Saleboards Limited - Abbreviated accounts 16.3

SALEBOARDS LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Dr J P Newall

Mrs L J Newall

SECRETARY:

Dr J P Newall

REGISTERED OFFICE:

51 South Street

Exeter

Devon

EX1 1EE

REGISTERED NUMBER:

05810855 (England and Wales)

ACCOUNTANTS:

Barretts

Chartered Accountants &

Chartered Tax Advisers

22 Union Street

Newton Abbot

Devon

TQ12 2JS

FIXED ASSETS

Tangible assets

2

14,057

17,936

Investments

3

100

100

14,157

18,036

CURRENT ASSETS

Debtors

35,955

117,021

Prepayments and accrued income

2,854

2,978

Cash at bank

41,463

43,827

80,272

163,826

CREDITORS

Amounts falling due within one year

27,836

48,059

NET CURRENT ASSETS

52,436

115,767

TOTAL ASSETS LESS CURRENT LIABILITIES

66,593

133,803

CREDITORS

Amounts falling due after more than one year

-

(70,000

)

PROVISIONS FOR LIABILITIES

(1,774

)

-

NET ASSETS

64,819

63,803

CAPITAL AND RESERVES

Called up share capital

4

1,000

1,000

Profit and loss account

63,819

62,803

SHAREHOLDERS' FUNDS

64,819

63,803

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 22 February 2017 and were signed on its behalf by:

Dr J P Newall - Director

1.	ACCOUNTING POLICIES

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 January 2015).

Turnover

Turnover represents net invoiced commissions and commission due on

uninvoiced work as at the year end.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance, 20% on cost, 15% on reducing balance and 10% on cost

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.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2015

43,767

Additions

884

At 31 May 2016

44,651

DEPRECIATION

At 1 June 2015

25,831

Charge for year

4,763

At 31 May 2016

30,594

NET BOOK VALUE

At 31 May 2016

14,057

At 31 May 2015

17,936

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 June 2015

and 31 May 2016

100

NET BOOK VALUE

At 31 May 2016

100

At 31 May 2015

100

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

1,000

Ordinary

1

1,000

1,000