Timepiece Watch Repairs Ltd - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 03796946 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31ST MARCH 2015

FOR

TIMEPIECE WATCH REPAIRS LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

M Warren

Mrs S M Warren

SECRETARY:

Mrs S M Warren

REGISTERED OFFICE:

67 Chorley Old Road

Bolton

BL1 3AJ

REGISTERED NUMBER:

03796946 (England and Wales)

ACCOUNTANTS:

Ryans

Chartered Accountants

67 Chorley Old Road

Bolton

BL1 3AJ

BANKERS:

Santander UK plc

Bridle Road

Bootle

Merseyside

GIR 0AA

SOLICITORS:

Alker & Ball

31-33 King Street

Wigan

WN1 1EG

FIXED ASSETS

Tangible assets

2

406,574

407,141

CURRENT ASSETS

Stocks

599,344

760,597

Debtors

1,727,762

1,315,881

Cash at bank and in hand

186,309

281,656

2,513,415

2,358,134

CREDITORS

Amounts falling due within one year

305,307

501,142

NET CURRENT ASSETS

2,208,108

1,856,992

TOTAL ASSETS LESS CURRENT LIABILITIES

2,614,682

2,264,133

PROVISIONS FOR LIABILITIES

16,650

19,048

NET ASSETS

2,598,032

2,245,085

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

2,597,932

2,244,985

SHAREHOLDERS' FUNDS

2,598,032

2,245,085

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 7th October 2015 and were signed on its behalf by:

M Warren - 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

Revenue,described as turnover, represents the value of goods and services (net of VAT) provided to customers

during the year.

Tangible fixed assets

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

Freehold property

-

not provided

Improvements to short leasehold property

-

10% on cost

Plant and machinery

-

15% on cost

Fixtures and fittings

-

10% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% 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.

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.

Current asset investments

Current asset investments are stated at the lower of cost and market value on an individual holding basis.

Cost represents the original purchase price plus accumulated non-distributed income.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st April 2014

632,484

Additions

29,153

At 31st March 2015

661,637

DEPRECIATION

At 1st April 2014

225,343

Charge for year

29,720

At 31st March 2015

255,063

NET BOOK VALUE

At 31st March 2015

406,574

At 31st March 2014

407,141

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

100

Ordinary

£1

100

100

4.	ULTIMATE CONTROLLING PARTY

The company was controlled throughout the period by its directors, by virtue of the fact that they have a

beneficial interest in all of the company's share capital.