESIGN LIMITED Registered Number 08014402

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

1Accounting Policies

Basis of measurement and preparation of accounts
Basis of preparation

The accounts have been prepared under the historical cost convention and in accordance with applicable accounting standards.

Cash flow statement

The company qualifies as a small company under the Companies Act 2006. The directors have elected to take advantage of the exemption under FRS1 not to prepare a cash flow statement.

Turnover

Turnover represents amounts receivable during the year net of VAT.

Depreciation

Depreciation of tangible fixed assets is provided on cost over their estimated useful lives. The annual rates and methods of depreciation are as follows:-

Office equipment 33% straight line basis

Stock

Stock is valued at the lower of cost and net realisable value.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed by the balance sheet date. Deferred tax is not recognised when assets are revalued unless, by the balance sheet date, the company has entered into a binding agreement to sell the assets and recognised gains or losses expected to arise on sale.

2Tangible fixed assets

	£
Cost
At 1 September 2013	119
Additions	275
Disposals	-
Revaluations	-
Transfers	-
At 31 August 2014	394
Depreciation
At 1 September 2013	10
Charge for the year	54
On disposals	-
At 31 August 2014	64
Net book values
At 31 August 2014	330
At 31 August 2013	109

3Creditors

	2014 £	2013 £
Secured Debts	21,671	18,477

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

	2014 £	2013 £
100 Ordinary shares of £1 each	100	100