Detail Retail Limited - Limited company - abbreviated

REGISTERED NUMBER: 07769071 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

FOR

DETAIL RETAIL LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr C Brammall

Ms H J Schramli

REGISTERED OFFICE:

Low Mill Business Park

Morecambe Road

Ulverston

Cumbria

LA12 9EE

REGISTERED NUMBER:

07769071 (England and Wales)

ACCOUNTANTS:

J F Hornby & Co

Chartered Accountants

The Tower

Daltongate Business Centre

Daltongate

Ulverston

Cumbria

LA12 7AJ

BANKERS:

The Cooperative Bank

PO Box 250

Delf House

Southway

Skelmersdale

WN8 6WT

FIXED ASSETS

Tangible assets

2

42,131

65,143

CURRENT ASSETS

Stocks

28,707

51,011

Debtors

1,667

4,667

Cash at bank and in hand

5,453

3,822

35,827

59,500

CREDITORS

Amounts falling due within one year

45,049

62,167

NET CURRENT LIABILITIES

(9,222

)

(2,667

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

32,909

62,476

CREDITORS

Amounts falling due after more than one
year

47,750

51,500

NET (LIABILITIES)/ASSETS

(14,841

)

10,976

CAPITAL AND RESERVES

Called up share capital

3

2

Profit and loss account

(14,843

)

10,974

SHAREHOLDERS' FUNDS

(14,841

)

10,976

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 17 November 2015 and were signed on its behalf
by:

Ms H J Schramli - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on the going concern basis the director having agreed to continue to

support the company.

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).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

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

-

20% on cost and 2% on cost

Fixtures and fittings

-

33% on cost and 20% on cost

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

88,439

Disposals

(14,911

)

At 31 March 2015

73,528

DEPRECIATION

At 1 April 2014

23,296

Charge for year

12,226

Eliminated on disposal

(4,125

)

At 31 March 2015

31,397

NET BOOK VALUE

At 31 March 2015

42,131

At 31 March 2014

65,143

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.15

31.3.14

value:

£

2

Ordinary

£1

2

4.	RELATED PARTY DISCLOSURES

At 31 March 2015, Mrs H Schramli, a director of the company, had on an unsecured interest free basis advanced

£54,474 to the company.

(Prior year £60,331)

During the year the company purchased goods at arms length from Chris Brammall Limited, a company owned

and controlled by the directors, totalling £1,710 (2014: £5,170).

At the year end the company owed £3,531 (2014: £4,321) to Chris Brammall Limited.

Detail Retail Limited - Limited company - abbreviated - 11.9

Detail Retail Limited - Limited company - abbreviated - 11.9