Company Registration No. 06995851 (England and Wales)
NEW OSCOTT STORES LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2015
NEW OSCOTT STORES LTD
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3
NEW OSCOTT STORES LTD
ABBREVIATED BALANCE SHEET
AS AT
31 AUGUST 2015
31 August 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Intangible assets
2
12,332
15,415
Tangible assets
2
1,325
2,964
13,657
18,379
Current assets
Stocks
48,520
45,250
Debtors
1,441
730
Cash at bank and in hand
6,451
14,532
56,412
60,512
Creditors: amounts falling due within one year
(66,405)
(65,946)
Net current liabilities
(9,993)
(5,434)
Total assets less current liabilities
3,664
12,945
Creditors: amounts falling due after more than one year
(1,304)
(5,542)
Provisions for liabilities
(689)
(869)
1,671
6,534
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
1,571
6,434
Shareholders' funds
1,671
6,534
NEW OSCOTT STORES LTD
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 AUGUST 2015
31 August 2015
- 2 -
For the financial year ended 31 August 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 17 May 2016
Mr Santokh Athwal
Director
Company Registration No. 06995851
NEW OSCOTT STORES LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2015
- 3 -
1
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
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 10 years.
1.5
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
15% Straight line
Motor vehicles
25% Straight line
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 September 2014 & at 31 August 2015
30,831
15,131
45,962
Depreciation
At 1 September 2014
15,416
12,166
27,582
Charge for the year
3,083
1,640
4,723
At 31 August 2015
18,499
13,806
32,305
Net book value
At 31 August 2015
12,332
1,325
13,657
At 31 August 2014
15,415
2,964
18,379
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100
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