Abbreviated Company Accounts - SHIP IT APPLIANCES LIMITED

SHIP IT APPLIANCES LIMITED - Company Information

07705721 SHIP IT APPLIANCES LIMITED 2015-12-31 false 2015-01-01 2015-12-31 true 07705721 2015-01-01 2015-12-31 07705721 2015-12-31 07705721 2014-12-31 07705721 uk-gaap-cd-bus:Director1 2015-01-01 2015-12-31 07705721 uk-gaap-cd-bus:Director2 2015-01-01 2015-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-01-01 2015-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-12-31 uk-gaap-cd-bus:OrdinaryShareClass2 2015-01-01 2015-12-31 uk-gaap-cd-bus:OrdinaryShareClass2 2015-12-31 uk-gaap-cd-bus:OrdinaryShareClass2 2014-12-31 uk-gaap-cd-bus:OrdinaryShareClass3 2015-01-01 2015-12-31 uk-gaap-cd-bus:OrdinaryShareClass3 2015-12-31 uk-gaap-cd-bus:OrdinaryShareClass3 2014-12-31 uk-gaap-cd-bus:OrdinaryShareClass4 2015-01-01 2015-12-31 uk-gaap-cd-bus:OrdinaryShareClass4 2015-12-31 uk-gaap-cd-bus:OrdinaryShareClass4 2014-12-31 iso4217:GBP shares

Registered Number 07705721

SHIP IT APPLIANCES LIMITED

Abbreviated Accounts

31 December 2015

SHIP IT APPLIANCES LIMITED Registered Number 07705721

Abbreviated Balance Sheet as at 31 December 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	30,070	15,813
		30,070	15,813
Current assets
Stocks		454,388	61,000
Debtors		149,509	87,102
Cash at bank and in hand		191,163	61,627
		795,060	209,729
Creditors: amounts falling due within one year		(724,995)	(225,012)
Net current assets (liabilities)		70,065	(15,283)
Total assets less current liabilities		100,135	530
Total net assets (liabilities)		100,135	530
Capital and reserves
Called up share capital	3	137	100
Share premium account		99,963	-
Profit and loss account		35	430
Shareholders' funds		100,135	530

For the year ending 31 December 2015 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 9 March 2016

And signed on their behalf by:
R Dhiri, Director

SHIP IT APPLIANCES LIMITED Registered Number 07705721

Notes to the Abbreviated Accounts for the period ended 31 December 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

Tangible assets depreciation policy
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Plant & Machinery - 15% reducing balance method

Other accounting policies
Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2Tangible fixed assets

	£
Cost
At 1 January 2015	23,008
Additions	21,261
Disposals	(2,000)
Revaluations	-
Transfers	-
At 31 December 2015	42,269
Depreciation
At 1 January 2015	7,195
Charge for the year	5,304
On disposals	(300)
At 31 December 2015	12,199
Net book values
At 31 December 2015	30,070
At 31 December 2014	15,813

3Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
0 Ordinary shares of £1 each (96 shares for 2014)	0	96
96 A Ordinary shares of £1 each (4 shares for 2014)	96	4
4 B Ordinary shares of £1 each (0 shares for 2014)	4	0
37 C Ordinary shares of £1 each (0 shares for 2014)	37	0