Swan Jewellery Company Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 07608485 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 August 2016

for

Swan Jewellery Company Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mrs V Nilsson

M Nilsson

REGISTERED OFFICE:

179 High Street

Northallerton

North Yorkshire

DL7 8JZ

REGISTERED NUMBER:

07608485 (England and Wales)

ACCOUNTANTS:

Inspire Chartered Accountants

6 Queens Court

Third Avenue

Team Valley

Gateshead

Tyne and Wear

NE11 0BU

FIXED ASSETS

Intangible assets

2

-

30,000

Tangible assets

3

72,908

72,542

Investments

4

4,000

4,000

76,908

106,542

CURRENT ASSETS

Stocks

135,419

137,706

Cash in hand

3,299

5,118

138,718

142,824

CREDITORS

Amounts falling due within one year

5

165,773

205,511

NET CURRENT LIABILITIES

(27,055

)

(62,687

)

TOTAL ASSETS LESS CURRENT LIABILITIES

49,853

43,855

CAPITAL AND RESERVES

Called up share capital

6

100

100

Profit and loss account

49,753

43,755

SHAREHOLDERS' FUNDS

49,853

43,855

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 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 16 November 2016 and were signed on its behalf by:

M Nilsson - 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

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

Fixtures and fittings

-

15% 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.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2015

and 31 August 2016

150,000

AMORTISATION

At 1 September 2015

120,000

Amortisation for year

30,000

At 31 August 2016

150,000

NET BOOK VALUE

At 31 August 2016

-

At 31 August 2015

30,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2015

76,477

Additions

1,415

At 31 August 2016

77,892

DEPRECIATION

At 1 September 2015

3,935

Charge for year

1,049

At 31 August 2016

4,984

NET BOOK VALUE

At 31 August 2016

72,908

At 31 August 2015

72,542

4.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 September 2015

and 31 August 2016

4,000

NET BOOK VALUE

At 31 August 2016

4,000

At 31 August 2015

4,000

5.

CREDITORS

Creditors include an amount of £ 45,795 (31.8.15 - £ 49,947 ) for which security has been given.

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.16

31.8.15

value:

£

£

95

A Ordinary Shares

£1

95

95

5

B Ordinary shares

£1

5

5

100

100

A and B Ordinary shares carry varying dividend rights.