FOREVER_MEMORIES_LIMITED - Accounts

FOREVER MEMORIES LIMITED - Company Information

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Company Registration No. 03410477 (England and Wales)

FOREVER MEMORIES LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2015

FOREVER MEMORIES LIMITED

CONTENTS

PAGE

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

FOREVER MEMORIES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 OCTOBER 2015

- 1 -

2015

2014

Notes

FIXED ASSETS

Tangible assets

14,194

19,334

CURRENT ASSETS

Stocks

21,876

24,851

Debtors

44,100

65,720

Cash at bank and in hand

65,990

90,571

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

(354,801)

(323,472)

NET CURRENT LIABILITIES

(288,811)

(232,901)

TOTAL ASSETS LESS CURRENT LIABILITIES

(274,617)

(213,567)

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

(950,000)

(1,224,617)

(1,163,567)

CAPITAL AND RESERVES

Called up share capital

2,000

Share premium account

13,491

Profit and loss account

(1,240,108)

(1,179,058)

SHAREHOLDERS' FUNDS

(1,224,617)

(1,163,567)

FOREVER MEMORIES LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 OCTOBER 2015

- 2 -

For the financial year ended 31 October 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 28 July 2016

P J Hampson Silk

DIRECTOR

COMPANY REGISTRATION NO. 03410477

FOREVER MEMORIES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2015

- 3 -

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).

GOING CONCERN

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption is based on the continued support of the company's director, who has indicated that he will not withdraw his loans of £1,202,441 until the company's other creditors have been paid in full. Therefore, in the opinion of the director it is appropriate to prepare the financial statements on a going concern basis.

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 and fittings

15% on cost

Motor vehicles

15% on cost

1.5

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.

FOREVER MEMORIES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2015

- 4 -

FIXED ASSETS

Tangible assets

COST

At 1 November 2014

56,233

Additions

497

Disposals

(5,000)

At 31 October 2015

51,730

DEPRECIATION

At 1 November 2014

36,899

On disposals

(2,875)

Charge for the year

3,512

At 31 October 2015

37,536

NET BOOK VALUE

At 31 October 2015

14,194

At 31 October 2014

19,334

SHARE CAPITAL

2015

2014

ALLOTTED, CALLED UP AND FULLY PAID

2,000 Ordinary of £1 each

2,000