Accounts filed on 31-03-2016


Registered number: 05076241






Carpet Store (Lymington) Limited


ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31/03/2016
























Prepared By:
Marie-Anne Rose Limited
Chartered Accountants
Bay Tree Cottage
Crabbswood Lane
Sway
Hampshire
SO41 6EQ


Carpet Store (Lymington) Limited


ABBREVIATED ACCOUNTS


FOR THE YEAR ENDED 31/03/2016

















INDEX TO THE ACCOUNTS




Abbreviated Balance Sheet		2

Notes to the Abbreviated Accounts		3



The company's registered number is 05076241


Registered Number: 05076241

BALANCE SHEET AT 31/03/2016

			2016		2015
	Notes		£		£

FIXED ASSETS
Intangible assets	2		18,000		27,000
Tangible assets	3		8,793		10,965

			26,793		37,965

CURRENT ASSETS
Stock		6,417		3,992
Debtors (amounts falling due within one year)	4	7,499		8,181
Cash at bank and in hand		25,965		14,070
		39,881		26,243
CREDITORS: Amounts falling due within one year		65,872		63,596
NET CURRENT LIABILITIES			(25,991)		(37,353)
TOTAL ASSETS LESS CURRENT LIABILITIES			802		612

CAPITAL AND RESERVES

Called up share capital	5		100		100
Profit and loss account			702		512
SHAREHOLDERS' FUNDS			802		612

For the year ending 31/03/2016 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 19/10/2016 and signed on their behalf by




Richard Harriss
Director

1. ACCOUNTING POLICIES


1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).


1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Commercial Vehicles		reducing balance 25%
Fixtures and Fittings		reducing balance 15%
Equipment		reducing balance 25%


1c. Stocks
Stock and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks.


1d. Taxation
Corporation tax payable is provided on taxable profits at the current rates.
Provision is made for deferred taxation in so far as a liability or asset has arisen as a result of transactions that had occurred by the balance sheet date and have given rise to an obligation to pay more tax in the future, or the right to pay less tax in the future. An asset has not been recognised to the extent that the transfer of economic benefits in the future is uncertain. Deferred tax assets and liabilities recognised have not been discounted.


1e. Turnover
Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts.


1f. Goodwill
Goodwill arising in connection with the acquisition of the business is amortised over five years commencing with the year ended 31 March 2014.


1g. Leases
The payments made under operating leases are charged to the profit and loss account on a straight line basis over the lease term.


4. DEBTORS	2016	2015
	£	£

Amounts falling due within one year:
Trade debtors	7,066	7,748
Other debtors	433	433
	7,499	8,181


5. SHARE CAPITAL	2016	2015
	£	£
Allotted, issued and fully paid:
100 Ordinary shares of £1 each	100	100
	100	100


6. RELATED PARTY TRANSACTIONS
In 2016 the director received dividends of £15,000 (2015 - £12,500).


7. CONTROLLING PARTY
The controlling party is Mr R Harriss.