Abbreviated Company Accounts - CENTRAL FLORISTS LTD
Abbreviated Company Accounts - CENTRAL FLORISTS LTD
Registered Number NI055975
CENTRAL FLORISTS LTD
Abbreviated Accounts
30 November 2013
CENTRAL FLORISTS LTD Registered Number NI055975
Abbreviated Balance Sheet as at 30 November 2013
Notes | 2013 | 2012 | |
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£ | £ | ||
Fixed assets | |||
Intangible assets | 2 |
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Tangible assets | 3 |
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Current assets | |||
Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year | 4 |
( |
( |
Net current assets (liabilities) |
( |
( |
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Total assets less current liabilities |
( |
( |
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Creditors: amounts falling due after more than one year | 4 |
( |
( |
Provisions for liabilities |
( |
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Total net assets (liabilities) |
( |
( |
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Capital and reserves | |||
Called up share capital | 5 |
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Profit and loss account |
( |
( |
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Shareholders' funds |
( |
( |
For the year ending 30 November 2013 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
And signed on their behalf by:
CENTRAL FLORISTS LTD Registered Number NI055975
Notes to the Abbreviated Accounts for the period ended 30 November 2013
1Accounting Policies
Basis of measurement and preparation of accounts
The financial statements have been prepared under the historical cost convention and in accordance with the Companies Act 2006 and the Financial Reporting Standard for Smaller Entities (effective April 2008). The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
Turnover policy
Tangible assets depreciation policy
Long leasehold property - 12.5% Straight line
Fixtures, fittings and equipment - 12.5% straight line
Motor vehicles - 12.5% Reducing Balance
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
Other accounting policies
Tangible fixed assets held under leasing arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the balance sheet at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the profit and loss account.
Goodwill
Purchased goodwill arising on the acquisition of a business represents the excess of the acquisition cost over the fair value of the identifiable net assets when they were acquired. Purchased goodwill is capitalised in the balance sheet and amortised on a straight line basis over its economic useful life of 10 years, which is estimated to be the period during which benefits are expected to arise. On disposal of a business any goodwill not yet amortised is included in determining the profit or loss on sale of the business.
Stocks
Stocks are valued at the lower of cost and net realisable value. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
Taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the balance sheet date.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements.
Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
GOING CONCERN
The company has accumulated losses at 30 November 2013 of £65,294. The director has offered assurances that she will continue to financially support the company until such time as it returns to profitability. As such, the accounts are prepared on a going concern basis.
£ | |
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Cost | |
At 1 December 2012 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 30 November 2013 |
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Amortisation | |
At 1 December 2012 |
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Charge for the year |
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On disposals |
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At 30 November 2013 |
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Net book values | |
At 30 November 2013 | 6,622 |
At 30 November 2012 | 9,932 |
£ | |
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Cost | |
At 1 December 2012 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 30 November 2013 |
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Depreciation | |
At 1 December 2012 |
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Charge for the year |
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On disposals |
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At 30 November 2013 |
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Net book values | |
At 30 November 2013 | 13,173 |
At 30 November 2012 | 16,837 |
2013 2012
Net Book Depreciation Net Book Depreciation
Value Charge Value Charge
£ £ £ £
Motor Vehicles 9,416 1,345 10,671 1,537
2013
£ |
2012
£ |
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Secured Debts |
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