Austique Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 04992720

Abbreviated Unaudited Accounts for the Year Ended 31 January 2013

for

Austique Limited

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

3

FIXED ASSETS

Intangible assets

2

11,183

13,383

Tangible assets

3

78,372

103,969

89,555

117,352

CURRENT ASSETS

Stocks

508,619

507,640

Debtors

76,543

64,278

Cash at bank

26,542

43,810

611,704

615,728

CREDITORS

Amounts falling due within one year

1,191,030

601,262

NET CURRENT (LIABILITIES)/ASSETS

(579,326

)

14,466

TOTAL ASSETS LESS CURRENT LIABILITIES

(489,771

)

131,818

CREDITORS

Amounts falling due after more than one year

47,892

76,055

NET (LIABILITIES)/ASSETS

(537,663

)

55,763

CAPITAL AND RESERVES

Called up share capital

4

34

34

Share premium

451,988

451,988

Profit and loss account

(989,685

)

(396,259

)

SHAREHOLDERS' FUNDS

(537,663

)

55,763

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2013 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 28 July 2014 and were signed on its behalf by:

R R Morris - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on a going concern basis because C Calvin and M Lopes, who were

directors at the balance sheet date, have agreed to continue to provide financial support to company in the form

of not seeking repayment of their loans of £654,956 for the foreseeable future.

Accounting convention

The financial statements 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 net invoiced sales of goods, excluding value added tax.

Development costs

Website development costs are amortised over 10 years.

Tangible fixed assets

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

Short leasehold

-

straight line over the life of the lease

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 February 2012

and 31 January 2013

22,000

AMORTISATION

At 1 February 2012

8,617

Amortisation for year

2,200

At 31 January 2013

10,817

NET BOOK VALUE

At 31 January 2013

11,183

At 31 January 2012

13,383

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 February 2012

239,071

Additions

1,799

At 31 January 2013

240,870

DEPRECIATION

At 1 February 2012

135,102

Charge for year

27,396

At 31 January 2013

162,498

NET BOOK VALUE

At 31 January 2013

78,372

At 31 January 2012

103,969

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.13

31.1.12

value:

£

£

3,363

Ordinary

1p

34

34

5.	RELATED PARTY DISCLOSURES