NASCROFT_TRADING_LIMITED - Accounts

NASCROFT TRADING LTD - Company Information

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Company Registration No. 05622573 (England and Wales)

NASCROFT TRADING LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2014

NASCROFT TRADING LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

NASCROFT TRADING LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 AUGUST 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

2,240

4,097

Current assets

Debtors

1,838

8,469

Cash at bank and in hand

537

4,683

2,375

13,152

Creditors: amounts falling due within one year

(48,383)

(54,229)

Net current liabilities

(46,008)

(41,077)

Total assets less current liabilities

(43,768)

(36,980)

Capital and reserves

Called up share capital

1,168

Profit and loss account

(44,936)

(38,148)

Shareholders' funds

(43,768)

(36,980)

For the financial year ended 31 August 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 29 May 2015

Mr R Gundle

Director

Company Registration No. 05622573

NASCROFT TRADING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 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).

Operations are currently financed by the company's directors and are dependent upon their continued support in order to remain in operational existance. The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existance for the foreseeable future. If the company were unable to continue in operational existence for the foreseeable future, adjustments would have to be made to reduce the balance sheet value of assets to their recoverable amount and to provide for further liabilities which may arise. It may also be necessary to reclassify fixed assets and long term liabilities as current assets and current liabilities.

The directors have confirmed that they will continue to support the company.

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 licence royalties and fees net of VAT.

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:

Computer equipment

33% straight line basis

Fixtures, fittings and equipment

20% written down value

Fixed assets

Tangible assets

Cost

At 1 September 2013 & at 31 August 2014

5,869

Depreciation

At 1 September 2013

1,772

Charge for the year

1,857

At 31 August 2014

3,629

Net book value

At 31 August 2014

2,240

At 31 August 2013

4,097

NASCROFT TRADING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2014

- 3 -

Share capital

2014

2013

Allotted, called up and fully paid

1,168,306 Ordinary shares of 0.1p each

1,168