Solution Cornwall Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 06843472 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

FOR

SOLUTION CORNWALL LIMITED

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

3

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

15,844

21,107

15,844

21,107

CURRENT ASSETS

Stocks

56,000

50,550

Debtors

4

25,577

36,883

Cash at bank

6,518

22,869

88,095

110,302

CREDITORS

Amounts falling due within one year

95,172

119,062

NET CURRENT LIABILITIES

(7,077

)

(8,760

)

TOTAL ASSETS LESS CURRENT LIABILITIES

8,767

12,347

CREDITORS

Amounts falling due after more than one year

(2,917

)

(8,216

)

PROVISIONS FOR LIABILITIES

(1,900

)

(2,600

)

NET ASSETS

3,950

1,531

CAPITAL AND RESERVES

Called up share capital

5

100

100

Profit and loss account

3,850

1,431

SHAREHOLDERS' FUNDS

3,950

1,531

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 10 December 2015 and were signed on its behalf by:

N C Vousden-White - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements are prepared on the going concern basis assuming the continued support of the

Directors.

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.

Tangible fixed assets

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

Improvements to property

-

over the period of the lease

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

25% 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance

sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date

of transaction. Exchange differences are taken into account in arriving at the operating result.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

and 31 March 2015

506

AMORTISATION

At 1 April 2014

and 31 March 2015

506

NET BOOK VALUE

At 31 March 2015

-

At 31 March 2014

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

39,401

Disposals

(864

)

At 31 March 2015

38,537

DEPRECIATION

At 1 April 2014

18,294

Charge for year

4,994

Eliminated on disposal

(595

)

At 31 March 2015

22,693

NET BOOK VALUE

At 31 March 2015

15,844

At 31 March 2014

21,107

4.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

The aggregate total of debtors falling due after more than one year is £ 2,794

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.15

31.3.14

value:

£

£

100

Ordinary

£1

100

100

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2015 and

31 March 2014:

31.3.15

31.3.14

£

£

N C Vousden-White

Balance outstanding at start of year

11,177

4,957

Amounts advanced

1,745

11,238

Amounts repaid

(3,416

)

(5,018

)

Balance outstanding at end of year

9,506

11,177

Interest was charged, at the official rate, on all amounts advanced to the director this year. Total interest charged

was £333 (2014 : £316).

7.	ULTIMATE CONTROLLING PARTY

The controlling party is N C Vousden-White.