Worth Furnishing Limited - Abbreviated accounts

WORTH FURNISHING LIMITED - Company Information

Registered number

05215511

Worth Furnishing Limited

Abbreviated Accounts

31 March 2016

Worth Furnishing Limited
Registered number:		05215511
Abbreviated Balance Sheet
as at 31 March 2016

Notes			2016			2015
£				£
Fixed assets
Tangible assets	2		139,522			49,308

Current assets
Stocks		65,196			63,297
Debtors		160,076			130,349
Cash at bank and in hand		605			37,361
		225,877			231,007

Creditors: amounts falling due within one year		(179,513)			(164,534)

Net current assets			46,364			66,473

Net assets			185,886			115,781

Capital and reserves
Called up share capital	3		100			100
Profit and loss account			185,786			115,681

Shareholders' funds			185,886			115,781

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.
The 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.



Stefan Butterworth
Director
Approved by the board on 18 January 2017

Worth Furnishing 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 January 2015).

	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% straight line
	Motor vehicles			25% straight line

	Stocks
	Stock is valued at the lower of cost and net realisable value.

	Deferred taxation
	Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.

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


2	Tangible fixed assets					£

	Cost
	At 1 April 2015					93,202
	Additions					123,119
	At 31 March 2016					216,321

	Depreciation
	At 1 April 2015					43,894
	Charge for the year					32,905
	At 31 March 2016					76,799

	Net book value
	At 31 March 2016					139,522
	At 31 March 2015					49,308


3	Share capital	Nominal		2016		2016		2015
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		-		100		100