Abbreviated Company Accounts - CRASH PRICE FURNITURE LTD

CRASH PRICE FURNITURE LTD - Company Information

08452796 CRASH PRICE FURNITURE LTD 2016-03-31 false 2015-04-01 2016-03-31 true 08452796 2015-04-01 2016-03-31 08452796 2016-03-31 08452796 2015-03-31 08452796 uk-gaap-cd-bus:Director1 2015-04-01 2016-03-31 08452796 uk-gaap-cd-bus:Director2 2015-04-01 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-04-01 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-03-31 iso4217:GBP shares

Registered Number 08452796

CRASH PRICE FURNITURE LTD

Abbreviated Accounts

31 March 2016

CRASH PRICE FURNITURE LTD Registered Number 08452796

Abbreviated Balance Sheet as at 31 March 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	563	704
		563	704
Current assets
Stocks		5,180	6,450
Cash at bank and in hand		7,053	2,400
		12,233	8,850
Creditors: amounts falling due within one year		(1,554)	(3,387)
Net current assets (liabilities)		10,679	5,463
Total assets less current liabilities		11,242	6,167
Creditors: amounts falling due after more than one year		(8,539)	(11,095)
Total net assets (liabilities)		2,703	(4,928)
Capital and reserves
Called up share capital	3	1	1
Profit and loss account		2,702	(4,929)
Shareholders' funds		2,703	(4,928)

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 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 22 November 2016

And signed on their behalf by:
IBRAR WAHEED, Director

CRASH PRICE FURNITURE LTD Registered Number 08452796

Notes to the Abbreviated Accounts for the period ended 31 March 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover policy
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 20 % Reducing line method

Other accounting policies
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2Tangible fixed assets

	£
Cost
At 1 April 2015	1,100
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2016	1,100
Depreciation
At 1 April 2015	396
Charge for the year	141
On disposals	-
At 31 March 2016	537
Net book values
At 31 March 2016	563
At 31 March 2015	704

3Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
1 Ordinary shares of £1 each	1	1