Slades Countrywise Honiton Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 02818766 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 30th June 2016

for

Slades Countrywise Honiton Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

P J Scott-Allen

Mrs S L Scott-Allen

SECRETARY:

Mrs S L Scott-Allen

REGISTERED OFFICE:

Units 3 & 4

Gloucester Cresent

Heathpark Industrial Estate

Honiton

Devon

EX14 1DB

REGISTERED NUMBER:

02818766 (England and Wales)

ACCOUNTANTS:

R G Holder & Co Ltd

Chartered Accountants

Whetcombe Whey

Ropers Lane

Wrington

Somerset

BS40 5NH

BANKERS:

Santander

Bootle

Merseyside

GIR 0AA

FIXED ASSETS

Tangible assets

2

4,018

7,234

CURRENT ASSETS

Stocks

31,697

31,476

Debtors

6,385

5,806

Cash at bank

52,234

17,925

90,316

55,207

CREDITORS

Amounts falling due within one year

91,145

58,156

NET CURRENT LIABILITIES

(829

)

(2,949

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

3,189

4,285

PROVISIONS FOR LIABILITIES

804

1,447

NET ASSETS

2,385

2,838

CAPITAL AND RESERVES

Called up share capital

3

80

Profit and loss account

2,305

2,758

SHAREHOLDERS' FUNDS

2,385

2,838

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 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 6th January 2017 and were signed on its behalf by:

P J Scott-Allen - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The accounts have been prepared in accordance with applicable accounting standards under the historic cost

convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015

).

Accounting convention

The following accounting policies have been consistently applied in dealing with the items which are considered

material to the company's accounts.

Turnover

Turnover consists of the invoiced value, excluding VAT, for goods and services supplied to third parties in the

ordinary course of business during the year.

Tangible fixed assets and depreciation

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

Fixtures, fittings & equipment

-

25% on a straight line basis

Stocks

Stock is stated at the lower of cost and net realisable value in the ordinary course of business.

Taxation

The charge for taxation is based on the trading profit for the year and takes into account deferred taxation. Full

provision is made for deferred tax liabilities arising from timing differences between the recognition of gains and

losses in the accounts and their recognition for corporate tax purposes. No account is taken for any deferred tax

assets where they arise.

Lease contracts

Leases are accounted for as operating leases and the rental costs are charged to the profit and loss account on a

straight line basis over the period of the lease.

Pension costs

The company operates a defined contribution pension scheme. Contributions payable to the pension scheme are

charged to the profit and loss account in the year to which they relate. The assets of the scheme are invested and

managed independently of the finances of the company.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st July 2015

and 30th June 2016

18,242

DEPRECIATION

At 1st July 2015

11,008

Charge for year

3,216

At 30th June 2016

14,224

NET BOOK VALUE

At 30th June 2016

4,018

At 30th June 2015

7,234

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

80

Ordinary

£1

80

4.	ULTIMATE CONTROLLING PARTY

The company is controlled by P J Scott-Allen and Mrs S L Scott-Allen by virtue of their 100% shareholding.