St. Ives Silver Ltd - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 06896198 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 March 2015

for

St. Ives Silver Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

T M Evans

REGISTERED OFFICE:

1a Berkeley Court, Berkeley Vale

Falmouth

Cornwall

TR11 3PB

REGISTERED NUMBER:

06896198 (England and Wales)

ACCOUNTANTS:

Harland Accountants

1a Berkeley Court, Berkeley Vale

Falmouth

Cornwall

TR11 3PB

FIXED ASSETS

Intangible assets

2

13,750

16,750

Tangible assets

3

12,582

15,397

26,332

32,147

CURRENT ASSETS

Stocks

15,285

22,710

Debtors

45,201

34,957

Cash at bank and in hand

9,762

5,313

70,248

62,980

CREDITORS

Amounts falling due within one year

83,798

105,645

NET CURRENT LIABILITIES

(13,550

)

(42,665

)

TOTAL ASSETS LESS CURRENT LIABILITIES

12,782

(10,518

)

CREDITORS

Amounts falling due after more than one year

(1,667

)

(12,667

)

PROVISIONS FOR LIABILITIES

(1,055

)

(1,242

)

NET ASSETS/(LIABILITIES)

10,060

(24,427

)

CAPITAL AND RESERVES

Called up share capital

4

10,000

10,000

Profit and loss account

60

(34,427

)

SHAREHOLDERS' FUNDS

10,060

(24,427

)

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 director acknowledges his 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 director on 30 December 2015 and were signed by:

T M Evans - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on the going concern basis, which assumes

that the company will continue in existence for the foreseeable future. The validity of this

assumption depends on the continued support of the company's bankers and director.

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten years.

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

-

in accordance with the property

Fixtures and fittings

-

15% on reducing balance

Office equipment

-

25% on reducing balance

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.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

and 31 March 2015

30,000

AMORTISATION

At 1 April 2014

13,250

Amortisation for year

3,000

At 31 March 2015

16,250

NET BOOK VALUE

At 31 March 2015

13,750

At 31 March 2014

16,750

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

and 31 March 2015

30,902

DEPRECIATION

At 1 April 2014

15,505

Charge for year

2,815

At 31 March 2015

18,320

NET BOOK VALUE

At 31 March 2015

12,582

At 31 March 2014

15,397

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

10,000

Ordinary

£1

10,000

10,000