Store It Right (EA) Limited - Period Ending 2015-10-31

Registration number: 07419636

Store It Right (EA) Limited
 
  Unaudited Abbreviated Accounts
 
  for the Year Ended 31 October 2015
 

Store It Right (EA) Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Store It Right (EA) Limited
for the Year Ended 31 October 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Store It Right (EA) Limited for the year ended 31 October 2015 set out on pages from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Store It Right (EA) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Store It Right (EA) Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Store It Right (EA) Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Store It Right (EA) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Store It Right (EA) Limited. You consider that Store It Right (EA) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Store It Right (EA) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Bemment Cooper
The Old Surgery
Victoria Road
Lowestoft
NR33 9LW

11 January 2016

Page 1

Store It Right (EA) Limited
(Registration number: 07419636)
Abbreviated Balance Sheet at 31 October 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets					323			-
Tangible fixed assets					29,044			24,232
					29,367			24,232
Current assets
Stocks					600			420
Cash at bank and in hand					19,309			6,487
					19,909			6,907
Creditors: Amounts falling due within one year					(15,867)			(11,308)
Net current assets/(liabilities)					4,042			(4,401)
Net assets					33,409			19,831
Capital and reserves
Called up share capital		3			1,000			1,000
Profit and loss account					32,409			18,831
Shareholders' funds					33,409			19,831

For the year ending 31 October 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 director acknowledges her 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 director on 13 February 2016

.........................................
B Ross
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Store It Right (EA) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Trademarks	5% straight line

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	15% reducing balance
Motor vehicles	25% reducing balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 November 2014		-			34,145			34,145
Additions		340			15,242			15,582
Disposals		-			(3,333)			(3,333)
At 31 October 2015		340			46,054			46,394
Depreciation
At 1 November 2014		-			9,913			9,913
Charge for the year		17			7,097			7,114
At 31 October 2015		17			17,010			17,027
Net book value
At 31 October 2015		323			29,044			29,367
At 31 October 2014		-			24,232			24,232

Page 3

Store It Right (EA) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2015
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary of £1 each		1,000			1,000			1,000			1,000

Page 4