NIGEL_RAYMENT_RETAIL_LIMI - Accounts

NIGEL RAYMENT RETAIL LIMITED - Company Information

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Company Registration No. 03973160 (England and Wales)

NIGEL RAYMENT RETAIL LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

Faulkner House

Victoria Street

Rayner Essex LLP

St Albans

Chartered Accountants

Herts

AL1 3SE

NIGEL RAYMENT RETAIL LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

NIGEL RAYMENT RETAIL LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

29,265

34,065

Current assets

Stocks

458,091

425,944

Debtors

46,113

41,867

Cash at bank and in hand

10,957

334

515,161

468,145

Creditors: amounts falling due within one year

(496,457)

(458,093)

Net current assets

18,704

10,052

Total assets less current liabilities

47,969

44,117

Capital and reserves

Called up share capital

Profit and loss account

47,968

44,116

Shareholders' funds

47,969

44,117

For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 and authorised for issue on 12 July 2016

Mr N Rayment

Director

Company Registration No. 03973160

NIGEL RAYMENT RETAIL LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention.

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 & equipment

10% straight line

1.5

Stock

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

1.6

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.

1.7

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

Fixed assets

Tangible assets

Cost

At 1 April 2015 & at 31 March 2016

52,415

Depreciation

At 1 April 2015

18,350

Charge for the year

4,800

At 31 March 2016

23,150

Net book value

At 31 March 2016

29,265

At 31 March 2015

34,065

NIGEL RAYMENT RETAIL LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 3 -

Debtors

Debtors include an amount of £27,741 (2015 - £28,561) which is due after more than one year.

Share capital

2016

2015

Allotted, called up and fully paid

1 Ordinary shares of £1 each

Ultimate parent company

The ultimate controlling party of the company is Nigel Rayment, a director of the company, as a result of his shareholding in Nigel Rayment Retail Limited.