Sheldon Inns Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 08139867 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 July 2016

for

SHELDON INNS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

M Cartwright

REGISTERED OFFICE:

51 Clarkegrove Road

Sheffield

South Yorkshire

S10 2NH

REGISTERED NUMBER:

08139867 (England and Wales)

ACCOUNTANTS:

Brown McLeod Limited

Chartered Accountants

51 Clarkegrove Road

Sheffield

South Yorkshire

S10 2NH

FIXED ASSETS

Tangible assets

2

122,069

109,932

CURRENT ASSETS

Stocks

112,029

136,719

Debtors

121,283

68,416

Cash at bank and in hand

116,847

111,701

350,159

316,836

CREDITORS

Amounts falling due within one year

350,017

310,885

NET CURRENT ASSETS

142

5,951

TOTAL ASSETS LESS CURRENT
LIABILITIES

122,211

115,883

CAPITAL AND RESERVES

Called up share capital

3

100

Profit and loss account

122,111

115,783

SHAREHOLDERS' FUNDS

122,211

115,883

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2016 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 19 April 2017 and were signed by:

M Cartwright - 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 reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% 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 August 2015

143,750

Additions

44,297

At 31 July 2016

188,047

DEPRECIATION

At 1 August 2015

33,818

Charge for year

32,160

At 31 July 2016

65,978

NET BOOK VALUE

At 31 July 2016

122,069

At 31 July 2015

109,932

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.16

31.7.15

value:

£

60

Ordinary A

£1

60

40

Ordinary B

£1

40

100