| Tenby Bookshop (Tenby) Limited |
| Registered number: |
07510349 |
| Directors' Report |
|
| The directors present their report and accounts for the year ended 31 January 2016. |
|
| Principal activities |
| The company's principal activity during the year continued to be a bookshop. |
|
| Directors |
| The following persons served as directors during the year: |
|
|
Mr M Evans |
|
Ms J Jones |
|
| Directors' responsibilities |
| The directors are responsible for preparing the report and accounts in accordance with applicable law and regulations. |
|
| Company law requires the directors to prepare accounts for each financial year. Under that law the directors have elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these accounts, the directors are required to: |
| ● |
select suitable accounting policies and then apply them consistently; |
| ● |
make judgements and estimates that are reasonable and prudent; |
| ● |
prepare the accounts on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
|
| The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
|
| Small company provisions |
| This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
| This report was approved by the board on 19 October 2016 and signed on its behalf. |
|
|
|
|
|
| Mr M Evans |
| Director |
|
| Tenby Bookshop (Tenby) Limited |
| Balance Sheet |
| as at 31 January 2016 |
|
| Notes |
|
|
2016 |
|
|
2015 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
4 |
|
|
2,988 |
|
|
3,515 |
|
| Current assets |
| Stocks |
|
|
23,500 |
|
|
16,500 |
| Cash at bank and in hand |
|
|
11,496 |
|
|
19,020 |
|
|
|
34,996 |
|
|
35,520 |
|
| Creditors: amounts falling due within one year |
5 |
|
(12,682) |
|
|
(12,583) |
|
| Net current assets |
|
|
|
22,314 |
|
|
22,937 |
|
| Total assets less current liabilities |
|
|
|
25,302 |
|
|
26,452 |
|
|
| Provisions for liabilities |
6 |
|
|
(951) |
|
|
(951) |
|
|
| Net assets |
|
|
|
24,351 |
|
|
25,501 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
7 |
|
|
100 |
|
|
100 |
| Profit and loss account |
8 |
|
|
24,251 |
|
|
25,401 |
|
| Shareholders' funds |
|
|
|
24,351 |
|
|
25,501 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
|
| Mr M Evans |
| Director |
| Approved by the board on 19 October 2016 |
|
| Tenby Bookshop (Tenby) Limited |
| Notes to the Accounts |
| for the year ended 31 January 2016 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts 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, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers. |
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Plant and machinery |
15% reducing balance |
|
Motor vehicles |
25% straight line |
|
|
Stocks |
|
Stock is valued at the lower of cost and net realisable value. |
|
|
Deferred taxation |
|
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. |
|
|
Foreign currencies |
|
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account. |
|
|
Leasing and hire purchase commitments |
|
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.
The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.
Rentals paid under operating leases are charged to income on a straight line basis over the lease term. |
|
|
Pensions |
|
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme. |
|
|
| 2 |
Operating profit |
2016 |
|
2015 |
| £ |
£ |
|
This is stated after charging: |
|
|
Depreciation of owned fixed assets |
527 |
|
620 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Taxation |
2016 |
|
2015 |
| £ |
£ |
|
|
UK corporation tax |
- |
|
1,474 |
|
Deferred tax |
- |
|
124 |
|
|
|
|
|
|
- |
|
1,598 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery etc |
| £ |
|
Cost |
|
At 1 February 2015 |
4,873 |
|
At 31 January 2016 |
4,873 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 February 2015 |
1,358 |
|
Charge for the year |
527 |
|
At 31 January 2016 |
1,885 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 January 2016 |
2,988 |
|
At 31 January 2015 |
3,515 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2016 |
|
2015 |
| £ |
£ |
|
|
Trade creditors |
4,750 |
|
5,211 |
|
Corporation tax |
- |
|
1,474 |
|
Other taxes and social security costs |
368 |
|
227 |
|
Other creditors |
7,564 |
|
5,671 |
|
|
|
|
|
|
12,682 |
|
12,583 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Provisions for liabilities |
|
Deferred taxation: |
2016 |
|
2015 |
| £ |
£ |
|
|
Accelerated capital allowances |
951 |
|
951 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2016 |
|
2015 |
| £ |
£ |
|
|
At 1 February |
951 |
|
827 |
|
Deferred tax charge in profit and loss account |
- |
|
124 |
|
|
At 31 January |
951 |
|
951 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Share capital |
Nominal |
|
2016 |
|
2016 |
|
2015 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
100 |
|
100 |
|
100 |
|
|
|
|
|
|
|
|
|
|
| 8 |
Profit and loss account |
2016 |
| £ |
|
|
At 1 February 2015 |
25,401 |
|
Loss for the year |
(1,150) |
|
|
At 31 January 2016 |
24,251 |
|
|
|
|
|
|
|
|
| 9 |
Related party transactions |
2016 |
|
2015 |
| £ |
£ |
|
Mr M Evans |
|
Director |
|
Personal funds loaned to the company. |
|
8,000 |
|
Hope and Anchor |
|
Mr M Evans, director is also a Partner of Hope and Anchor |
|
Short term loan |
|
5,000 |
|
|
| 10 |
Ultimate controlling party |
|
|
The ultimate controlling party is the Directors, by virtue of their shareholding. |
