Devon and Somerset Marquees Limited - Period Ending 2016-01-31

Registration number: 04583282

Devon and Somerset Marquees Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 January 2016
 

Stapletons
Chartered Certified Accountants
4 Market Street
Crediton
Devon
EX17 2AJ

Devon and Somerset Marquees Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Devon and Somerset Marquees Limited
(Registration number: 04583282)
Abbreviated Balance Sheet at 31 January 2016

		Note			2016 £			2015 £
Fixed assets
Intangible fixed assets					8,000			12,000
Tangible fixed assets					44,314			37,683
					52,314			49,683
Current assets
Stocks					598			(598)
Debtors					-			1,309
Investments					100			100
Cash at bank and in hand					8,051			13,055
					8,749			13,866
Creditors: Amounts falling due within one year					(43,289)			(40,749)
Net current liabilities					(34,540)			(26,883)
Net assets					17,774			22,800
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					17,674			22,700
Shareholders' funds					17,774			22,800

For the year ending 31 January 2016 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 11 August 2016 and signed on its behalf by:

Mr C Lines
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Devon and Somerset Marquees Limited
Notes to the Abbreviated Accounts for the Year Ended 31 January 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and is not amortised over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	20% on a straight line basis

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Motor vehicles	25% on the reducing balance
Plant and machinery	15% on the reducing balance

Current asset investments

Current asset investments are included at the lower of cost and net realisable value.

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

Devon and Somerset Marquees Limited
Notes to the Abbreviated Accounts for the Year Ended 31 January 2016
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 February 2015		20,000			139,680			159,680
Additions		-			13,348			13,348
At 31 January 2016		20,000			153,028			173,028
Depreciation
At 1 February 2015		8,000			101,997			109,997
Charge for the year		4,000			6,717			10,717
At 31 January 2016		12,000			108,714			120,714
Net book value
At 31 January 2016		8,000			44,314			52,314
At 31 January 2015		12,000			37,683			49,683

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

Page 3