Abbreviated Company Accounts - FOLEY'S ANTIQUES LTD

FOLEY'S ANTIQUES LTD - Company Information

Registered Number 08039946

FOLEY'S ANTIQUES LTD

Abbreviated Accounts

30 April 2015

FOLEY'S ANTIQUES LTD Registered Number 08039946

Abbreviated Balance Sheet as at 30 April 2015

	Notes	2015	2014
		£	£
Fixed assets
Intangible assets	2	8,500	9,000
		8,500	9,000
Current assets
Stocks		7,700	10,500
Debtors		13	-
Cash at bank and in hand		19,637	3,790
		27,350	14,290
Creditors: amounts falling due within one year		(35,624)	(22,740)
Net current assets (liabilities)		(8,274)	(8,450)
Total assets less current liabilities		226	550
Total net assets (liabilities)		226	550
Capital and reserves
Called up share capital		1	1
Profit and loss account		225	549
Shareholders' funds		226	550

For the year ending 30 April 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 January 2016

And signed on their behalf by:
RICHARD FOLEY, Director

FOLEY'S ANTIQUES LTD Registered Number 08039946

Notes to the Abbreviated Accounts for the period ended 30 April 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 April 2008.

Turnover policy
Turnover comprises the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts.

Intangible assets amortisation policy
Goodwill is the difference between the amount paid on the acquisition of a business and the aggregate fair value of its separable net assets. It is being written off in equal annual instalments over its estimated economic life.

Other accounting policies
Stocks:
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2Intangible fixed assets

	£
Cost
At 1 May 2014	10,000
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 30 April 2015	10,000
Amortisation
At 1 May 2014	1,000
Charge for the year	500
On disposals	-
At 30 April 2015	1,500
Net book values
At 30 April 2015	8,500
At 30 April 2014	9,000