Shotton Cycles Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 08169784 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 August 2016

for

Shotton Cycles Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

S J Connolly

SECRETARY:

REGISTERED OFFICE:

24 Chester Road East

Shotton

Deeside

Clwyd

CH5 1QA

REGISTERED NUMBER:

08169784 (England and Wales)

ACCOUNTANTS:

Peter J Gibbons CPFA

35 Whitelands Meadow

Upton

Wirral

CH49 6PA

FIXED ASSETS

Tangible assets

2

2,794

3,726

CURRENT ASSETS

Stocks

50,000

56,000

Cash at bank and in hand

11,043

13,423

61,043

69,423

CREDITORS

Amounts falling due within one year

19,245

25,902

NET CURRENT ASSETS

41,798

43,521

TOTAL ASSETS LESS CURRENT
LIABILITIES

44,592

47,247

CREDITORS

Amounts falling due after more than one
year

3

(33,000

)

(39,000

)

ACCRUALS AND DEFERRED INCOME

(900

)

(900

)

NET ASSETS

10,692

7,347

CAPITAL AND RESERVES

Called up share capital

4

10

Profit and loss account

10,682

7,337

SHAREHOLDERS' FUNDS

10,692

7,347

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 4 March 2017 and were signed by:

S J Connolly - 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 sales of goods, excluding value added tax.

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

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2015

and 31 August 2016

8,114

DEPRECIATION

At 1 September 2015

4,388

Charge for year

932

At 31 August 2016

5,320

NET BOOK VALUE

At 31 August 2016

2,794

At 31 August 2015

3,726

3.

CREDITORS

Creditors include the following debts falling due in more than five years:

31.8.16

31.8.15

£

Repayable by instalments

33,000

39,000

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.16

31.8.15

value:

£

10

Ordinary

£1

10