Walkers Curtains Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 06740359

WALKERS CURTAINS LTD

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31ST DECEMBER 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

K Walker

REGISTERED OFFICE:

259 Browns Lane

Allesley

Coventry

West Midlands

CV5 9EE

REGISTERED NUMBER:

06740359

ACCOUNTANTS:

Weavers

Chartered Accountants

18 Queens Road

Coventry

West Midlands

CV1 3EG

FIXED ASSETS

Tangible assets

2

1,786

2,174

CURRENT ASSETS

Stocks

49,849

32,790

Debtors

3,396

5,285

Cash in hand

14,896

15,392

68,141

53,467

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

138,828

117,560

NET CURRENT LIABILITIES

(70,687

)

(64,093

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(68,901

)

(61,919

)

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

(69,001

)

(62,019

)

SHAREHOLDERS' FUNDS

(68,901

)

(61,919

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 27th July 2016 and were signed by:

K Walker - 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.

Revenue is recognised on completion of each job. Where a job has commenced but is not complete at the year

end a proportion of that job will be included in turnover as work in progress.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stock is valued at the lower of cost or net realisable value. An allowance is made for any obsolete or slow

moving stock.

Work in progress is valued at the estimated proportion of work complete at the balance sheet date by reference to

the final sale value of the job.

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 1st January 2015

6,051

Additions

388

At 31st December 2015

6,439

DEPRECIATION

At 1st January 2015

3,877

Charge for year

776

At 31st December 2015

4,653

NET BOOK VALUE

At 31st December 2015

1,786

At 31st December 2014

2,174

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

100

Ordinary

£1

100

100

4.	GOING CONCERN