Abbreviated Company Accounts - SWALLOWS FLIGHT ASSOCIATES LIMITED

SWALLOWS FLIGHT ASSOCIATES LIMITED - Company Information

Registered Number 08864504

SWALLOWS FLIGHT ASSOCIATES LIMITED

Abbreviated Accounts

31 January 2016

SWALLOWS FLIGHT ASSOCIATES LIMITED Registered Number 08864504

Abbreviated Balance Sheet as at 31 January 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	1,710	2,057
		1,710	2,057
Current assets
Stocks		5,270	4,890
Debtors		27,760	-
Cash at bank and in hand		70,847	82,420
		103,877	87,310
Creditors: amounts falling due within one year		(48,575)	(49,075)
Net current assets (liabilities)		55,302	38,235
Total assets less current liabilities		57,012	40,292
Total net assets (liabilities)		57,012	40,292
Capital and reserves
Called up share capital		250	250
Profit and loss account		56,762	40,042
Shareholders' funds		57,012	40,292

For the year ending 31 January 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 25 October 2016

And signed on their behalf by:
L Atkinson, Director

SWALLOWS FLIGHT ASSOCIATES LIMITED Registered Number 08864504

Notes to the Abbreviated Accounts for the period ended 31 January 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
The business is VAT registered and adopted the Flat Rate Scheme from 1 February 2014 until 31 July 2014. In this period turnover represents total gross invoiced fees inclusive of output VAT but net of the amounts of VAT paid in accordance with the regulations of the Flat Rate Scheme. Under the Flat Rate Scheme expenses are reported inclusive of VAT.

Tangible assets depreciation policy
Depreciation is calculated at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures & Equipment 20% Reducing Balance
Computer Equipment 20% Reducing Balance

No depreciation is charged in the year of acquisition

Valuation information and policy
Work in Progress:

Work in progress has been valued at prime cost of labour and materials plus other direct expenses.

2Tangible fixed assets

	£
Cost
At 1 February 2015	2,197
Additions	46
Disposals	-
Revaluations	-
Transfers	-
At 31 January 2016	2,243
Depreciation
At 1 February 2015	140
Charge for the year	393
On disposals	-
At 31 January 2016	533
Net book values
At 31 January 2016	1,710
At 31 January 2015	2,057