Nova Leathers (Bristol) Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 01304850 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30TH APRIL 2016

FOR

NOVA LEATHERS (BRISTOL) LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

M H Perren

R P Franks

SECRETARY:

Mrs S Perren

REGISTERED OFFICE:

Unit 1, Commercial Buildings

Beanwood Farm

Shorthill Road

Westerleigh

BRISTOL

BS37 8QN

REGISTERED NUMBER:

01304850 (England and Wales)

ACCOUNTANTS:

Goldwyns (Bristol) Limited

9 Portland Square

BRISTOL

BS2 8ST

FIXED ASSETS

Tangible assets

2

14,968

17,868

CURRENT ASSETS

Stocks

374,953

373,536

Debtors

452,240

469,466

Cash at bank and in hand

432,292

320,377

1,259,485

1,163,379

CREDITORS

Amounts falling due within one year

550,922

662,272

NET CURRENT ASSETS

708,563

501,107

TOTAL ASSETS LESS CURRENT
LIABILITIES

723,531

518,975

CAPITAL AND RESERVES

Called up share capital

3

5,000

Share premium

2,250

Profit and loss account

716,281

511,725

SHAREHOLDERS' FUNDS

723,531

518,975

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 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 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 2nd August 2016 and were signed on its behalf by:

M H Perren - Director

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. Turnover is recognised when the

goods are delivered to the customer.

Tangible fixed assets

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

Land and buildings

-

10% on reducing balance

Plant and machinery

-

25% on reducing balance and 10% on reducing balance

Computer equipment

-

Straight line over 3 years

Stocks

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

moving items.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st May 2015

104,205

Additions

1,168

At 30th April 2016

105,373

DEPRECIATION

At 1st May 2015

86,337

Charge for year

4,068

At 30th April 2016

90,405

NET BOOK VALUE

At 30th April 2016

14,968

At 30th April 2015

17,868

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

4,000

Ordinary 'A'

£1

4,000

1,000

Ordinary 'B'

£1

1,000

5,000

4.	ULTIMATE CONTROLLING PARTY

The company is controlled by Nova Holdings (Bristol) Limited, which in turn is controlled by M Perren, a

director.