Abbreviated Company Accounts - INNERSPACE (CHESHIRE) LIMITED

INNERSPACE (CHESHIRE) LIMITED - Company Information

06019321 INNERSPACE (CHESHIRE) LIMITED 2015-03-31 false 2014-04-01 2015-03-31 true 06019321 2014-04-01 2015-03-31 06019321 2015-03-31 06019321 2014-03-31 06019321 uk-gaap-cd-bus:Director1 2014-04-01 2015-03-31 06019321 uk-gaap-cd-bus:Director2 2014-04-01 2015-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-04-01 2015-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-03-31 iso4217:GBP shares

Registered Number 06019321

INNERSPACE (CHESHIRE) LIMITED

Abbreviated Accounts

31 March 2015

INNERSPACE (CHESHIRE) LIMITED Registered Number 06019321

Abbreviated Balance Sheet as at 31 March 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	147,777	163,552
		147,777	163,552
Current assets
Stocks		6,451	14,689
Debtors		116,781	104,633
Cash at bank and in hand		212,400	68,402
		335,632	187,724
Creditors: amounts falling due within one year		(105,190)	(77,327)
Net current assets (liabilities)		230,442	110,397
Total assets less current liabilities		378,219	273,949
Creditors: amounts falling due after more than one year		(48,149)	(53,640)
Provisions for liabilities		(1,335)	(2,022)
Total net assets (liabilities)		328,735	218,287
Capital and reserves
Called up share capital	3	2	2
Profit and loss account		328,733	218,285
Shareholders' funds		328,735	218,287

For the year ending 31 March 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 22 December 2015

And signed on their behalf by:
I D Lamb, Director

INNERSPACE (CHESHIRE) LIMITED Registered Number 06019321

Notes to the Abbreviated Accounts for the period ended 31 March 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective January 2015.

Turnover policy
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

Tangible assets depreciation policy
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Equipment 20% per annum of net book value
Motor vehicles 25% per annum of net book value

Other accounting policies
Stocks
Stock is valued at the lower of cost and net realisable value.

Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.

Foreign currencies
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.

Leasing and hire purchase commitments
"Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term."

2Tangible fixed assets

	£
Cost
At 1 April 2014	208,056
Additions	509
Disposals	(167)
Revaluations	-
Transfers	-
At 31 March 2015	208,398
Depreciation
At 1 April 2014	44,504
Charge for the year	16,117
On disposals	-
At 31 March 2015	60,621
Net book values
At 31 March 2015	147,777
At 31 March 2014	163,552

3Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
2 Ordinary shares of £1 each	2	2