Leyburn Pets Ltd - Period Ending 2016-03-31

Registration number: 05790312

Leyburn Pets Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

Leyburn Pets Ltd
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

Leyburn Pets Ltd
(Registration number: 05790312)
Abbreviated Balance Sheet at 31 March 2016

		Note			2016 £			2015 £
Fixed assets
Intangible fixed assets					-			1,500
Tangible fixed assets					2,621			3,407
					2,621			4,907
Current assets
Stocks					25,736			27,090
Debtors					3,505			2,514
Cash at bank and in hand					1,300			742
					30,541			30,346
Creditors: Amounts falling due within one year					(36,617)			(32,925)
Net current liabilities					(6,076)			(2,579)
Total assets less current liabilities					(3,455)			2,328
Creditors: Amounts falling due after more than one year					-			(840)
Net (liabilities)/assets					(3,455)			1,488
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					(3,555)			1,388
Shareholders' (deficit)/funds					(3,455)			1,488

For the year ending 31 March 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 23 December 2016

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 1

Leyburn Pets Ltd
(Registration number: 05790312)
Abbreviated Balance Sheet at 31 March 2016
......... continued

.........................................
Mr Neil Lobley
Chairman and chief executive

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

Leyburn Pets Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 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.

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents net invoiced sales of services, excluding Value Added Tax.

Goodwill

Amortisation is provided at 10% on cost of goodwill acquired in order to write it off over its estimated useful life.

Amortisation

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

Asset class	Amortisation method and rate
Goodwill	Straight line over 10 years

Depreciation

Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life.

Asset class	Depreciation method and rate
Motor vehicles	Reducing balance basis at 25%
Fixtures and fittings	Reducing balance basis at 20%
Office equipment	Reducing balance basis at 20%

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.

Page 3

Leyburn Pets Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

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.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 April 2015		15,000			16,233			31,233
At 31 March 2016		15,000			16,233			31,233
Depreciation
At 1 April 2015		13,500			12,826			26,326
Charge for the year		1,500			786			2,286
At 31 March 2016		15,000			13,612			28,612
Net book value
At 31 March 2016		-			2,621			2,621
At 31 March 2015		1,500			3,407			4,907

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary £1 of £1 each		100			100			100			100

Page 4