| Shaun Noyes Furniture Ltd |
|
| Chartered Accountants' report to the board of directors on the preparation of the unaudited abbreviated accounts of Shaun Noyes Furniture Ltd for the year ended 30 June 2016 |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of Shaun Noyes Furniture Ltd for the year ended 30 June 2016 which comprise of the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook. |
| This report is made solely to the Board of Directors of Shaun Noyes Furniture Ltd, as a body, in accordance with the terms of our engagement letter dated 24 September 2014. Our work has been undertaken solely to prepare for your approval the accounts of Shaun Noyes Furniture Ltd and state those matters that we have agreed to state to the Board of Directors of Shaun Noyes Furniture Ltd, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Shaun Noyes Furniture Ltd and its Board of Directors as a body for our work or for this report. |
| It is your duty to ensure that Shaun Noyes Furniture Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Shaun Noyes Furniture Ltd. You consider that Shaun Noyes Furniture Ltd is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the accounts of Shaun Noyes Furniture Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the abbreviated accounts. |
|
| Barrett Accounting and Tax Services |
| Chartered Accountants |
| 1 Ellis Barn |
| The Old Dairy |
| Badbury |
| Swindon |
| SN4 0EU |
|
| 28 March 2017 |
|
| Shaun Noyes Furniture Ltd |
| Registered number: |
08083867 |
| Abbreviated Balance Sheet |
| as at 30 June 2016 |
|
| Notes |
|
|
2016 |
|
|
2015 |
| £ |
£ |
|
| Fixed assets |
| Intangible assets |
2 |
|
|
3,000 |
|
|
3,500 |
| Tangible assets |
3 |
|
|
4,987 |
|
|
7,481 |
|
|
|
|
7,987 |
|
|
10,981 |
|
| Current assets |
| Stocks |
|
|
300 |
|
|
300 |
| Debtors |
|
|
8,644 |
|
|
2,361 |
| Cash at bank and in hand |
|
|
1,132 |
|
|
1,645 |
|
|
|
10,076 |
|
|
4,306 |
|
| Creditors: amounts falling due within one year |
|
|
(11,588) |
|
|
(7,113) |
|
| Net current liabilities |
|
|
|
(1,512) |
|
|
(2,807) |
|
| Total assets less current liabilities |
|
|
|
6,475 |
|
|
8,174 |
|
| Creditors: amounts falling due after more than one year |
|
|
|
(5,119) |
|
|
(6,861) |
|
| Provisions for liabilities |
|
|
|
(984) |
|
|
(824) |
|
| Net assets |
|
|
|
372 |
|
|
489 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
4 |
|
|
2 |
|
|
2 |
| Profit and loss account |
|
|
|
370 |
|
|
487 |
|
| Shareholder's funds |
|
|
|
372 |
|
|
489 |
|
|
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
| Mr S N Noyes |
| Director |
| Approved by the board on 28 March 2017 |
|
| Shaun Noyes Furniture Ltd |
| Notes to the Abbreviated Accounts |
| for the year ended 30 June 2016 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts 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 the value, net of value added tax, of goods provided to customers and work carried out in respect of services provided to customers during the period. |
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Motor vehicles |
25% straight line |
|
|
Stocks |
|
Stock and work in progress is valued at the lower of cost and net realisable value. |
|
|
Deferred taxation |
|
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. |
|
|
Leasing and hire purchase commitments |
|
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.
The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.
Rentals paid under operating leases are charged to income on a straight line basis over the lease term. |
|
|
|
| 2 |
Intangible fixed assets |
£ |
|
|
Cost |
|
At 1 July 2015 |
5,000 |
|
At 30 June 2016 |
5,000 |
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 July 2015 |
1,500 |
|
Provided during the year |
500 |
|
At 30 June 2016 |
2,000 |
|
|
|
|
|
|
|
|
Net book value |
|
At 30 June 2016 |
3,000 |
|
At 30 June 2015 |
3,500 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 July 2015 |
9,975 |
|
At 30 June 2016 |
9,975 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 July 2015 |
2,494 |
|
Charge for the year |
2,494 |
|
At 30 June 2016 |
4,988 |
|
|
|
|
|
|
|
|
Net book value |
|
At 30 June 2016 |
4,987 |
|
At 30 June 2015 |
7,481 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Share capital |
Nominal |
|
2016 |
|
2016 |
|
2015 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
2 |
|
2 |
|
2 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Loans to directors |
|
Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
| £ |
£ |
£ |
£ |
|
Mr S N Noyes |
|
Expense account |
(328) |
|
428 |
|
(208) |
|
(108) |
|
Loan account |
- |
|
3,500 |
|
- |
|
3,500 |
|
|
(328) |
|
3,928 |
|
(208) |
|
3,392 |
|
|
|
|
|
|
|
|
|
|
The loan accounts are interest free and repayable on demand. The expense account includes an amount of £208 (2015 - £208) paid to the director for the use of a home at his office during the period. |
