Acorn Floors & Furnishings Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 03916603 (England and Wales)

ABBREVIATED ACCOUNTS

FOR THE PERIOD 1ST MAY 2015 TO 31ST MAY 2016

FOR

ACORN FLOORS & FURNISHINGS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr C H Ferguson

Mrs J E Ferguson

SECRETARY:

Mr C H Ferguson

REGISTERED OFFICE:

C/o Michael Heaven & Associates Limited

Quadrant Court

48 Calthorpe Road, Edgbaston

BIRMINGHAM

West Midlands

B15 1TH

REGISTERED NUMBER:

03916603 (England and Wales)

ACCOUNTANTS:

Michael Heaven & Associates Limited

Chartered Certified Accountants

Quadrant Court

48 Calthorpe Road

Edgbaston

BIRMINGHAM

B15 1TH

INCORPORATED:

31st January 2000

FIXED ASSETS

Tangible assets

2

2,429

1,488

CURRENT ASSETS

Stocks

-

500

Debtors

23,172

74,601

Cash at bank

18,765

27,916

41,937

103,017

CREDITORS

Amounts falling due within one year

46,147

101,726

NET CURRENT (LIABILITIES)/ASSETS

(4,210

)

1,291

TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,781

)

2,779

PROVISIONS FOR LIABILITIES

486

298

NET (LIABILITIES)/ASSETS

(2,267

)

2,481

CAPITAL AND RESERVES

Called up share capital

3

1,600

Profit and loss account

(3,867

)

881

SHAREHOLDERS' FUNDS

(2,267

)

2,481

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31st May 2016.

The members have not required the company to obtain an audit of its financial statements for the period ended 31st May 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 26th August 2016 and were signed on its
behalf by:

Mr C H Ferguson - Director

1.	ACCOUNTING POLICIES

Going concern

At the year end the company shows an insolvent balance sheet. The company meets its day to day

working capital requirements through the support of its directors who have undertaken that this support

will not be withdrawn within twelve months from the date of signature of these financial statements. On

this basis the directors consider it appropriate to prepare these accounts on a 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 the value of goods and services provided under contracts to the extent that there is a

right to consideration and is recorded at the value of the consideration due.

Tangible fixed assets

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

Computer equipment - 25% straight line

Plant and machinery - 15% 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 timing differences that have originated but not reversed at the

balance sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st May 2015

4,200

Additions

1,705

At 31st May 2016

5,905

DEPRECIATION

At 1st May 2015

2,712

Charge for period

764

At 31st May 2016

3,476

NET BOOK VALUE

At 31st May 2016

2,429

At 30th April 2015

1,488

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

75

Ordinary C

£1

75

25

Ordinary D

£1

25

500

Ordinary E

£1

500

Ordinary F

£1

500

Ordinary G

£1

500

1,600

4.	ULTIMATE PARENT COMPANY

Acorn Floors & Furnishings Limited was a wholly owned subsidiary company of Millgold Limited

registered in the UK until 31st May 2016.