RAVENS_OF_SOUTHEND_LIMITE - Accounts

RAVENS OF SOUTHEND LIMITED - Company Information

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Company Registration No. 00507728 (England and Wales)

RAVENS OF SOUTHEND LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2016

RAVENS OF SOUTHEND LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

RAVENS OF SOUTHEND LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 JANUARY 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

16,382

24,549

Current assets

Stocks

61,443

69,259

Debtors

9,232

18,638

Cash at bank and in hand

425,182

404,209

495,857

492,106

Creditors: amounts falling due within one year

(149,698)

(152,492)

Net current assets

346,159

339,614

Total assets less current liabilities

362,541

364,163

Provisions for liabilities

(4,785)

(3,242)

357,756

360,921

Capital and reserves

Called up share capital

10,000

Profit and loss account

347,756

350,921

Shareholders' funds

357,756

360,921

For the financial year ended 31 January 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 for issue on 26 August 2016

NR Raven

Mrs MJ Raven

Director

Company Registration No. 00507728

RAVENS OF SOUTHEND LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2016

- 2 -

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 January 2015).

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 chargeable, net of value added tax, in respect of the sale of goods and services to customers.

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:

Alterations to property

10 years straight line basis

Computer equipment

3 years straight line basis

Fixtures, fittings & equipment

20% reducing balance basis

Motor vehicles

25% reducing balance basis

1.5

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.

1.6

Pensions

The company operates a defined contributions scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

1.7

Deferred taxation

Deferred tax is recognised, without discounting, in respect of all timing difference between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE.

Deferred tax is measured at the rates that expected to apply in the period when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

RAVENS OF SOUTHEND LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2016

- 3 -

Fixed assets

Tangible assets

Cost

At 1 February 2015

513,731

Additions

333

Disposals

(11,940)

At 31 January 2016

502,124

Depreciation

At 1 February 2015

489,182

On disposals

(7,532)

Charge for the year

4,092

At 31 January 2016

485,742

Net book value

At 31 January 2016

16,382

At 31 January 2015

24,549

Share capital

2016

2015

Allotted, called up and fully paid

10,000 Ordinary shares of £1 each

10,000

Ultimate parent company

The company is controlled by the directors who own 100% of the called up share capital.