CARPET STORE LYMINGTON LIMIT - Accounts 2014

CARPET STORE LYMINGTON LIMIT - Accounts 2014

CARPET STORE LYMINGTON LIMITED - Company Information

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2013-04-012014-03-3105076241falsetruehttp://www.companieshouse.gov.uk/cd:Director12013-04-012014-03-31http://www.companieshouse.gov.uk/pt:CommercialMotorVehicles2013-03-31http://www.companieshouse.gov.uk/pt:CommercialMotorVehicles2014-03-31http://www.companieshouse.gov.uk/pt:FixturesFittings2013-03-31http://www.companieshouse.gov.uk/pt:FixturesFittings2014-03-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12013-04-012014-03-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12014-03-31http://www.companieshouse.gov.uk/pt:PositiveGoodwill2013-03-31http://www.companieshouse.gov.uk/pt:CommercialMotorVehicles2013-04-012014-03-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12013-03-31http://www.companieshouse.gov.uk/pt:PositiveGoodwill2014-03-31http://www.companieshouse.gov.uk/pt:FixturesFittings2013-04-012014-03-31http://www.companieshouse.gov.uk/pt:PositiveGoodwill2013-04-012014-03-31http://www.companieshouse.gov.uk/2012-04-012013-03-31http://www.companieshouse.gov.uk/2013-04-012014-03-31http://www.companieshouse.gov.uk/2013-03-31http://www.companieshouse.gov.uk/2014-03-31http://www.companieshouse.gov.uk/cd:EntityAccountantsOrAuditors2013-04-012014-03-31http://www.companieshouse.gov.uk/2013-03-31iso4217:GBPxbrli:sharesxbrli:pure
Registered number: 05076241
Carpet Store (Lymington) Limited
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31/03/2014
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 31/03/2014
INDEX TO THE ACCOUNTS
Abbreviated Balance Sheet2
Notes to the Abbreviated Accounts3
The company's registered number is 05076241

Carpet Store (Lymington) Limited
Registered Number: 05076241
BALANCE SHEET AT 31/03/2014
20142013
Notes££
FIXED ASSETS
Intangible assets236,00045,000
Tangible assets34,9595,611
40,95950,611
CURRENT ASSETS
Stock3,9275,204
Debtors (amounts falling due within one year)46,0887,173
Cash at bank and in hand32,78220,610
42,79732,987
CREDITORS: Amounts falling due within one year76,16378,330
NET CURRENT LIABILITIES(33,366)(45,343)
TOTAL ASSETS LESS CURRENT LIABILITIES7,5935,268
CAPITAL AND RESERVES
Called up share capital5100100
Profit and loss account7,4935,168
SHAREHOLDERS' FUNDS7,5935,268
For the year ending 31/03/2014 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 30/09/2014 and signed on their behalf by
Richard Harriss
Director

Carpet Store (Lymington) Limited
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/03/2014
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 April 2008).
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Commercial Vehiclesreducing balance 25%
Fixtures and Fittingsreducing balance 15%
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.
2. INTANGIBLE FIXED ASSETS
Purchased
GoodwillTotal
££
Cost
At 01/04/201345,00045,000
At 31/03/201445,00045,000
Depreciation
For the year9,0009,000
At 31/03/20149,0009,000
Net Book Amounts
At 31/03/201436,00036,000
At 31/03/201345,00045,000

Carpet Store (Lymington) Limited
3. TANGIBLE FIXED ASSETS
CommercialFixtures
Vehiclesand FittingsTotal
£££
Cost
At 01/04/20133,29312,17615,469
Additions-292292
At 31/03/20143,29312,46815,761
Depreciation
At 01/04/20132,7077,1519,858
For the year146798944
At 31/03/20142,8537,94910,802
Net Book Amounts
At 31/03/20144404,5194,959
At 31/03/20135865,0255,611
4. DEBTORS 20142013
££
Amounts falling due within one year:
Trade debtors4,2957,173
Other debtors1,793-
6,0887,173
5. SHARE CAPITAL 20142013
££
Allotted, issued and fully paid:
100 Ordinary shares of £1 each100100
100100
6. RELATED PARTY TRANSACTIONS
In 2014 the director received dividends of £16,000 (2013 - £16,600).