Sussex Podiatrists Ltd - Period Ending 2014-08-31

Registration number: 05546929

Sussex Podiatrists Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 August 2014
 

Howard and Co
Monkhurst House Offices
Sandy Cross Lane
Heathfield
East Sussex
TN21 8QR

Sussex Podiatrists Ltd
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

Sussex Podiatrists Ltd
(Registration number: 05546929)
Abbreviated Balance Sheet at 31 August 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					98,523			64,733
Investments					6,000			6,000
					104,523			70,733
Current assets
Stocks					300			300
Debtors					1,542			930
Cash at bank and in hand					30,328			43,729
					32,170			44,959
Creditors: Amounts falling due within one year					(16,879)			(10,823)
Net current assets					15,291			34,136
Total assets less current liabilities					119,814			104,869
Provisions for liabilities					(7,081)			-
Net assets					112,733			104,869
Capital and reserves
Called up share capital		3			2			2
Profit and loss account					112,731			104,867
Shareholders' funds					112,733			104,869

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 director acknowledges his 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 director on 30 May 2015

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

Sussex Podiatrists Ltd
(Registration number: 05546929)
Abbreviated Balance Sheet at 31 August 2014
......... continued

.........................................
Clive Jones
Director

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

Sussex Podiatrists Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 August 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 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
Plant and machinery	15% on reducing balance
Fixtures and fittings	25% on reducing balance

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

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.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Sussex Podiatrists Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 August 2014
......... continued

2	Fixed assets

		Tangible assets £			Investments £			Total £
Cost
At 1 September 2013		94,296			6,000			100,296
Additions		40,957			-			40,957
At 31 August 2014		135,253			6,000			141,253
Depreciation
At 1 September 2013		29,563			-			29,563
Charge for the year		7,167			-			7,167
At 31 August 2014		36,730			-			36,730
Net book value
At 31 August 2014		98,523			6,000			104,523
At 31 August 2013		64,733			6,000			70,733

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary of £1 each		2			2			2			2

4	Related party transactions

Director's advances and credits

	2014 Advance/ Credit £	2014 Repaid £	2013 Advance/ Credit £	2013 Repaid £
Clive Jones
	60,736	60,677	-	-

Page 4