Pinnacle Crafts Limited - Abbreviated accounts 16.1
Pinnacle Crafts Limited - Abbreviated accounts 16.1
| REGISTERED NUMBER: |
| Abbreviated Accounts for the Year Ended 31st December 2015 |
| for |
| Pinnacle Crafts Limited |
| Pinnacle Crafts Limited (Registered number: 07109658) |
| Contents of the Abbreviated Accounts |
| for the Year Ended 31st December 2015 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 4 |
| Pinnacle Crafts Limited |
| Company Information |
| for the Year Ended 31st December 2015 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Pinnacle Crafts Limited (Registered number: 07109658) |
| Abbreviated Balance Sheet |
| 31st December 2015 |
| 2015 | 2014 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 2 |
| Tangible assets | 3 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| PROVISIONS FOR LIABILITIES |
| NET (LIABILITIES)/ASSETS | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 4 |
| Profit and loss account | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) |
| 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. |
| Pinnacle Crafts Limited (Registered number: 07109658) |
| Abbreviated Balance Sheet - continued |
| 31st December 2015 |
| The financial statements were approved by the Board of Directors on |
| Pinnacle Crafts Limited (Registered number: 07109658) |
| Notes to the Abbreviated Accounts |
| for the Year Ended 31st December 2015 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The company had a net deficiency of assets at the balance sheet date of £2,167. The directors have confirmed that they |
| will continue to support the company into the foreseeable future and therefore the financial statements have been |
| prepared on a going concern basis, which in the opinion of the directors is appropriate. |
| 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. |
| Goodwill |
| Computer software |
| The computer software consists of the amount paid for the live website in 2012. Improvements are made to the site on |
| a regular basis and therefore the estimated useful life of the asset is 5 years. |
| Tangible fixed assets |
| Plant and machinery | - |
| 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. | INTANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1st January 2015 |
| and 31st December 2015 |
| AMORTISATION |
| At 1st January 2015 |
| Amortisation for year |
| At 31st December 2015 |
| NET BOOK VALUE |
| At 31st December 2015 |
| At 31st December 2014 |
| Pinnacle Crafts Limited (Registered number: 07109658) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 31st December 2015 |
| 3. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1st January 2015 |
| and 31st December 2015 |
| DEPRECIATION |
| At 1st January 2015 |
| Charge for year |
| At 31st December 2015 |
| NET BOOK VALUE |
| At 31st December 2015 |
| At 31st December 2014 |
| 4. | CALLED UP SHARE CAPITAL |
| Allotted and issued: |
| Number: | Class: | Nominal | 2015 | 2014 |
| value: | £ | £ |
| Share capital 1 | £1 |
| 5. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31st December 2015 and |
| 31st December 2014: |
| 2015 | 2014 |
| £ | £ |
| Balance outstanding at start of year | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Balance outstanding at end of year |
| During the year the directors' current account was credited with £260 for use of home as office space. |