Innovation Blinds Limited - Abbreviated accounts 16.1

Innovation Blinds Limited - Abbreviated accounts 16.1

INNOVATION BLINDS LIMITED - Company Information

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REGISTERED NUMBER: 07528835 (England and Wales)












Abbreviated Unaudited Accounts for the Year Ended 31 March 2016

for

Innovation Blinds Limited

Innovation Blinds Limited (Registered number: 07528835)






Contents of the Abbreviated Accounts
for the Year Ended 31 March 2016




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

Innovation Blinds Limited

Company Information
for the Year Ended 31 March 2016







DIRECTORS: Mrs A C Allen
J B Allen
Mrs K L King





REGISTERED OFFICE: Lynnem House
1 Victoria Way
Burgess Hill
West Sussex
RH15 9NF





REGISTERED NUMBER: 07528835 (England and Wales)





ACCOUNTANTS: Price Green & Co
Lynnem House
1 Victoria Way
Burgess Hill
West Sussex
RH15 9NF
Page 1
Innovation Blinds Limited (Registered number: 07528835)

Abbreviated Balance Sheet
31 March 2016

31.3.16 31.3.15
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 2 - 4,308
Tangible assets 3 12,464 15,618
12,464 19,926

CURRENT ASSETS
Stocks 2,863 4,169
Debtors 39,260 20,448
Cash at bank 33,878 12,595
76,001 37,212
CREDITORS
Amounts falling due within one year 40,678 14,469
NET CURRENT ASSETS 35,323 22,743
TOTAL ASSETS LESS CURRENT
LIABILITIES
47,787
42,669

PROVISIONS FOR LIABILITIES 2,493 3,124
NET ASSETS 45,294 39,545

CAPITAL AND RESERVES
Called up share capital 4 100 100
Profit and loss account 45,194 39,445
SHAREHOLDERS' FUNDS 45,294 39,545

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.

The notes form part of these abbreviated accounts

Page 2 continued...
Innovation Blinds Limited (Registered number: 07528835)

Abbreviated Balance Sheet - continued
31 March 2016


The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were approved by the Board of Directors on 8 June 2016 and were signed on its behalf by:




Mrs A C Allen - Director



J B Allen - Director


The notes form part of these abbreviated accounts

Page 3
Innovation Blinds Limited (Registered number: 07528835)

Notes to the Abbreviated Accounts
for the Year Ended 31 March 2016

1. ACCOUNTING POLICIES

Accounting convention
The financial statements 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 net invoiced sales of goods, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc - 33% on reducing balance and 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
moving items.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the
period of the lease.

2. INTANGIBLE FIXED ASSETS
Total
£   
COST
At 1 April 2015
and 31 March 2016 21,539
AMORTISATION
At 1 April 2015 17,231
Amortisation for year 4,308
At 31 March 2016 21,539
NET BOOK VALUE

At 31 March 2016 -
At 31 March 2015 4,308

Page 4 continued...
Innovation Blinds Limited (Registered number: 07528835)

Notes to the Abbreviated Accounts - continued
for the Year Ended 31 March 2016

3. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 April 2015 27,003
Additions 1,539
At 31 March 2016 28,542
DEPRECIATION
At 1 April 2015 11,385
Charge for year 4,693
At 31 March 2016 16,078
NET BOOK VALUE
At 31 March 2016 12,464
At 31 March 2015 15,618

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.16 31.3.15
value: £    £   
100 Ordinary £1 100 100

Page 5