| The Shwosher Company Limited |
|
| Chartered Accountants' report to the board of directors on the preparation of the unaudited abbreviated accounts of The Shwosher Company Limited for the year ended 31 March 2016 |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of The Shwosher Company Limited for the year ended 31 March 2016 which comprise of the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
icaew.com/membershandbook. |
| Our work has been undertaken in accordance with AAF 2/10 as detailed at icaew.com/compilation. |
|
| Michael Norman & Co. |
| Chartered Accountants |
| Marlings |
| Camden Park |
| Tunbridge Wells |
| Kent |
| TN2 4TN |
|
| 31 December 2016 |
|
| The Shwosher Company Limited |
| Registered number: |
05946475 |
| Abbreviated Balance Sheet |
| as at 31 March 2016 |
|
| Notes |
|
|
2016 |
|
|
2015 |
| £ |
£ |
| Fixed assets |
| Intangible assets |
2 |
|
|
12,520 |
|
|
12,520 |
| Tangible assets |
3 |
|
|
59,722 |
|
|
81,458 |
|
|
|
|
72,242 |
|
|
93,978 |
|
| Current assets |
| Stocks |
|
|
2,000 |
|
|
14,622 |
| Debtors |
|
|
33,250 |
|
|
33,250 |
| Cash at bank and in hand |
|
|
1,035 |
|
|
1,136 |
|
|
|
36,285 |
|
|
49,008 |
|
| Creditors: amounts falling due within one year |
|
|
(222,154) |
|
|
(222,171) |
|
| Net current liabilities |
|
|
|
(185,869) |
|
|
(173,163) |
|
| Net liabilities |
|
|
|
(113,627) |
|
|
(79,185) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
5 |
|
|
1,060 |
|
|
1,060 |
| Profit and loss account |
|
|
|
(114,687) |
|
|
(80,245) |
|
| Shareholders' funds |
|
|
|
(113,627) |
|
|
(79,185) |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| Members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
| Michael B Norman |
| Director |
| Approved by the board on 31 December 2016 |
|
| The Shwosher Company Limited |
| Notes to the Abbreviated Accounts |
| for the year ended 31 March 2016 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
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 |
|
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers. |
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Plant and machinery |
25% per annum on written down value |
|
|
|
Stocks |
|
Stock is valued at the lower of cost and net realisable value after making due allowanc for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and vsriable overheads. |
|
|
| 2 |
Intangible fixed assets |
£ |
|
|
Cost |
|
At 1 April 2015 |
12,520 |
|
At 31 March 2016 |
12,520 |
|
|
|
|
|
|
|
|
Amortisation |
|
At 31 March 2016 |
- |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2016 |
12,520 |
|
At 31 March 2015 |
12,520 |
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 April 2015 |
86,361 |
|
At 31 March 2016 |
86,361 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2015 |
4,903 |
|
Charge for the year |
21,736 |
|
At 31 March 2016 |
26,639 |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2016 |
59,722 |
|
At 31 March 2015 |
81,458 |
|
|
|
|
|
|
|
|
| 4 |
Loans |
2016 |
|
2015 |
| £ |
£ |
|
Creditors include: |
|
Secured bank loans |
37,102 |
|
43,615 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Share capital |
Nominal |
|
2016 |
|
2016 |
|
2015 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
'A' Ordinary shares |
£1 each |
|
940 |
|
940 |
|
940 |
|
'B' Ordinary shares |
£1 each |
|
60 |
|
60 |
|
60 |
|
'C' Ordinary shares |
£1 each |
|
60 |
|
60 |
|
60 |
|
|
|
|
|
|
1,060 |
|
1,060 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Related party transactions |
2016 |
|
2015 |
| £ |
£ |
|
Diana K Beeny |
|
Director and shareholder |
|
Unsecured loan, interest free and repayable upon demand |
|
[Amount due from (to) the related party] |
(29,134) |
|
(29,234) |
|
|
Michael B Norman |
|
Director and shareholder |
|
Unsecured loan, interest free and repayable upon demand |
|
[Amount due from (to) the related party] |
(155,919) |
|
(142,626) |
|
| 7 |
Ultimate controlling party |
|
|
The Company is controlled by Diana Beeny and Michael Norman, both directors, who beneficially own 94.33% if the issued share capotal |
