Pine & Cane Furnishings Limited - Period Ending 2015-09-30

Registration number: 01746743

Pine & Cane Furnishings Limited

trading as The Bed Post

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2015
 

Merranti Accounting Limited
11a Scandia-Hus Business Pk
Felcourt Road
Felcourt
East Grinstead
West Sussex
RH19 2LP

Pine & Cane Furnishings Limited
trading as The Bed Post
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 5

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 5) have been prepared.

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Pine & Cane Furnishings Limited
trading as The Bed Post
for the Year Ended 30 September 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Pine & Cane Furnishings Limited for the year ended 30 September 2015 set out on pages 2 to 5 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 Pine & Cane Furnishings Limited , as a body, in accordance with the terms of our engagement letter dated 7 April 2014 . Our work has been undertaken solely to prepare for your approval the accounts of Pine & Cane Furnishings 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 Pine & Cane Furnishings Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Pine & Cane Furnishings 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 Pine & Cane Furnishings Limited . You consider that Pine & Cane Furnishings 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 Pine & Cane Furnishings 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.

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

Merranti Accounting Limited
11a Scandia-Hus Business Pk
Felcourt Road
Felcourt
East Grinstead
West Sussex
RH19 2LP

25 January 2016

Page 1

Pine & Cane Furnishings Limited
trading as The Bed Post
(Registration number: 01746743)
Abbreviated Balance Sheet at 30 September 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					11,793			14,212
Current assets
Stocks					46,500			51,500
Debtors					31,322			33,007
Cash at bank and in hand					41,447			24,429
					119,269			108,936
Creditors: Amounts falling due within one year					(123,712)			(122,619)
Net current liabilities					(4,443)			(13,683)
Net assets					7,350			529
Capital and reserves
Called up share capital		3			2			2
Profit and loss account					7,348			527
Shareholders' funds					7,350			529

For the year ending 30 September 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 25 January 2016 and signed on its behalf by:

.........................................
Mr Lance Mead
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Pine & Cane Furnishings Limited
trading as The Bed Post
Notes to the Abbreviated Accounts for the Year Ended 30 September 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.

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
Leasehold Property	Over the period of the lease
Motor vehicles	25% reducing balance
Equipment, fixtures and fittings	15% reducing balance
Computer and other equipment	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.

Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Page 3

Pine & Cane Furnishings Limited
trading as The Bed Post
Notes to the Abbreviated Accounts for the Year Ended 30 September 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 October 2014		71,019			71,019
Additions		1,325			1,325
At 30 September 2015		72,344			72,344
Depreciation
At 1 October 2014		56,807			56,807
Charge for the year		3,744			3,744
At 30 September 2015		60,551			60,551
Net book value
At 30 September 2015		11,793			11,793
At 30 September 2014		14,212			14,212

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		2			2			2			2

Page 4

Pine & Cane Furnishings Limited
trading as The Bed Post
Notes to the Abbreviated Accounts for the Year Ended 30 September 2015
......... continued

4	Related party transactions

Directors' advances and credits

	2015 Advance/ (Credit)  £	2015 Repaid £	2014 Advance/ (Credit)  £	2014 Repaid £
Mr Lance Mead
B/fwd advances/(credits) at the beginning of the year	9,544	-	(6,456)	-
Advances and repayments made during the year	7,205	-	16,000	-
Dividend receipts	-	(17,000)	-	-
	16,749	(17,000)	9,544	-
Mrs Lorraine Elizabeth Mead
B/fwd advances at the begining of the year	9,000	-	-	-
Advances and repayments made during the year	7,000	-	12,500	(3,500)
Dividend receipts	-	(17,000)	-	-
	16,000	(17,000)	12,500	(3,500)

Page 5