THE_HIGHLAND_STORE_(GREAT - Accounts

THE HIGHLAND STORE (GREAT RUSSELL STREET) LTD - Company Information

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Company Registration No. 03511968 (England and Wales)

THE HIGHLAND STORE (GREAT RUSSELL STREET) LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2016

THE HIGHLAND STORE (GREAT RUSSELL STREET) LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

THE HIGHLAND STORE (GREAT RUSSELL STREET) LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 JULY 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

10,413

15,558

Current assets

Stocks

155,040

152,000

Debtors

71,155

89,285

Cash at bank and in hand

761,089

722,214

987,284

963,499

Creditors: amounts falling due within one year

(857,844)

(241,139)

Net current assets

129,440

722,360

Total assets less current liabilities

139,853

737,918

Capital and reserves

Called up share capital

2,000

Profit and loss account

137,853

735,918

Shareholders' funds

139,853

737,918

For the financial year ended 31 July 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 26 April 2017

Mr T Russell

Director

Company Registration No. 03511968

THE HIGHLAND STORE (GREAT RUSSELL STREET) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2016

- 2 -

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:

Land and buildings Leasehold

Over the term of lease

Fixtures, fittings & equipment

25% on reducing balance & 15% on reducing balance

1.5

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

Fixed assets

Tangible assets

Cost

At 1 August 2015 & at 31 July 2016

88,565

Depreciation

At 1 August 2015

73,007

Charge for the year

5,145

At 31 July 2016

78,152

Net book value

At 31 July 2016

10,413

At 31 July 2015

15,558

THE HIGHLAND STORE (GREAT RUSSELL STREET) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2016

- 3 -

Share capital

2016

2015

Allotted, called up and fully paid

2,000 Ordinary of £1 each

2,000