Abbreviated Company Accounts - SWEET VELVET LIMITED

SWEET VELVET LIMITED - Company Information

03711341 SWEET VELVET LIMITED 2014-01-31 false 2013-02-01 2014-01-31 true 03711341 2013-02-01 2014-01-31 03711341 2014-01-31 03711341 2013-01-31 03711341 uk-gaap-cd-bus:Director1 2013-02-01 2014-01-31 03711341 uk-gaap-cd-bus:Director2 2013-02-01 2014-01-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-02-01 2014-01-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-01-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-01-31 iso4217:GBP shares

Registered Number 03711341

SWEET VELVET LIMITED

Abbreviated Accounts

31 January 2014

SWEET VELVET LIMITED Registered Number 03711341

Abbreviated Balance Sheet as at 31 January 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	2	277	370
		277	370
Current assets
Stocks		5,769	5,792
Cash at bank and in hand		127	29
		5,896	5,821
Creditors: amounts falling due within one year		(26,369)	(25,042)
Net current assets (liabilities)		(20,473)	(19,221)
Total assets less current liabilities		(20,196)	(18,851)
Total net assets (liabilities)		(20,196)	(18,851)
Capital and reserves
Called up share capital	3	1,000	1,000
Profit and loss account		(21,196)	(19,851)
Shareholders' funds		(20,196)	(18,851)

For the year ending 31 January 2014 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 27 October 2014

And signed on their behalf by:
R A Cabo, Director

SWEET VELVET LIMITED Registered Number 03711341

Notes to the Abbreviated Accounts for the period ended 31 January 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements have been prepared under the historical cost convention and in accordance with the FRSSE.

Going Concern
The financial statements have been prepared on a going concern basis

Turnover
Turnover which excludes VAT and trade discounts represents the invoiced value of goods and services provided.

Depreciation
The cost of tangible fixed assets is their purchase cost together with any incidental costs of acquisition. Depreciation is calculated to write off the cost of tangible fixed assets on a reducing balance basis over their useful economic lives.

Asset Class - Depreciation method and rate
Computer - 25% reducing

Stock
The stock has been valued by the director and is stated at the lower of cost and net realisable value. In general cost is determined on a first in first out basis and includes transport and handling costs. Where necessary provision is made for obsolete, slow moving and defective stock.

Foreign currency
Issued share capital is translated into sterling at the rate of exchange ruling on the date of issue. All other assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling on the balance sheet date.
Income recieved and expenditure incurred in foreign currencies is translated into sterling at the rate of echange ruling on the date the transaction took place.

Hire purchase and leasing
Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

2Tangible fixed assets

	£
Cost
At 1 February 2013	1,112
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 January 2014	1,112
Depreciation
At 1 February 2013	742
Charge for the year	93
On disposals	-
At 31 January 2014	835
Net book values
At 31 January 2014	277
At 31 January 2013	370

3Called Up Share Capital
Allotted, called up and fully paid:

	2014 £	2013 £
1,000 Ordinary shares of £1 each	1,000	1,000