Abbreviated Company Accounts - MAUDE'S THE JEWELLERS LIMITED

MAUDE'S THE JEWELLERS LIMITED - Company Information

Registered Number 08055658

MAUDE'S THE JEWELLERS LIMITED

Abbreviated Accounts

31 March 2016

MAUDE'S THE JEWELLERS LIMITED Registered Number 08055658

Abbreviated Balance Sheet as at 31 March 2016

	Notes	2016	2015
		£	£
Fixed assets
Intangible assets	2	140,000	155,000
Tangible assets	3	63,770	58,905
		203,770	213,905
Current assets
Stocks		55,228	44,995
Debtors		12,077	109
Cash at bank and in hand		718	-
		68,023	45,104
Creditors: amounts falling due within one year		(251,406)	(240,702)
Net current assets (liabilities)		(183,383)	(195,598)
Total assets less current liabilities		20,387	18,307
Total net assets (liabilities)		20,387	18,307
Capital and reserves
Called up share capital		100	100
Profit and loss account		20,287	18,207
Shareholders' funds		20,387	18,307

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 30 December 2016

And signed on their behalf by:
A J Maude, Director

MAUDE'S THE JEWELLERS LIMITED Registered Number 08055658

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

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible assets depreciation policy
Depreciation is provided at the following rates in order to write off each asset over its estimated useful life.
Fixtures and fittings 25% on reducing balance
Computer equipment 33% on cost

Intangible assets amortisation policy
Goodwill being the amount paid in connection with the acquisition of the business in 2012 is being amortised evenly over its estimated useful life of ten years.

Other accounting policies
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

2Intangible fixed assets

	£
Cost
At 1 April 2015	200,000
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2016	200,000
Amortisation
At 1 April 2015	45,000
Charge for the year	15,000
On disposals	-
At 31 March 2016	60,000
Net book values
At 31 March 2016	140,000
At 31 March 2015	155,000

3Tangible fixed assets

	£
Cost
At 1 April 2015	64,223
Additions	26,375
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2016	90,598
Depreciation
At 1 April 2015	5,318
Charge for the year	21,510
On disposals	-
At 31 March 2016	26,828
Net book values
At 31 March 2016	63,770
At 31 March 2015	58,905