Abbreviated Company Accounts - FRESCO PICTUREWALL LIMITED

Abbreviated Company Accounts - FRESCO PICTUREWALL LIMITED

FRESCO PICTUREWALL LIMITED - Company Information

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Registered Number 02894207

FRESCO PICTUREWALL LIMITED

Abbreviated Accounts

30 April 2015

FRESCO PICTUREWALL LIMITED Registered Number 02894207

Abbreviated Balance Sheet as at 30 April 2015

Notes 2015 2014
£ £
Fixed assets
Intangible assets 2 - 25,000
Tangible assets 3 20,448 5,969
Investments 4 100 100
20,548 31,069
Current assets
Stocks 18,756 14,449
Debtors 120,800 96,401
Cash at bank and in hand 35,208 38,250
174,764 149,100
Creditors: amounts falling due within one year (85,744) (106,675)
Net current assets (liabilities) 89,020 42,425
Total assets less current liabilities 109,568 73,494
Creditors: amounts falling due after more than one year (31,519) (12,984)
Total net assets (liabilities) 78,049 60,510
Capital and reserves
Called up share capital 5 60,000 60,000
Share premium account 35,000 35,000
Profit and loss account (16,951) (34,490)
Shareholders' funds 78,049 60,510
  • 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 11 January 2016

And signed on their behalf by:
Jennifer M Ryan, Director

FRESCO PICTUREWALL LIMITED Registered Number 02894207

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 represents net invoiced goods, excluding value added tax.

Tangible assets depreciation policy
Depreciation is provided at the following annual rates in order to write-off each asset over its estimated useful life:
Office and computer equipment 33.3% on cost
Fixtures and fittings 20.00% on cost
Plant and equipment 20% on cost
Tooling 33.3% on cost

Intangible assets amortisation policy
Goodwill and intangible assets are shown at cost and written-off when cease to be used.

Valuation information and policy
Stocks are valued at the lower of cost and net realisable value, after making due allowances for obsolete and slow moving items.

Other accounting policies
deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Expenditure on Research and development is written off in the year in which it is incurred.

2Intangible fixed assets
£
Cost
At 1 May 2014 25,000
Additions -
Disposals (25,000)
Revaluations -
Transfers -
At 30 April 2015 0
Amortisation
At 1 May 2014 -
Charge for the year -
On disposals -
At 30 April 2015 -
Net book values
At 30 April 2015 0
At 30 April 2014 25,000
3Tangible fixed assets
£
Cost
At 1 May 2014 92,592
Additions 18,670
Disposals -
Revaluations -
Transfers -
At 30 April 2015 111,262
Depreciation
At 1 May 2014 86,623
Charge for the year 4,191
On disposals -
At 30 April 2015 90,814
Net book values
At 30 April 2015 20,448
At 30 April 2014 5,969

4Fixed assets Investments
Investment in subsidiary.

5Called Up Share Capital
Allotted, called up and fully paid:
2015
£		 2014
£
60,000 Ordinary shares of £1 each 60,000 60,000