David Seyfried Limited - Period Ending 2016-04-30

Registration number: 04424206

David Seyfried Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 April 2016
 

Beevers Moreno
Chartered Accountants
44 Chatsworth Gardens
Acton
London
W3 9LW

David Seyfried Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
David Seyfried Limited
for the Year Ended 30 April 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of David Seyfried Limited for the year ended 30 April 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of David Seyfried Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of David Seyfried Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than David Seyfried Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that David Seyfried Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of David Seyfried Limited. You consider that David Seyfried Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of David Seyfried Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Beevers Moreno
Chartered Accountants
44 Chatsworth Gardens
Acton
London
W3 9LW

6 December 2016

Page 1

David Seyfried Limited
(Registration number: 04424206)
Abbreviated Balance Sheet at 30 April 2016

		Note			2016 £			(As restated) 2015 £
Fixed assets
Tangible fixed assets					1,954			2,590
Current assets
Stocks					32,000			30,000
Debtors					62,348			121,602
Cash at bank and in hand					219,751			122,741
					314,099			274,343
Creditors: Amounts falling due within one year					(194,634)			(156,358)
Net current assets					119,465			117,985
Net assets					121,419			120,575
Capital and reserves
Called up share capital		3			1,000			1,000
Profit and loss account					120,419			119,575
Shareholders' funds					121,419			120,575

For the year ending 30 April 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 director acknowledges his 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 director on 6 December 2016

.........................................
Lord David Herbert
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

David Seyfried Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Land and buildings	11% straight line basis
Computer equipment	25% straight line basis
Fixtures and fittings	10% straight line basis

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

David Seyfried Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 May 2015		23,091			23,091
Additions		710			710
At 30 April 2016		23,801			23,801
Depreciation
At 1 May 2015		20,501			20,501
Charge for the year		1,346			1,346
At 30 April 2016		21,847			21,847
Net book value
At 30 April 2016		1,954			1,954
At 30 April 2015		2,590			2,590

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary of £1 each		1,000			1,000			1,000			1,000

Page 4