Abbreviated Company Accounts - RED SNAPPER LIMITED

Abbreviated Company Accounts - RED SNAPPER LIMITED


Registered Number 03078547

RED SNAPPER LIMITED

Abbreviated Accounts

31 July 2015

RED SNAPPER LIMITED Registered Number 03078547

Abbreviated Balance Sheet as at 31 July 2015

Notes 2015 2014
£ £
Fixed assets
Intangible assets 2 1 1
Tangible assets 3 5,333 5,815
5,334 5,816
Current assets
Debtors 519,149 364,556
Cash at bank and in hand 52,977 34,717
572,126 399,273
Creditors: amounts falling due within one year (113,167) (45,388)
Net current assets (liabilities) 458,959 353,885
Total assets less current liabilities 464,293 359,701
Provisions for liabilities (1,067) -
Total net assets (liabilities) 463,226 359,701
Capital and reserves
Called up share capital 4 100 100
Profit and loss account 463,126 359,601
Shareholders' funds 463,226 359,701
  • For the year ending 31 July 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 31 May 2016

And signed on their behalf by:
D. Laycock, Director

RED SNAPPER LIMITED Registered Number 03078547

Notes to the Abbreviated Accounts for the period ended 31 July 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Fixtures and fittings - 10 years
Office equipment - 2 years

Valuation information and policy
Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.

Other accounting policies
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange prevailing at the accounting date. Transactions in foreign currencies are recorded at the date of the transactions. All differences are taken to the Profit and Loss account.

Research and development
Research expenditure is written off to the profit and loss account in the year in which it is incurred.

2Intangible fixed assets
£
Cost
At 1 August 2014 12,000
Additions -
Disposals -
Revaluations -
Transfers -
At 31 July 2015 12,000
Amortisation
At 1 August 2014 11,999
Charge for the year -
On disposals -
At 31 July 2015 11,999
Net book values
At 31 July 2015 1
At 31 July 2014 1
3Tangible fixed assets
£
Cost
At 1 August 2014 266,850
Additions 3,172
Disposals -
Revaluations -
Transfers -
At 31 July 2015 270,022
Depreciation
At 1 August 2014 261,035
Charge for the year 3,654
On disposals -
At 31 July 2015 264,689
Net book values
At 31 July 2015 5,333
At 31 July 2014 5,815
4Called Up Share Capital
Allotted, called up and fully paid:
2015
£
2014
£
100 Ordinary shares of £1 each 100 100