Elite Flooring Online Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 06910309 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 March 2015

for

Elite Flooring Online Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

T F Marsh

D D Price

REGISTERED OFFICE:

Unit 23

The Glenmore Centre

Shearway Business Park

Folkstone

Kent

CT19 4RJ

REGISTERED NUMBER:

06910309 (England and Wales)

ACCOUNTANT:

Aspirations Accountancy Ltd

C7-C8

Spectrum Business Centre

Anthony's Way

Rochester

Kent

ME2 4NP

FIXED ASSETS

Intangible assets

2

25,833

32,033

Tangible assets

3

34,572

43,094

60,405

75,127

CURRENT ASSETS

Stocks

129,624

54,791

Debtors

238,755

395,357

Cash at bank and in hand

38,857

52,613

407,236

502,761

CREDITORS

Amounts falling due within one year

312,232

357,926

NET CURRENT ASSETS

95,004

144,835

TOTAL ASSETS LESS CURRENT LIABILITIES

155,409

219,962

CREDITORS

Amounts falling due after more than one year

-

5,269

NET ASSETS

155,409

214,693

CAPITAL AND RESERVES

Called up share capital

4

60

60

Capital redemption reserve

30

30

Profit and loss account

155,319

214,603

SHAREHOLDERS' FUNDS

155,409

214,693

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 28 August 2015 and were signed on its behalf by:

T F Marsh - Director

D D Price - 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, except in respect of service

contracts where turnover is recognised when the company obtains the right to consideration.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, 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.

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's

pension scheme are charged to the profit and loss account in the period to which they relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

and 31 March 2015

62,000

AMORTISATION

At 1 April 2014

29,967

Amortisation for year

6,200

At 31 March 2015

36,167

NET BOOK VALUE

At 31 March 2015

25,833

At 31 March 2014

32,033

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

84,602

Additions

8,422

Disposals

(20,800

)

At 31 March 2015

72,224

DEPRECIATION

At 1 April 2014

41,508

Charge for year

11,523

Eliminated on disposal

(15,379

)

At 31 March 2015

37,652

NET BOOK VALUE

At 31 March 2015

34,572

At 31 March 2014

43,094

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

60

Ordinary

£1.00

60

60