Shoesissima Limited - Period Ending 2016-06-30

Registration number: 07679315

Shoesissima Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 June 2016
 

Shoesissima Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Shoesissima Limited
(Registration number: 07679315)
Abbreviated Balance Sheet at 30 June 2016

		Note			2016 £			2015 £
Current assets
Stocks					7,000			15,000
Debtors					262			319
Cash at bank and in hand					2,305			4,958
					9,567			20,277
Creditors: Amounts falling due within one year					(59,361)			(62,291)
Net liabilities					(49,794)			(42,014)
Capital and reserves
Called up share capital		2			25,000			25,000
Profit and loss account					(74,794)			(67,014)
Shareholders' deficit					(49,794)			(42,014)

For the year ending 30 June 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 30 March 2017

.........................................
Ms Judith Milling
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Shoesissima Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
ordinary of £1 each		10,000			10,000			10,000			10,000

3	Related party transactions

Director's advances and credits

	2016 Advance/ Credit £	2016 Repaid £	2015 Advance/ Credit £	2015 Repaid £
Ms Judith Milling
Directors loan account	(1,600)	-	(3,600)	-

Page 2

Shoesissima Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2016
......... continued

4

Control

The company is controlled by the director who owns 80% of the called up share capital.

Page 3