Select Contract Furniture Limited - Limited company - abbreviated - 11.0.0
Select Contract Furniture Limited - Limited company - abbreviated - 11.0.0
| REGISTERED NUMBER: |
| ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2013 |
| FOR |
| SELECT CONTRACT FURNITURE LIMITED |
| SELECT CONTRACT FURNITURE LIMITED (REGISTERED NUMBER: SC335381) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 DECEMBER 2013 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 3 |
| SELECT CONTRACT FURNITURE LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2013 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| SELECT CONTRACT FURNITURE LIMITED (REGISTERED NUMBER: SC335381) |
| ABBREVIATED BALANCE SHEET |
| 31 DECEMBER 2013 |
| 2013 | 2012 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 3 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
) |
| CREDITORS |
| Amounts falling due after more than one year | 3 |
| NET ASSETS/(LIABILITIES) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 4 |
| Profit and loss account | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the Company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the Company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the Company. |
| The financial statements were approved by the Board of Directors on |
| SELECT CONTRACT FURNITURE LIMITED (REGISTERED NUMBER: SC335381) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 DECEMBER 2013 |
| 1. | ACCOUNTING POLICIES |
| Accounting convention |
| The financial statements have been prepared under the historical cost convention and in accordance with the Financial |
| Reporting Standard for Smaller Entities (effective April 2008). |
| Cash flow statement |
| The company has adopted the Financial Reporting Standard for Smaller Entities (effective April 2008) and is consequently |
| exempt from the requirement to include a cash flow statement in the financial statements. |
| Turnover |
| The turnover shown in the profit and loss account represents the value of all goods sold during the year, less returns |
| received, at selling price exclusive of Value Added Tax. Sales are recognised at the point at which the company has fulfilled |
| its contractual obligations to the customer. |
| Tangible fixed assets |
| Leasehold Improvements | - |
| Equipment | - |
| Tangible fixed assets are stated at cost less depreciation. Cost represents purchase price together with any incidental costs |
| of acquisition. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving |
| items. Cost represents purchase price. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet |
| date where transactions or events have occurred at that date that will result in an obligation to pay more tax, or a right to |
| pay less tax, or a right to receive repayments of tax. |
| Deferred tax assets are recognised only to the extent that the directors consider it more likely than not that there will be |
| suitable taxable profits form which the future reversal of the underlying timing differences can be deducted. Deferred tax |
| assets and liabilities recognised have not been discounted. |
| Deferred tax is measured on a non-discounted basis at the average tax rates that are expected to apply in the periods in |
| which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date. |
| Financial instruments |
| Financial instruments are classified and accounted for as financial assets, financial liabilities or equity instruments, |
| according to the substance of the contractual arrangement. |
| Financial instruments which are assets are stated at cost less any provision for impairment. Financial liabilities are stated at |
| principal capital amounts outstanding at the period end. Issue costs relating to financial liabilities are deducted from the |
| outstanding balance and are amortised over the period to the due date for repayment of the financial liability. |
| An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its |
| liabilities. A financial liability is any contractual arrangement for an entity to deliver cash to the holder of the associated |
| financial instrument. |
| If a financial instrument contains both an equity and a liability element, then the liability element is first established with |
| any residual value being disclosed within equity shareholders' funds. The liability element is the present value of any future |
| payments guaranteed to be made to the holders of the financial instrument. |
| SELECT CONTRACT FURNITURE LIMITED (REGISTERED NUMBER: SC335381) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2013 |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 January 2013 |
| and 31 December 2013 |
| DEPRECIATION |
| At 1 January 2013 |
| Charge for year |
| At 31 December 2013 |
| NET BOOK VALUE |
| At 31 December 2013 |
| At 31 December 2012 |
| 3. | CREDITORS |
| Creditors include an amount of £ |
| 4. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2013 | 2012 |
| value: | £ | £ |
| Ordinary Shares | £1 |
| 5. | TRANSACTIONS WITH DIRECTORS |
| The amounts due from the directors and maximum overdrawn balances directors subsisted during the years ended |
| 31 December 2013 and 31 December 2012: |
| 2013 | 2012 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Balance outstanding at end of year |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Balance outstanding at end of year |