Company Registration No. 08855254 (England and Wales)
EYLES ENTERPRISES LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2016
EYLES ENTERPRISES LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
EYLES ENTERPRISES LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 JANUARY 2016
31 January 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
123,142
123,143
Current assets
Cash at bank and in hand
866
1,798
Creditors: amounts falling due within one year
(120,243)
(123,148)
Net current liabilities
(119,377)
(121,350)
Total assets less current liabilities
3,765
1,793
Capital and reserves
Called up share capital
3
300
300
Profit and loss account
3,465
1,493
Shareholders' funds
3,765
1,793
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 28 September 2016
Mr D T Eyles
Director
Company Registration No. 08855254
EYLES ENTERPRISES 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Turnover
Turnover represents rents receivable in the period.rents receivable in the period.
1.3
Investments
Investment properties are included in the balance sheet at their open market value. Investment Properties are not depreciated. Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified. Investment Properties are not depreciated.
Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
1.4
All costs are shown gross of irrecoverable VAT.
2
Fixed assets
Tangible assets
£
Cost
At 1 February 2015 & at 31 January 2016
123,142
At 31 January 2015
123,143
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
300 Ordinary of £1 each
300
300
4
Related party relationships and transactions
Other transactions
During the period, Mr D Eyles lent the company £44,079. Amounts totalling £47,289 were repaid in the year and £118,819 was outstanding at 31 January 2016 (2015: £122,030) .
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