In the Detail (Notts) Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 07828446 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 December 2015

for

In the Detail (Notts) Ltd

Page

Company Information

1

Chartered Accountants' Report

2

Abbreviated Balance Sheet

3

Notes to the Abbreviated Accounts

4

DIRECTOR:

C Wright

REGISTERED OFFICE:

1 Chain Lane

Newark

NG24 1AU

REGISTERED NUMBER:

07828446 (England and Wales)

ACCOUNTANTS:

Wright Vigar Limited

Chartered Accountants & Business Advisers

38-40 Northgate

Newark

Nottinghamshire

NG24 1EZ

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages three to five)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of In the Detail (Notts) Ltd for the year ended 31 December 2015 which comprise the Profit and

Loss Account, the Balance Sheet, the Cash Flow Statement, the Statement of Total Recognised Gains and Losses and

the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the director of In the Detail (Notts) Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of In the Detail (Notts) Ltd and state those matters that we have agreed to state to the director of In the Detail (Notts) Ltd in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that In the Detail (Notts) Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of In the Detail (Notts) Ltd. You consider that In the Detail (Notts) Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of In the Detail (Notts) Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Wright Vigar Limited

Chartered Accountants & Business Advisers

38-40 Northgate

Newark

Nottinghamshire

NG24 1EZ

29 September 2016

FIXED ASSETS

Tangible assets

2

2,482

8,748

CURRENT ASSETS

Stocks

400

-

Debtors

5,107

4,198

Cash at bank

703

21

6,210

4,219

CREDITORS

Amounts falling due within one year

28,481

28,196

NET CURRENT LIABILITIES

(22,271

)

(23,977

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(19,789

)

(15,229

)

CREDITORS

Amounts falling due after more than one
year

635

-

NET LIABILITIES

(20,424

)

(15,229

)

CAPITAL AND RESERVES

Called up share capital

3

1

Profit and loss account

(20,425

)

(15,230

)

SHAREHOLDERS' FUNDS

(20,424

)

(15,229

)

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 director acknowledges his 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 director on 29 September 2016 and were signed by:

C Wright - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

At 31 December 2015 the company's net current liabilities exceeded its total assets by £19,789 (2014: £15,229)

Included within liabilities are amounts due to the director of the company totalling £18,087 (2014: £16,437), also

included is a loan from The Bald Barber Limited of £9,026 (2014: £5,903) a company controlled by the director

Mr C Wright . The director has agreed that this funding will not be removed in the near future and also that they

will continue to financially support the company's cash flow as necessary.

On the basis described above, the director consider it appropriate to prepare these financial statements on the

going concern basis.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% 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 material timing differences that have originated but not reversed at

the balance sheet date where transactions or events that result in an obligation to pay more or less tax in the

future have occurred at the balance sheet date. Timing differences are differences between the company's

taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and

losses in tax assessments in periods different from those in which they are recognised in the financial

statements.

A net deferred tax asset is regarded as recoverable and therefore recognised only when, on the basis of all

available evidence, it can be regarded as more likely than not that there will be suitable taxable profits from

which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured at the average tax rates that are expected to apply in the periods in which the timing

differences are expected to reverse, based on tax rates and laws that have been enacted or substantially

enacted by the balance sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

16,679

Additions

1,720

Disposals

(13,396

)

At 31 December 2015

5,003

DEPRECIATION

At 1 January 2015

7,931

Charge for year

1,518

Eliminated on disposal

(6,928

)

At 31 December 2015

2,521

NET BOOK VALUE

At 31 December 2015

2,482

At 31 December 2014

8,748

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

1

Ordinary

£1

1