St Michaels Stores Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 07821416 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2016

FOR

ST MICHAELS STORES LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

J A Entwistle

Mrs E A Entwistle

REGISTERED OFFICE:

19 North Street

Ashford

England

Kent

TN24 8LF

REGISTERED NUMBER:

07821416 (England and Wales)

ACCOUNTANTS:

Calcutt Matthews

Chartered Accountants

19 North Street

Ashford

Kent

TN24 8LF

FIXED ASSETS

Tangible assets

2

104,475

46,417

CURRENT ASSETS

Stocks

35,000

35,000

Debtors

42,298

2,924

Cash at bank and in hand

4,173

5,560

81,471

43,484

CREDITORS

Amounts falling due within one year

47,720

36,717

NET CURRENT ASSETS

33,751

6,767

TOTAL ASSETS LESS CURRENT LIABILITIES

138,226

53,184

CREDITORS

Amounts falling due after more than one year

110,000

37,493

NET ASSETS

28,226

15,691

CAPITAL AND RESERVES

Called up share capital

3

1

1

Profit and loss account

28,225

15,690

SHAREHOLDERS' FUNDS

28,226

15,691

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 3 March 2017 and were signed on its behalf by:

Mrs E A Entwistle - 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

-

20% on cost

Fixtures and fittings

-

10% on cost

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2015

76,752

Additions

74,347

At 31 August 2016

151,099

DEPRECIATION

At 1 September 2015

30,335

Charge for year

16,289

At 31 August 2016

46,624

NET BOOK VALUE

At 31 August 2016

104,475

At 31 August 2015

46,417

3.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

31.8.16

31.8.15

value:

£

£

1

Share capital 1

£1

1

1