SABRE_JEWELLERY_LIMITED - Accounts

SABRE JEWELLERY LIMITED - Company Information

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Company Registration No. 02813603 (England and Wales)

SABRE JEWELLERY LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2016

SABRE JEWELLERY LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

SABRE JEWELLERY LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 APRIL 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

6,239

9,621

Current assets

Stocks

267,079

520,595

Debtors

64,806

217,597

Cash at bank and in hand

179,335

253,587

511,220

991,779

Creditors: amounts falling due within one year

(254,743)

(589,146)

Net current assets

256,477

402,633

Total assets less current liabilities

262,716

412,254

Provisions for liabilities

(775)

(1,924)

261,941

410,330

Capital and reserves

Called up share capital

100

Profit and loss account

261,841

410,230

Shareholders' funds

261,941

410,330

For the financial year ended 30 April 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 11 January 2017

C Marcus

Director

Company Registration No. 02813603

SABRE JEWELLERY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

15% straight line;

Computer equipment

33% straight line;

Fixtures, fittings & equipment

15% straight line.

1.5

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

Fixed assets

Tangible assets

Cost

At 1 May 2015

49,116

Additions

1,023

At 30 April 2016

50,139

Depreciation

At 1 May 2015

39,495

Charge for the year

4,405

At 30 April 2016

43,900

Net book value

At 30 April 2016

6,239

At 30 April 2015

9,621

SABRE JEWELLERY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 APRIL 2016

- 3 -

Share capital

2016

2015

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100

Related party relationships and transactions

Other transactions

Included within other creditors is a balance due to P R and C Marcus amounting to £34,547 (2015 - £60,417).