David_Morris_Fine_Violins - Accounts
David_Morris_Fine_Violins - Accounts
Unaudited Abbreviated Accounts
For the year ended 31 December 2015
Company Registration No. 04986991 (England and Wales)
Contents
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
Abbreviated Balance Sheet
As at 31 December 2015
Page 1
2015
2014
Notes
£
£
£
£
Current assets
Stocks
Cash at bank and in hand
Creditors: amounts falling due within one year
(934,767 )
(894,264 )
Total assets less current liabilities
Capital and reserves
Called up share capital
2
Profit and loss account
Shareholders' funds
Approved by the Board for issue on 29 September 2016
Director
Company Registration No. 04986991
Notes to the Abbreviated Accounts
For the year ended 31 December 2015
Page 2
1
Accounting policies
1.1
Accounting convention
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
1.4
Stock
Stocks are stated at the lower of cost and net realisable value. Cost includes all direct costs incurred in bringing the stocks to their present location and condition.
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.
2
Share capital
2015
2014
£
£
Allotted, called up and fully paid
3
Related party relationships and transactions
Transactions with director
During the period the director made payments on behalf of the company and received monies in respect of amounts outstanding. At the balance sheet date included within other creditors is an amount of £859,800 (2014 - £842,820) due to the director.