Supreme Carpets & Blinds Limited - Abbreviated accounts

SUPREME CARPETS & BLINDS LIMITED - Company Information

Registered number

04857747

Supreme Carpets & Blinds Limited

Abbreviated Accounts

31 August 2015

Supreme Carpets & Blinds Limited
Registered number:		04857747
Abbreviated Balance Sheet
as at 31 August 2015

Notes			2015			2014
£				£
Fixed assets
Tangible assets	2		19,575			8,670

Current assets
Stocks		1,500			2,000
Debtors		5,957			5,514
Cash at bank and in hand		23,184			29,000
		30,641			36,514

Creditors: amounts falling due within one year		(26,408)			(40,092)

Net current assets/(liabilities)			4,233			(3,578)

Total assets less current liabilities			23,808			5,092

Creditors: amounts falling due after more than one year			(19,458)			(3,160)

Provisions for liabilities			(3,915)			(1,734)


Net assets			435			198

Capital and reserves
Called up share capital	3		100			100
Profit and loss account			335			98

Shareholder's funds			435			198

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.



G Smith
Director
Approved by the board on 12 May 2016

Supreme Carpets & Blinds Limited
Notes to the Abbreviated Accounts
for the year ended 31 August 2015

1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

	Turnover
	Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

	Depreciation
	Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

	Plant and machinery			20% reducing balance basis
	Motor vehicles			25% reducing balance basis

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

	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.

	Leasing and hire purchase commitments
	Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Rentals paid under operating leases are charged to income on a straight line basis over the lease term.


2	Tangible fixed assets					£

	Cost
	At 1 September 2014					26,505
	Additions					23,882
	Disposals					(11,637)
	At 31 August 2015					38,750

	Depreciation
	At 1 September 2014					17,835
	Charge for the year					6,432
	On disposals					(5,092)
	At 31 August 2015					19,175

	Net book value
	At 31 August 2015					19,575
	At 31 August 2014					8,670


3	Share capital	Nominal		2015		2015		2014
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		100		100		100