Abbreviated Company Accounts - EUROPEAN SADDLES LIMITED

EUROPEAN SADDLES LIMITED - Company Information

08128837 EUROPEAN SADDLES LIMITED 2015-08-31 false 2014-09-01 2015-08-31 true 08128837 2014-09-01 2015-08-31 08128837 2015-08-31 08128837 2014-08-31 08128837 uk-gaap-cd-bus:Director1 2014-09-01 2015-08-31 08128837 uk-gaap-cd-bus:Director2 2014-09-01 2015-08-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-09-01 2015-08-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-08-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-08-31 iso4217:GBP shares

Registered Number 08128837

EUROPEAN SADDLES LIMITED

Abbreviated Accounts

31 August 2015

EUROPEAN SADDLES LIMITED Registered Number 08128837

Abbreviated Balance Sheet as at 31 August 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	25,071	21,475
		25,071	21,475
Current assets
Stocks		92,516	59,900
Debtors		9,484	6,838
Cash at bank and in hand		6,704	22,199
		108,704	88,937
Creditors: amounts falling due within one year		(47,875)	(50,658)
Net current assets (liabilities)		60,829	38,279
Total assets less current liabilities		85,900	59,754
Creditors: amounts falling due after more than one year		(87,025)	(57,972)
Provisions for liabilities		(1,371)	(1,001)
Total net assets (liabilities)		(2,496)	781
Capital and reserves
Called up share capital	3	2	2
Profit and loss account		(2,498)	779
Shareholders' funds		(2,496)	781

For the year ending 31 August 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 27 January 2016

And signed on their behalf by:
Miss T Howard, Director

EUROPEAN SADDLES LIMITED Registered Number 08128837

Notes to the Abbreviated Accounts for the period ended 31 August 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 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 has been provided at the following rates in order to write off the assets over their estimated useful lives.

Plant and machinery 25% written down value
Motor vehicles 25% written down value

Valuation information and policy
Stocks
Stock is valued at the lower of cost and net realisable value.

Other accounting policies
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
Transaction sin 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 September 2014	25,301
Additions	26,648
Disposals	(21,958)
Revaluations	0
Transfers	0
At 31 August 2015	29,991
Depreciation
At 1 September 2014	3,826
Charge for the year	6,241
On disposals	(5,147)
At 31 August 2015	4,920
Net book values
At 31 August 2015	25,071
At 31 August 2014	21,475

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

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