Steve Russell Studios Ltd - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 04708949 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 30 June 2015

for

Steve Russell Studios Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

Mr S Russell

REGISTERED OFFICE:

Unit 19 Nailsworth Mills Estate

Avening Road

Nailsworth

Gloucestershire

GL6 0BS

REGISTERED NUMBER:

04708949 (England and Wales)

ACCOUNTANTS:

Francis & Co

Festival House

Jessop Avenue

Cheltenham

Gloucestershire

GL50 3SH

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

36,263

25,479

36,263

25,479

CURRENT ASSETS

Stocks

1,433

1,238

Debtors

52,155

29,727

Cash at bank and in hand

5,375

26,472

58,963

57,437

CREDITORS

Amounts falling due within one year

34,750

35,242

NET CURRENT ASSETS

24,213

22,195

TOTAL ASSETS LESS CURRENT LIABILITIES

60,476

47,674

CREDITORS

Amounts falling due after more than one year

-

417

NET ASSETS

60,476

47,257

CAPITAL AND RESERVES

Called up share capital

4

2

2

Profit and loss account

60,474

47,255

SHAREHOLDERS' FUNDS

60,476

47,257

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 28 July 2015 and were signed by:

Mr S Russell - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements 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 net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2014

and 30 June 2015

50,000

AMORTISATION

At 1 July 2014

and 30 June 2015

50,000

NET BOOK VALUE

At 30 June 2015

-

At 30 June 2014

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2014

106,668

Additions

22,872

At 30 June 2015

129,540

DEPRECIATION

At 1 July 2014

81,189

Charge for year

12,088

At 30 June 2015

93,277

NET BOOK VALUE

At 30 June 2015

36,263

At 30 June 2014

25,479

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.15

30.6.14

value:

£

£

2

Ordinary

£1

2

2