United Slates Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 07988798 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 March 2016

for

United Slates Ltd

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

2

Chartered Accountants' Report

3

FIXED ASSETS

Tangible assets

2

7,858

9,528

CURRENT ASSETS

Stocks

51,391

66,071

Debtors

3,438

8,360

Cash at bank and in hand

7,732

8,485

62,561

82,916

CREDITORS

Amounts falling due within one year

181,384

150,820

NET CURRENT LIABILITIES

(118,823

)

(67,904

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(110,965

)

(58,376

)

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

(111,065

)

(58,476

)

SHAREHOLDERS' FUNDS

(110,965

)

(58,376

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 2 September 2016 and were signed on its behalf by:

M Nicholson - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements 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 net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

19,055

DEPRECIATION

At 1 April 2015

9,527

Charge for year

1,670

At 31 March 2016

11,197

NET BOOK VALUE

At 31 March 2016

7,858

At 31 March 2015

9,528

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

100

Ordinary

£1

100

100

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within creditors is an amount due to the directors of £178,231 (2015: £145,010). The balance was not

overdrawn at anytime during the current year.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages one to two)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of United Slates Ltd for the year ended 31 March 2016 which comprise the Profit and Loss

Account, the Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of United Slates Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of United Slates Ltd and state those matters that we have agreed to state to the Board of Directors of United Slates Ltd, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that United Slates Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of United Slates Ltd. You consider that United Slates Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of United Slates Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

R F Miller & Co

Chartered Accountants

Bellevue

Princes Street

Ulverston

Cumbria

LA12 7NB

2 September 2016