Punch 1 Boxing Sales Limited - Abbreviated accounts 16.3

Punch 1 Boxing Sales Limited - Abbreviated accounts 16.3

STUART CLENCH LTD - Company Information

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REGISTERED NUMBER: 07111946 (England and Wales)















ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

FOR

PUNCH 1 BOXING SALES LIMITED
G. George Associates Limited
Chartered Certified Accountants
12 Gateway Mews
Ring Way
London
N11 2UT








PUNCH 1 BOXING SALES LIMITED (REGISTERED NUMBER: 07111946)






CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 December 2015




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3

PUNCH 1 BOXING SALES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 December 2015







DIRECTOR: S Clench





REGISTERED OFFICE: 12 Gateway Mews
Ring Way
London
N11 2UT





REGISTERED NUMBER: 07111946 (England and Wales)





ACCOUNTANTS: G. George Associates Limited
Chartered Certified Accountants
12 Gateway Mews
Ring Way
London
N11 2UT
Page 1
PUNCH 1 BOXING SALES LIMITED (REGISTERED NUMBER: 07111946)

ABBREVIATED BALANCE SHEET
31 December 2015

31.12.15 31.12.14
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 7,488 8,733

CURRENT ASSETS
Stocks 15,725 19,975
Debtors 1,720 -
17,445 19,975
CREDITORS
Amounts falling due within one year 21,821 18,265
NET CURRENT (LIABILITIES)/ASSETS (4,376 ) 1,710
TOTAL ASSETS LESS CURRENT
LIABILITIES
3,112
10,443

CAPITAL AND RESERVES
Called up share capital 3 100 100
Profit and loss account 3,012 10,343
SHAREHOLDERS' FUNDS 3,112 10,443

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 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 20 March 2017 and were signed by:





S Clench - Director


The notes form part of these abbreviated accounts

Page 2
PUNCH 1 BOXING SALES LIMITED (REGISTERED NUMBER: 07111946)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 December 2015

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.

Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 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 January 2015 24,799
Additions 1,250
At 31 December 2015 26,049
DEPRECIATION
At 1 January 2015 16,066
Charge for year 2,495
At 31 December 2015 18,561
NET BOOK VALUE
At 31 December 2015 7,488
At 31 December 2014 8,733

3. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.15 31.12.14
value: £    £   
100 Ordinary £1 100 100

Page 3