South Coast Ventures Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 06041117 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

FOR

SOUTH COAST VENTURES LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr W Maher

Mrs L D Maher

SECRETARY:

Mrs L D Maher

REGISTERED OFFICE:

1 Bourne Close

Porton

Salisbury

Wiltshire

SP4 0LL

REGISTERED NUMBER:

06041117 (England and Wales)

ACCOUNTANTS:

Numeric Accounting Limited

Chartered Certified Accountants

18 New Canal

Salisbury

Wiltshire

SP1 2AQ

FIXED ASSETS

Tangible assets

2

2,774

1,476

CURRENT ASSETS

Stocks

2,200

1,125

Debtors

18,567

18,194

Cash at bank

3,573

10,613

24,340

29,932

CREDITORS

Amounts falling due within one year

29,032

34,862

NET CURRENT LIABILITIES

(4,692

)

(4,930

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,918

)

(3,454

)

CREDITORS

Amounts falling due after more than one
year

27,000

NET LIABILITIES

(28,918

)

(30,454

)

CAPITAL AND RESERVES

Called up share capital

3

100

Profit and loss account

(29,018

)

(30,554

)

SHAREHOLDERS' FUNDS

(28,918

)

(30,454

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 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 23 September 2016 and were signed on its behalf
by:

Mrs L D Maher - Director

Mr W Maher - 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).

The accounts have been prepared on a going concern basis on the understanding that the directors Mr W Maher

and Mrs L Maher and the parents of Mrs L Maher, Mr A J Allen and Mrs M E Allen will not withdraw their

loans to the company in such a way as would prejudice it's financial future.

Turnover

The turnover shown in the profit and loss account represents the value of goods and services supplied during the

year, exclusive of 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.

Motor vehicles

-

25% on reducing balance

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

13,610

Additions

2,000

At 31 December 2015

15,610

DEPRECIATION

At 1 January 2015

12,134

Charge for year

702

At 31 December 2015

12,836

NET BOOK VALUE

At 31 December 2015

2,774

At 31 December 2014

1,476

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.15

31.12.14

value:

£

100

Ordinary

£1

100