Abbreviated Company Accounts - SNOWFIT LIMITED

03538515 SNOWFIT LIMITED 2016-04-30 false 2015-05-01 2016-04-30 true 03538515 2015-05-01 2016-04-30 03538515 2016-04-30 03538515 2015-04-30 03538515 uk-gaap-cd-bus:Director1 2015-05-01 2016-04-30 03538515 uk-gaap-cd-bus:Director2 2015-05-01 2016-04-30 uk-gaap-cd-bus:OrdinaryShareClass1 2015-05-01 2016-04-30 uk-gaap-cd-bus:OrdinaryShareClass1 2016-04-30 uk-gaap-cd-bus:OrdinaryShareClass1 2015-04-30 iso4217:GBP shares

Registered Number 03538515

SNOWFIT LIMITED

Abbreviated Accounts

30 April 2016

SNOWFIT LIMITED Registered Number 03538515

Abbreviated Balance Sheet as at 30 April 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	26,398	35,669
		26,398	35,669
Current assets
Stocks		523,834	516,471
Debtors		14,082	2,341
Cash at bank and in hand		84	1,034
		538,000	519,846
Creditors: amounts falling due within one year		(338,470)	(327,433)
Net current assets (liabilities)		199,530	192,413
Total assets less current liabilities		225,928	228,082
Creditors: amounts falling due after more than one year		(87,293)	(93,084)
Total net assets (liabilities)		138,635	134,998
Capital and reserves
Called up share capital	3	19,900	19,900
Share premium account		42,186	42,186
Profit and loss account		76,549	72,912
Shareholders' funds		138,635	134,998

For the year ending 30 April 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 directors acknowledge their 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 Board on 28 April 2017

And signed on their behalf by:
J R Sturgess, Director

SNOWFIT LIMITED Registered Number 03538515

Notes to the Abbreviated Accounts for the period ended 30 April 2016

1Accounting Policies

Basis of measurement and preparation of accounts
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 policy
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers

Tangible assets depreciation policy
Leasehold property improvements 20% straight line
Computer equipment 25% straight line
Fixture and fittings 25% straight line
Furniture and equipment 25% reducing balance
Motor vehicles 25% reducing balance
Motor vehicle under finance lease 25% straight line

Valuation information and policy
Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Other accounting policies
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 capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

2Tangible fixed assets

	£
Cost
At 1 May 2015	92,240
Additions	4,500
Disposals	-
Revaluations	-
Transfers	-
At 30 April 2016	96,740
Depreciation
At 1 May 2015	56,571
Charge for the year	13,771
On disposals	-
At 30 April 2016	70,342
Net book values
At 30 April 2016	26,398
At 30 April 2015	35,669

3Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
19,900 Ordinary shares of £1 each	19,900	19,900