Phone Shop (Chester) Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 07953842 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 March 2016

for

Phone Shop (Chester) Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

Mr J Algieri

REGISTERED OFFICE:

Commodore House

51 Conway Road

Colwyn Bay

Conwy

LL29 7AW

REGISTERED NUMBER:

07953842 (England and Wales)

ACCOUNTANTS:

Task Accounting Limited

Commodore House

51 Conway Road

Colwyn Bay

Conwy

LL29 7AW

FIXED ASSETS

Tangible assets

2

2,930

3,447

CURRENT ASSETS

Stocks

8,000

Debtors

3,600

Cash at bank

3,583

4,306

15,183

15,906

CREDITORS

Amounts falling due within one year

16,712

16,353

NET CURRENT LIABILITIES

(1,529

)

(447

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,401

3,000

PROVISIONS FOR LIABILITIES

586

690

NET ASSETS

815

2,310

CAPITAL AND RESERVES

Called up share capital

3

100

Profit and loss account

715

2,210

SHAREHOLDERS' FUNDS

815

2,310

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company
as at the end of each financial year and of its profit or loss for each financial year in accordance with
the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the
Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 21 December 2016 and were signed by:

Mr J Algieri - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements 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 net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed

at the balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line

basis over the period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

18,786

DEPRECIATION

At 1 April 2015

15,339

Charge for year

517

At 31 March 2016

15,856

NET BOOK VALUE

At 31 March 2016

2,930

At 31 March 2015

3,447

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

100

Ordinary

£1

100