THE_PICTURE_BOOK_STUDIO_L - Accounts

THE PICTURE BOOK STUDIO LIMITED - Company Information

Print Friendly Version

Company Registration No. 07010033 (England and Wales)

THE PICTURE BOOK STUDIO LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2016

THE PICTURE BOOK STUDIO LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

THE PICTURE BOOK STUDIO LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 SEPTEMBER 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

12,072

14,360

Current assets

Stocks

1,250

Debtors

666

1,091

Cash at bank and in hand

41,673

27,372

43,589

28,463

Creditors: amounts falling due within one year

(52,870)

(31,963)

Net current liabilities

(9,281)

(3,500)

Total assets less current liabilities

2,791

10,860

Creditors: amounts falling due after more than one year

(1,304)

Provisions for liabilities

(2,334)

1,487

8,526

Capital and reserves

Called up share capital

Profit and loss account

1,486

8,525

Shareholders' funds

1,487

8,526

THE PICTURE BOOK STUDIO LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

30 SEPTEMBER 2016

- 2 -

For the financial year ended 30 September 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 12 April 2017

Mr J P Regan

Director

Company Registration No. 07010033

THE PICTURE BOOK STUDIO LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2016

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings and equipment

33% straight line

1.5

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

Fixed assets

Tangible assets

Cost

At 1 October 2015

32,114

Additions

7,611

Disposals

(2,600)

At 30 September 2016

37,125

Depreciation

At 1 October 2015

17,754

On disposals

(2,600)

Charge for the year

9,899

At 30 September 2016

25,053

Net book value

At 30 September 2016

12,072

At 30 September 2015

14,360

THE PICTURE BOOK STUDIO LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2016

- 4 -

Share capital

2016

2015

Allotted, called up and fully paid

1 ordinary of £1 each