Sarah Layton (Jewellery) Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 07187769 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

FOR

SARAH LAYTON (JEWELLERY) LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Miss L J Holmes

N R Layton-Hill

Mrs G C Layton-Hill

Miss L S Holmes

REGISTERED OFFICE:

71 King Street

Whalley

Clitheroe

Lancashire

BB7 9SW

REGISTERED NUMBER:

07187769 (England and Wales)

ACCOUNTANTS:

DPM Accounting Services Ltd

Chartered Accountants

The Old Vicarage

50 Fielding Lane

Oswaldtwistle

Lancashire

BB5 3BH

FIXED ASSETS

Tangible assets

2

62,837

75,767

CURRENT ASSETS

Stocks

395,000

312,000

Debtors

-

75

Cash at bank

8,850

3

403,850

312,078

CREDITORS

Amounts falling due within one year

249,893

195,627

NET CURRENT ASSETS

153,957

116,451

TOTAL ASSETS LESS CURRENT LIABILITIES

216,794

192,218

CREDITORS

Amounts falling due after more than one year

(8,861

)

(24,158

)

PROVISIONS FOR LIABILITIES

(15,153

)

(15,153

)

NET ASSETS

192,780

152,907

CAPITAL AND RESERVES

Called up share capital

3

50

50

Profit and loss account

192,730

152,857

SHAREHOLDERS' FUNDS

192,780

152,907

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 10 September 2015 and were signed on its behalf by:

Mrs G C Layton-Hill - 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on cost

Fixtures and fittings

-

20% on cost

Computer equipment

-

33% on cost

Stocks

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

obsolete and slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Hire purchase and leasing commitments

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.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

114,654

Additions

5,380

At 31 March 2015

120,034

DEPRECIATION

At 1 April 2014

38,887

Charge for year

18,310

At 31 March 2015

57,197

NET BOOK VALUE

At 31 March 2015

62,837

At 31 March 2014

75,767

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.15

31.3.14

value:

£

£

50

Ordinary

£1

50

50