Abbreviated Company Accounts - THE KYFFIN GALLERY LTD

THE KYFFIN GALLERY LTD - Company Information

07978620 THE KYFFIN GALLERY LTD 2015-03-31 false 2014-04-01 2015-03-31 true 07978620 2014-04-01 2015-03-31 07978620 2015-03-31 07978620 2014-03-31 07978620 uk-gaap-cd-bus:Director1 2014-04-01 2015-03-31 07978620 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 07978620

THE KYFFIN GALLERY LTD

Abbreviated Accounts

31 March 2015

THE KYFFIN GALLERY LTD Registered Number 07978620

Abbreviated Balance Sheet as at 31 March 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	3,200	4,000
		3,200	4,000
Current assets
Stocks		210,848	214,943
Debtors		-	22,630
Cash at bank and in hand		21,040	2,610
		231,888	240,183
Creditors: amounts falling due within one year		(234,941)	(240,704)
Net current assets (liabilities)		(3,053)	(521)
Total assets less current liabilities		147	3,479
Total net assets (liabilities)		147	3,479
Capital and reserves
Called up share capital	3	1	1
Profit and loss account		146	3,478
Shareholders' funds		147	3,479

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 5 January 2016

And signed on their behalf by:
R Condon, Director

THE KYFFIN GALLERY LTD Registered Number 07978620

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 April 2008.

Turnover policy
Turnover comprises revenue recognised by the company in respect of goods sold during the year

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures and equipment - 20% reducing balance

Other accounting policies
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving stocks.

2Tangible fixed assets

	£
Cost
At 1 April 2014	5,850
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2015	5,850
Depreciation
At 1 April 2014	1,850
Charge for the year	800
On disposals	-
At 31 March 2015	2,650
Net book values
At 31 March 2015	3,200
At 31 March 2014	4,000

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

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