Old Flames Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 02429371 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2016

FOR

OLD FLAMES LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

5

DIRECTORS:

Mr K V Wonfor

Mrs A Wonfor

SECRETARY:

Mrs A Wonfor

REGISTERED OFFICE:

Cedar Court

5 College Street

Petersfield

Hampshire

GU31 4AE

REGISTERED NUMBER:

02429371 (England and Wales)

ACCOUNTANTS:

Wallis White & Co

Accountants and Tax Consultants

Cedar Court

5 College Street

Petersfield

Hampshire

GU31 4AE

FIXED ASSETS

Tangible assets

2

2,746

3,231

Investments

3

211,094

213,840

214,325

CURRENT ASSETS

Stocks

74,000

67,000

Debtors

34,488

36,951

Cash at bank

3,346

17,790

111,834

121,741

CREDITORS

Amounts falling due within one year

409,597

420,024

NET CURRENT LIABILITIES

(297,763

)

(298,283

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(83,923

)

(83,958

)

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

(84,023

)

(84,058

)

SHAREHOLDERS' FUNDS

(83,923

)

(83,958

)

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 13 December 2016 and were signed on its behalf by:

Mr K V Wonfor - 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

Computer equipment

-

15% 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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

25,534

DEPRECIATION

At 1 April 2015

22,303

Charge for year

485

At 31 March 2016

22,788

NET BOOK VALUE

At 31 March 2016

2,746

At 31 March 2015

3,231

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 April 2015

and 31 March 2016

211,094

NET BOOK VALUE

At 31 March 2016

211,094

At 31 March 2015

211,094

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

100

Ordinary

£1

100