Simplyaquaria Limited - Period Ending 2016-06-30

Registration number: 07672262

Simplyaquaria Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 June 2016
 

Aims Accountants for Business
Arthur Sampson FCA
Bramley Place
45 The Scarr
Newent
GL18 1DQ

Simplyaquaria Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Simplyaquaria Limited
for the Year Ended 30 June 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Simplyaquaria Limited for the year ended 30 June 2016 set out on pages 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 Board of Directors of Simplyaquaria Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Simplyaquaria Limited and state those matters that we have agreed to state to them, as a body, 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 Simplyaquaria Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Simplyaquaria Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Simplyaquaria Limited. You consider that Simplyaquaria Limited 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 accounts of Simplyaquaria Limited. 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 accounts.

......................................

Aims Accountants for Business
Arthur Sampson FCA
Bramley Place
45 The Scarr
Newent
GL18 1DQ

22 September 2016

Page 1

Simplyaquaria Limited
(Registration number: 07672262)
Abbreviated Balance Sheet at 30 June 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					3,719			4,371
Current assets
Stocks					214,413			131,388
Debtors					29,113			23,793
Cash at bank and in hand					17,913			11,882
					261,439			167,063
Creditors: Amounts falling due within one year					(156,977)			(90,952)
Net current assets					104,462			76,111
Total assets less current liabilities					108,181			80,482
Creditors: Amounts falling due after more than one year					(56,330)			(50,561)
Net assets					51,851			29,921
Capital and reserves
Called up share capital		3			18			18
Profit and loss account					51,833			29,903
Shareholders' funds					51,851			29,921

For the year ending 30 June 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 22 September 2016 and signed on its behalf by:

.........................................
Mr D I Dickson
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Simplyaquaria Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated
residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	20% straight line

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Page 3

Simplyaquaria Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 July 2015		10,254			10,254
Additions		1,740			1,740
At 30 June 2016		11,994			11,994
Depreciation
At 1 July 2015		5,883			5,883
Charge for the year		2,392			2,392
At 30 June 2016		8,275			8,275
Net book value
At 30 June 2016		3,719			3,719
At 30 June 2015		4,371			4,371

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		10			10			10			10
Ordinary Shares of £1 each		7			7			7			7
Ordinary Shares of £1 each		1			1			1			1
		18			18			18			18

Page 4