SKM Accountants ( North West) Ltd - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 05593847

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2014

FOR

SKM ACCOUNTANTS ( NORTH WEST) LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

Mrs S Mahomed

SECRETARY:

M Moosa

REGISTERED OFFICE:

Pegasus House

5 Winckley Court

Mount street

Preston

Lancashire

PR1 8BU

REGISTERED NUMBER:

05593847

ACCOUNTANTS:

SKM Chartered Accountants

Pegasus House

5 Winckley Court

Mount Street

Preston

Lancashire

PR1 8BU

FIXED ASSETS

Intangible assets

2

82,500

90,000

Tangible assets

3

4,629

6,192

87,129

96,192

CURRENT ASSETS

Stocks

12,000

25,245

Debtors

66,831

50,288

Cash at bank and in hand

1,962

5,264

80,793

80,797

CREDITORS

Amounts falling due within one year

4

85,330

83,988

NET CURRENT LIABILITIES

(4,537

)

(3,191

)

TOTAL ASSETS LESS CURRENT LIABILITIES

82,592

93,001

CREDITORS

Amounts falling due after more than one year

4

(27,581

)

(56,493

)

PROVISIONS FOR LIABILITIES

(1,094

)

(965

)

NET ASSETS

53,917

35,543

CAPITAL AND RESERVES

Called up share capital

5

11,000

11,000

Profit and loss account

42,917

24,543

SHAREHOLDERS' FUNDS

53,917

35,543

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 22 September 2015 and were signed by:

Mrs S Mahomed - 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 services, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of twenty years.

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 etc

-

33% on cost and 25% Straight line

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.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2014

and 31 December 2014

150,000

AMORTISATION

At 1 January 2014

60,000

Amortisation for year

7,500

At 31 December 2014

67,500

NET BOOK VALUE

At 31 December 2014

82,500

At 31 December 2013

90,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2014

13,989

Additions

950

Disposals

(950

)

At 31 December 2014

13,989

DEPRECIATION

At 1 January 2014

7,797

Charge for year

2,093

Eliminated on disposal

(530

)

At 31 December 2014

9,360

NET BOOK VALUE

At 31 December 2014

4,629

At 31 December 2013

6,192

4.

CREDITORS

Creditors include an amount of £ 40,851 (2013 - £ 58,988 ) for which security has been given.

They also include the following debts falling due in more than five years:

2014

2013

£

£

Repayable by instalments

-

3,281

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

11,000

Ordinary

£1

11,000

11,000