Style Interiors Contracts Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 07673505 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 March 2016

for

Style Interiors Contracts Ltd

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

3

FIXED ASSETS

Tangible assets

2

52,170

10,328

CURRENT ASSETS

Stocks

15,427

12,225

Debtors

308,789

349,244

Cash at bank and in hand

45,637

226,586

369,853

588,055

CREDITORS

Amounts falling due within one year

419,857

591,632

NET CURRENT LIABILITIES

(50,004

)

(3,577

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,166

6,751

PROVISIONS FOR LIABILITIES

10,434

680

NET (LIABILITIES)/ASSETS

(8,268

)

6,071

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

(8,368

)

5,971

SHAREHOLDERS' FUNDS

(8,268

)

6,071

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 directors acknowledge their 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 Board of Directors on 15 November 2016 and were signed on its behalf by:

Mr J E Barton - Director

Mr D F Oulsnam - 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 services, excluding value added tax.

Revenue is recognised as the company becomes entitled to consideration for the services supplied. Therefore,

turnover also includes the element of work completed but not yet invoiced.

Tangible fixed assets

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

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

20% on reducing balance

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

18,138

Additions

54,885

At 31 March 2016

73,023

DEPRECIATION

At 1 April 2015

7,810

Charge for year

13,043

At 31 March 2016

20,853

NET BOOK VALUE

At 31 March 2016

52,170

At 31 March 2015

10,328

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

35

Ordinary A

£1

35

35

15

Ordinary B

£1

15

15

35

Ordinary C

£1

35

35

15

Ordinary D

£1

15

15

100

100