Radiant Blinds Limited - Period Ending 2015-05-31

Registration number: 04768596

Radiant Blinds Limited
 
Formerly known as Radiant Blinds Accessories Limited
 
 Annual Report and Unaudited Abbreviated Accounts
 
 for the Year Ended 31 May 2015
 

Merranti Accounting Limited
11a Scandia-Hus Business Pk
Felcourt Road
Felcourt
East Grinstead
West Sussex
RH19 2LP

Radiant Blinds Limited
Contents

Accountants' Report 2

Abbreviated Balance Sheet 3 to 4

Notes to the Abbreviated Accounts 5 to 6

The company changed its name from Radiant Blinds Accessories Limited to Radiant Blinds Limited on 6 January 2015.

Page 1

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 3 to 6) have been prepared.

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Radiant Blinds Limited
for the Year Ended 31 May 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Radiant Blinds Limited for the year ended 31 May 2015 set out on pages from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Radiant Blinds Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Radiant Blinds Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Radiant Blinds Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Radiant Blinds Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Radiant Blinds Limited. You consider that Radiant Blinds Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Radiant Blinds Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Merranti Accounting Limited
11a Scandia-Hus Business Pk
Felcourt Road
Felcourt
East Grinstead
West Sussex
RH19 2LP

12 November 2015

Page 2

Radiant Blinds Limited
(Registration number: 04768596)
Abbreviated Balance Sheet at 31 May 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets					12,000			-
Tangible fixed assets					45,201			-
					57,201			-
Current assets
Stocks					47,257			-
Debtors					169,048			2
Cash at bank and in hand					15,243			-
					231,548			2
Creditors: Amounts falling due within one year					(303,744)			-
Net current (liabilities)/assets					(72,196)			2
Net (liabilities)/assets					(14,995)			2
Capital and reserves
Called up share capital		3			2			2
Profit and loss account					(14,997)			-
Shareholders' (deficit)/funds					(14,995)			2

For the year ending 31 May 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 12 November 2015 and signed on its behalf by:

The notes on pages 5 to 6 form an integral part of these financial statements.
Page 3

Radiant Blinds Limited
(Registration number: 04768596)
Abbreviated Balance Sheet at 31 May 2015
......... continued

.........................................
Mr Gregory Alexander Ramon Emerson
Director

The notes on pages 5 to 6 form an integral part of these financial statements.
Page 4

Radiant Blinds Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	20% Straight Line

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Motor Vehicles	20% Straight Line
Computer and office equipment	25% Straight Line
Plant and machinery	20% Straight Line

Stock and work in progress

Stock and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Subject to the agreement of HMRC the company has taxable trading losses of £60,799 (2014 - £nil) available for offset against future trading profits. No deferred tax asset has been recognised in respect of these losses.

Page 5

Radiant Blinds Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2015
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
Additions		15,000			57,275			72,275
Disposals		-			(600)			(600)
At 31 May 2015		15,000			56,675			71,675
Depreciation
Charge for the year		3,000			11,474			14,474
At 31 May 2015		3,000			11,474			14,474
Net book value
At 31 May 2015		12,000			45,201			57,201

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary share capital of £1 each		2			2			2			2

Page 6