THE_PICTURE_BOOK_STUDIO_L - Accounts

THE PICTURE BOOK STUDIO LIMITED - Company Information

Print Friendly Version

Company Registration No. 07010033 (England and Wales)

THE PICTURE BOOK STUDIO LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2015

Evolution Business and Tax Advisors LLP

Wynyard Park House

Wynyard Avenue

Wynyard

TS22 5TB

THE PICTURE BOOK STUDIO LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

THE PICTURE BOOK STUDIO LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 SEPTEMBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

14,360

14,168

Current assets

Debtors

1,091

214

Cash at bank and in hand

27,372

21,123

28,463

21,337

Creditors: amounts falling due within one year

(31,963)

(29,534)

Net current liabilities

(3,500)

(8,197)

Total assets less current liabilities

10,860

5,971

Provisions for liabilities

(2,334)

8,526

5,971

Capital and reserves

Called up share capital

Profit and loss account

8,525

5,970

Shareholders' funds

8,526

5,971

For the financial year ended 30 September 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 13 March 2016

Mr J P Regan

Director

Company Registration No. 07010033

THE PICTURE BOOK STUDIO LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 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 and services net of VAT and trade discounts.

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 and equipment

33% straight line

1.5

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 October 2014

24,195

Additions

7,919

At 30 September 2015

32,114

Depreciation

At 1 October 2014

10,027

Charge for the year

7,727

At 30 September 2015

17,754

Net book value

At 30 September 2015

14,360

At 30 September 2014

14,168

THE PICTURE BOOK STUDIO LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2015

- 3 -

Share capital

2015

2014

Allotted, called up and fully paid

1 ordinary share of £1 each