Figswigs Limited - Limited company accounts 11.1

REGISTERED NUMBER: 08388218 (England and Wales)

Report of the Directors and

Unaudited Financial Statements

for the Period 4 February 2013 to 31 December 2013

for

Figswigs Limited

Page

Company Information

1

Report of the Directors

2

Profit and Loss Account

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTORS:

D G Yarrow

J Ioannou

SECRETARY:

REGISTERED OFFICE:

40 Newbury Lane

Silsoe

Bedford

Bedfordshire

MK45 4ET

REGISTERED NUMBER:

08388218 (England and Wales)

ACCOUNTANTS:

CDS Accountants

40 Newbury Lane

Silsoe

Bedfordshire

MK45 4ET

The directors present their report with the financial statements of the company for the period 4 February 2013 to

31 December 2013.

INCORPORATION

The company was incorporated on 4 February 2013 .

PRINCIPAL ACTIVITY

The principal activity of the company in the period under review was that of the online retail of digital media.

DIRECTORS

The directors who have held office during the period from 4 February 2013 to the date of this report are as follows:

D G Yarrow - appointed 4 February 2013

J Ioannou - appointed 4 February 2013

Both the directors who are eligible offer themselves for election at the forthcoming first Annual General Meeting.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating

to small companies.

ON BEHALF OF THE BOARD:

J Ioannou - Director

14 March 2014

TURNOVER

137,649

Cost of sales

119,929

GROSS PROFIT

17,720

Administrative expenses

10,073

OPERATING PROFIT

2

7,647

Interest receivable and similar income

39

PROFIT ON ORDINARY ACTIVITIES BEFORE TAXATION

7,686

Tax on profit on ordinary activities

3

1,537

PROFIT FOR THE FINANCIAL PERIOD

6,149

CURRENT ASSETS

Stocks

36,433

Cash at bank

73

36,506

CREDITORS

Amounts falling due within one year

5

20,757

NET CURRENT ASSETS

15,749

TOTAL ASSETS LESS CURRENT LIABILITIES

15,749

CREDITORS

Amounts falling due after more than one year

6

15,500

NET ASSETS

249

CAPITAL AND RESERVES

Called up share capital

7

100

Profit and loss account

8

149

SHAREHOLDERS' FUNDS

249

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2013.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2013 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 financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements were approved by the Board of Directors on 14 March 2014 and were signed on its behalf by:

D G Yarrow - 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 April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

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.	OPERATING PROFIT

The operating profit is stated after charging:

£

Directors' remuneration and other benefits etc

-

3.

TAXATION

Analysis of the tax charge

The tax charge on the profit on ordinary activities for the period was as follows:

£

Current tax:

UK corporation tax

1,537

Tax on profit on ordinary activities

1,537

4.

DIVIDENDS

£

ORDINARY shares of 1 each

Final

6,000

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Taxation and social security

1,537

Other creditors

19,220

20,757

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Other creditors

15,500

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

100

ORDINARY

1

100

8.

RESERVES

Profit

and loss

account

£

Profit for the period

6,149

Dividends

(6,000

)

At 31 December 2013

149