Sketchtwenty3 Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 08104840 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 May 2015

for

Sketchtwenty3 Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

T R Wilman

REGISTERED OFFICE:

Unit E8, 4th Floor

Pear Industrial Estate

Stockport Road West

Bredbury, Stockport

Cheshire

SK6 2BP

REGISTERED NUMBER:

08104840 (England and Wales)

ACCOUNTANTS:

Pareto Tax & Wealth LLP

8 St John Street

Manchester

M3 4DU

FIXED ASSETS

Tangible assets

2

10,347

9,302

CURRENT ASSETS

Stocks

274,622

98,554

Debtors

123,560

8,904

Cash at bank

126,395

12,016

524,577

119,474

CREDITORS

Amounts falling due within one year

389,617

54,307

NET CURRENT ASSETS

134,960

65,167

TOTAL ASSETS LESS CURRENT LIABILITIES

145,307

74,469

CREDITORS

Amounts falling due after more than one year

100,000

70,000

NET ASSETS

45,307

4,469

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

45,207

4,369

SHAREHOLDERS' FUNDS

45,307

4,469

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 26 February 2016 and were signed by:

T R Wilman - Director

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).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Furniture & Fixtures

-

25% on cost

Office equipment

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2014

12,403

Additions

5,528

At 31 May 2015

17,931

DEPRECIATION

At 1 June 2014

3,101

Charge for year

4,483

At 31 May 2015

7,584

NET BOOK VALUE

At 31 May 2015

10,347

At 31 May 2014

9,302

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.15

31.5.14

value:

£

£

100

Ordinary

£1

100

100

4.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At 31 May 2015, the company owed T Wilman, director, £327,793 ( 2014: £123,206) of which £227,793 is

interest free and repayable on demand and £100,000 is interest free and repayable after one year.