So Few Do Limited - Period Ending 2015-12-31

Registration number: 06023295

So Few Do Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2015
 

So Few Do Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

So Few Do Limited
(Registration number: 06023295)
Abbreviated Balance Sheet at 31 December 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					1,303			5,055
Current assets
Debtors					240			315
Cash at bank and in hand					795			5,725
					1,035			6,040
Creditors: Amounts falling due within one year					(4,869)			(9,544)
Net current liabilities					(3,834)			(3,504)
Net (liabilities)/assets					(2,531)			1,551
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					(2,631)			1,451
Shareholders' (deficit)/funds					(2,531)			1,551

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 director acknowledges his 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 director on 12 September 2016

.........................................
J T Cook
Director

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

So Few Do Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... 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).

Going concern

The financial statements have been prepared on a going concern basis which assumes that the company will continue to trade. The validity of this assumption is dependent upon sufficient and continuing financial support being made available by the company's director. If the company were unable to continue to trade, adjustments would have to be made to reduce the value of assets to their realisable amount, and to provide for any further liabilities that may arise

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of services to customers.

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	15% reducing balance basis
Office equipment	25% reducing balance basis

Foreign currency

Profit and loss account transactions in foreign currencies are translated into sterling at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the closing rates at the balance sheet date and the exchange differences are included in the profit and loss account.

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

So Few Do Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2015		18,892			18,892
Disposals		(12,180)			(12,180)
At 31 December 2015		6,712			6,712
Depreciation
At 1 January 2015		13,837			13,837
Charge for the year		434			434
Eliminated on disposals		(8,862)			(8,862)
At 31 December 2015		5,409			5,409
Net book value
At 31 December 2015		1,303			1,303
At 31 December 2014		5,055			5,055

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

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