Company Registration No. 01772844 (England and Wales)
SHOWGRADE LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2016
SHOWGRADE LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
SHOWGRADE LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 JANUARY 2016
31 January 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
63,000
100,000
Current assets
Debtors
9,771
7,270
Cash at bank and in hand
3,831
6,070
13,602
13,340
Creditors: amounts falling due within one year
(2,824)
(2,710)
Net current assets
10,778
10,630
Total assets less current liabilities
73,778
110,630
Capital and reserves
Called up share capital
3
1,000
1,000
Revaluation reserve
29,922
66,922
Profit and loss account
42,856
42,708
Shareholders' funds
73,778
110,630
For the financial year ended 31 January 2016 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 27 September 2016
Mr J R Donaldson
Mrs A Donaldson
Director
Director
Company Registration No. 01772844
SHOWGRADE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2007).
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.3
Tangible fixed assets and depreciation
Investment properties have been revalued as required by Financial Repoprting Standards for Smaller Entities. No depreciation has been provided, which represents a departure from the Companies Act requirements. The effect of this has not been quantified due to the lack of information on the split of land and buildings.
1.4
Revenue recognition
Rental income is recognised at the point of delivery of the rental invoice to the tenant.
2
Fixed assets
Tangible assets
£
Cost or valuation
At 1 February 2015
100,000
Revaluation
(37,000)
At 31 January 2016
63,000
At 31 January 2015
100,000
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
1,000 Ordinary shares of £1 each
1,000
1,000
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