Clothesline Fashion Agencies Limited - Limited company accounts 11.7

REGISTERED NUMBER: 07416616 (England and Wales)

Report of the Directors and

Unaudited Financial Statements

for the Year Ended 31 March 2015

for

Clothesline Fashion Agencies Limited

Page

Company Information

1

Report of the Directors

2

Profit and Loss Account

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTORS:

Mrs L L Kettles

I A Kettles

SECRETARY:

REGISTERED OFFICE:

1st Floor

6 Caer Street

Swansea

SA1 3PP

REGISTERED NUMBER:

07416616 (England and Wales)

ACCOUNTANTS:

Owen John & Co Ltd

Chartered Accountants

1st Floor

6 Caer Street

Swansea

SA1 3PP

The directors present their report with the financial statements of the company for the year ended 31 March 2015.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2014 to the date of this report.

Mrs L L Kettles

I A Kettles

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating

to small companies.

ON BEHALF OF THE BOARD:

I A Kettles - Director

9 December 2015

TURNOVER

65,265

62,200

Administrative expenses

17,342

20,407

OPERATING PROFIT and

PROFIT ON ORDINARY ACTIVITIES
BEFORE TAXATION

2

47,923

41,793

Tax on profit on ordinary activities

3

9,735

8,640

PROFIT FOR THE FINANCIAL YEAR

38,188

33,153

FIXED ASSETS

Intangible assets

5

14,000

Tangible assets

6

3,465

4,217

17,465

18,217

CURRENT ASSETS

Debtors

7

779

523

Cash at bank

42,993

27,606

43,772

28,129

CREDITORS

Amounts falling due within one year

8

48,651

31,948

NET CURRENT LIABILITIES

(4,879

)

(3,819

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

12,586

14,398

CAPITAL AND RESERVES

Called up share capital

9

2

Profit and loss account

10

12,584

14,396

SHAREHOLDERS' FUNDS

12,586

14,398

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 financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements were approved by the Board of Directors on 9 December 2015 and were signed on its behalf
by:

I A Kettles - 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 0, is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets

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

Deferred tax

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

balance sheet date.

2.	OPERATING PROFIT

The operating profit is stated after charging:

2015

2014

£

Depreciation - owned assets

1,155

1,406

Directors' remuneration and other benefits etc

-

3.

TAXATION

Analysis of the tax charge

The tax charge on the profit on ordinary activities for the year was as follows:

2015

2014

£

Current tax:

UK corporation tax

9,735

8,640

Tax on profit on ordinary activities

9,735

8,640

4.

DIVIDENDS

2015

2014

£

Ordinary shares of £1 each

Final

40,000

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2014

and 31 March 2015

14,000

NET BOOK VALUE

At 31 March 2015

14,000

At 31 March 2014

14,000

6.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2014

9,995

Additions

403

At 31 March 2015

10,398

DEPRECIATION

At 1 April 2014

5,778

Charge for year

1,155

At 31 March 2015

6,933

NET BOOK VALUE

At 31 March 2015

3,465

At 31 March 2014

4,217

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2015

2014

£

Trade debtors

316

-

Other debtors

463

523

779

523

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2015

2014

£

Trade creditors

-

1,716

Taxation and social security

9,735

8,640

Other creditors

38,916

21,592

48,651

31,948

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

2

Ordinary

£1

2

10.

RESERVES

Profit

and loss

account

£

At 1 April 2014

14,396

Profit for the year

38,188

Dividends

(40,000

)

At 31 March 2015

12,584