THE_SMALLS_LIMITED - Accounts

THE SMALLS LIMITED - Company Information

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Company Registration No. 05968558 (England and Wales)

THE SMALLS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2015

THE SMALLS LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

THE SMALLS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

2,147

Current assets

Debtors

146,312

111,978

Cash at bank and in hand

337,831

4,327

484,143

116,305

Creditors: amounts falling due within one year

(291,824)

(211,438)

Net current assets/(liabilities)

192,319

(95,133)

Total assets less current liabilities

192,319

(92,986)

Creditors: amounts falling due after more than one year

(393,720)

(387,170)

(201,401)

(480,156)

Capital and reserves

Called up share capital

321

269

Share premium account

456,109

136,273

Profit and loss account

(657,831)

(616,698)

Shareholders' funds

(201,401)

(480,156)

For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 30 September 2016

K Tancred

Director

Company Registration No. 05968558

THE SMALLS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

At the balance sheet date the company had net liabilities of £208,635 (2014 - £480,156). The company meets its day to day working capital requirements through the support of its creditors and shareholders. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts. Revenue from contracts for the provision of services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

33.33% straight line

1.5

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

THE SMALLS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2015

- 3 -

Fixed assets

Tangible assets

Cost

At 1 January 2015 & at 31 December 2015

8,228

Depreciation

At 1 January 2015

6,081

Charge for the year

2,147

At 31 December 2015

8,228

Net book value

At 31 December 2015

At 31 December 2014

2,147

Share capital

2015

2014

Allotted, called up and fully paid

26,886 Ordinary Shares of 1p each

321

269

During the year, 5,166 ordinary 1p shares were issued for a total consideration of £319,887.