Company Registration No. 04596976 (England and Wales)
PAHAL JEWELLERS LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2014
PAHAL JEWELLERS LTD
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3
PAHAL JEWELLERS LTD
ABBREVIATED BALANCE SHEET
AS AT
30 NOVEMBER 2014
30 November 2014
- 1 -
2014
2013
Notes
£
£
£
£
Fixed assets
Intangible assets
2
6,300
6,825
Tangible assets
2
567
906
6,867
7,731
Current assets
Stocks
465,750
438,800
Debtors
13,088
10,644
Cash at bank and in hand
87,726
130,862
566,564
580,306
Creditors: amounts falling due within one year
(572,786)
(583,620)
Net current liabilities
(6,222)
(3,314)
Total assets less current liabilities
645
4,417
Provisions for liabilities
(113)
(181)
532
4,236
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
432
4,136
Shareholders' funds
532
4,236
PAHAL JEWELLERS LTD
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
30 NOVEMBER 2014
30 November 2014
- 2 -
For the financial year ended 30 November 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his 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 10 July 2015
Mr Darshan Pahal
Director
Company Registration No. 04596976
PAHAL JEWELLERS LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 NOVEMBER 2014
- 3 -
1
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).
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 goods and services net of VAT and trade discounts.
1.4
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 20 years.
1.5
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:
Fixtures, fittings & equipment
15% on cost
Motor vehicles
25% on cost
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 December 2013 & at 30 November 2014
10,500
25,925
36,425
Depreciation
At 1 December 2013
3,675
25,019
28,694
Charge for the year
525
339
864
At 30 November 2014
4,200
25,358
29,558
Net book value
At 30 November 2014
6,300
567
6,867
At 30 November 2013
6,825
906
7,731
3
Share capital
2014
2013
£
£
Allotted, called up and fully paid
100 Ordinary Shares of £1 each
100
100
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