Forest Yurts Trading Company Ltd - Abbreviated accounts

FOREST YURTS TRADING COMPANY LTD - Company Information

08821982

England and Wales

Forest Yurts Trading Company Ltd

Abbreviated Accounts

31 December 2015

Forest Yurts Trading Company Ltd
Abbreviated unaudited accounts
as at 31 December 2015
Contents

Abbreviated unaudited balance sheet
Notes to the abbreviated unaudited accounts

Directors
Andre le Tissier
Graham Russell

Secretary
Incorporated Company Secretaries Limited

Registered office
Coronation House
Queen Street
Lymington

Administrative address
22 Fawcett Road
New Milton

Independent accountants
New Forest Tax Accountants
Coronation House
Queen Street
Lymington


Registered number
08821982

Incorporated
England and Wales: 19 December 2013

Statement of directors' responsibilities for the preparation of the accounts
Company law requires the directors to prepare accounts for each financial year which give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that year. In preparing those accounts, the directors are required to: • select suitable accounting policies and then apply them consistently • make judgements and estimates that are reasonable and prudent • follow applicable accounting standards, subject to any material departures disclosed and explained in the accounts •prepare the accounts on the going concern basis unless it is inappropriate to presume that the company will continue in business The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Forest Yurts Trading Company Ltd
Abbreviated Balance Sheet
as at 31 December 2015

Notes			2015			2014
£				£
Fixed assets
Tangible assets	2		261			326

Current assets
Stocks		28,392			8,295
Debtors		761			-
Cash at bank and in hand		-			4,572
		29,153			12,867

Creditors: amounts falling due within one year		(10,610)			(2,216)

Net current assets			18,543			10,651

Net assets			18,804			10,977

Capital and reserves
Called up share capital	3		200			200
Shareholders' loans			10,807			8,165
Profit and loss account			7,797			2,612

Shareholders' funds			18,804			10,977


The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
Andre le Tissier			Graham Russell
Director			Director
Approved by the board on 31 August 2016

Forest Yurts Trading Company Ltd
Notes to the Abbreviated Accounts
for the year ended 31 December 2015

1	Accounting policies

	Basis of preparation
	The accounts 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 the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

	Depreciation
	Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

	Equipment			25% reducing balance

	Provisions
	Provisions are made on the basis of the directors' expectation as to the likely outflow of future economic benefits.

	Equity funding
	Loans to the company which are repayable on notice of at least 1 year and are regarded by the directors as a source of general business finance are treated as equity funding in the accounts. Any interest payable thereon is charged to Profit & Loss Account on an accruing basis

	Taxation
	In the opinion of the directors the company is a close company as defined by U.K. tax legislation.

	Stocks
	Stock is valued at the lower of cost and net realisable value, after taking in to account all projected costs to realisation .

	Foreign currencies
	Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.


2	Tangible fixed assets					£

	Cost
	At 1 January 2015					362
	At 31 December 2015					362

	Depreciation
	At 1 January 2015					36
	Charge for the year					65
	At 31 December 2015					101

	Net book value
	At 31 December 2015					261
	At 31 December 2014					326


3	Share capital	Nominal		2015		2015		2014
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		200		200		200