ROMANIAN_SHOP_LIMITED - Accounts

ROMANIAN SHOP LIMITED - Company Information

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Company Registration No. 7406799 (England and Wales)

ROMANIAN SHOP LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2015

ROMANIAN SHOP LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

ROMANIAN SHOP LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 OCTOBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

12,556

4,699

Current assets

Stocks

32,725

12,978

Debtors

3,187

5,134

Cash at bank and in hand

6,204

6,260

42,116

24,372

Creditors: amounts falling due within one year

(28,945)

(14,594)

Net current assets

13,171

9,778

Total assets less current liabilities

25,727

14,477

Provisions for liabilities

(2,511)

(940)

23,216

13,537

Capital and reserves

Called up share capital

100

Profit and loss account

23,116

13,437

Shareholders' funds

23,216

13,537

For the financial year ended 31 October 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 3 March 2016

Miss C E Ciobanu

Director

Company Registration No. 7406799

ROMANIAN SHOP LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods supplied.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

20% - reducing balance

Motor vehicles

25% - Reducing balance

1.5

Stock

Stock is valued at the lower of cost and net realisable value.

1.6

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

Fixed assets

Tangible assets

Cost

At 1 November 2014

7,375

Additions

11,432

At 31 October 2015

18,807

Depreciation

At 1 November 2014

2,675

Charge for the year

3,576

At 31 October 2015

6,251

Net book value

At 31 October 2015

12,556

At 31 October 2014

4,699

ROMANIAN SHOP LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2015

- 3 -

Share capital

2015

2014

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100

Related party relationships and transactions

Loan from director

Transactions in relation to loans with director during the year are outlined in the table below:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

C E Ciobanu - director's loan to company

3,180

3,101

3,180

3,101