THE_ESSENTIAL_DESIGN_COMP - Accounts

HENRY SANDERSON INTERIORS LTD - Company Information

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Company Registration No. 05728482 (England and Wales)

THE ESSENTIAL DESIGN COMPANY LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

THE ESSENTIAL DESIGN COMPANY LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

THE ESSENTIAL DESIGN COMPANY LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

5,389

7,132

Current assets

Stocks

8,394

Debtors

137,329

213,000

Cash at bank and in hand

9,070

2,437

154,793

223,831

Creditors: amounts falling due within one year

(173,200)

(212,249)

Net current (liabilities)/assets

(18,407)

11,582

Total assets less current liabilities

(13,018)

18,714

Creditors: amounts falling due after more than one year

(23,356)

(36,374)

18,714

Capital and reserves

Called up share capital

Profit and loss account

(36,386)

18,702

Shareholders' funds

(36,374)

18,714

For the financial year ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

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

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 22 December 2015

Mr T S Wilson

Director

Company Registration No. 05728482

THE ESSENTIAL DESIGN COMPANY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Not withstanding the losses incurred in the year the company will be supported by a shareholder Henry Sanderson & Co Limited a company controlled by Mr T S Wilson a director of the company . On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

25% reducing balance

Computer equipment

25% reducing balance

Fixtures, fittings & equipment

25% reducing balance

1.5

Long term contracts

Amounts recoverable on long term contracts, which are included in debtors, are stated at the net sales value of the work done after provision for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments on account.

Fixed assets

Tangible assets

Cost

At 1 April 2014 & at 31 March 2015

23,246

Depreciation

At 1 April 2014

16,114

Charge for the year

1,743

At 31 March 2015

17,857

Net book value

At 31 March 2015

5,389

At 31 March 2014

7,132

THE ESSENTIAL DESIGN COMPANY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2015

- 3 -

Share capital

2015

2014

Allotted, called up and fully paid

12 Ordinary of £1 each

Ultimate parent company

There is no ultimate controlling party.