| Shappos Limited |
| Registered number: |
08029807 |
| Abbreviated Balance Sheet |
| as at 30 September 2014 |
|
| Notes |
|
|
2014 |
|
|
2013 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
2 |
|
|
3,029 |
|
|
4,717 |
|
| Current assets |
| Stocks |
|
|
5,292 |
|
|
5,841 |
| Cash at bank and in hand |
|
|
318 |
|
|
465 |
|
|
|
5,610 |
|
|
6,306 |
|
| Creditors: amounts falling due within one year |
|
|
(22,430) |
|
|
(21,278) |
|
| Net current liabilities |
|
|
|
(16,820) |
|
|
(14,972) |
|
| Total assets less current liabilities |
|
|
|
(13,791) |
|
|
(10,255) |
|
| Creditors: amounts falling due after more than one year |
|
|
|
- |
|
|
(70) |
|
|
|
| Net liabilities |
|
|
|
(13,791) |
|
|
(10,325) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
3 |
|
|
100 |
|
|
100 |
| Profit and loss account |
|
|
|
(13,891) |
|
|
(10,425) |
|
| Shareholders' funds |
|
|
|
(13,791) |
|
|
(10,325) |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
| T J Denford |
| Director |
| Approved by the board on 26 June 2015 |
|
| Shappos Limited |
| Notes to the Abbreviated Accounts |
| for the year ended 30 September 2014 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). |
|
|
Going concern |
|
The accounts have been prepared on a going concern basis despite the company incurring losses in its first two years of trading and having limited access to funding reesources. The directors consider this basis to be appropriate due to their willingness to provide further funds to the company (if required) to enable a profitable trading basis to be established. |
|
|
Turnover |
|
Turnover represents the value, net of value added tax and discounts, of goods provided to customers. |
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Website |
20% straight line |
|
Computer and office equipment |
33% straight line |
|
|
Stocks |
|
Stock is valued at the lower of cost and net realisable value. |
|
|
Deferred taxation |
|
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. The residual balance of tax losses carried forward by te company has not been recognised as an asset as its recovery is not yet certain. |
|
|
Foreign currencies |
|
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account. |
|
|
Leasing and hire purchase commitments |
|
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.
The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.
Rentals paid under operating leases are charged to income on a straight line basis over the lease term. |
|
|
| 2 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 October 2013 |
6,143 |
|
At 30 September 2014 |
6,143 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 October 2013 |
1,426 |
|
Charge for the year |
1,688 |
|
At 30 September 2014 |
3,114 |
|
|
|
|
|
|
|
|
Net book value |
|
At 30 September 2014 |
3,029 |
|
At 30 September 2013 |
4,717 |
|
|
|
|
|
|
|
|
| 3 |
Share capital |
Nominal |
|
2014 |
|
2014 |
|
2013 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
100 |
|
100 |
|
100 |
|
|
|
|
|
|
|
|
|
