Poppy Signs Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 06403394 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 30 November 2016

for

POPPY SIGNS LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

Mr D McDonald

SECRETARY:

Ms V Massam

REGISTERED OFFICE:

41 St Thomas's Road

Chorley

Lancashire

PR7 1JE

REGISTERED NUMBER:

06403394 (England and Wales)

ACCOUNTANTS:

Abrams Ashton

Chartered Accountants

41 St Thomas's Road

Chorley

Lancashire

PR7 1JE

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

80,049

70,556

80,049

70,556

CURRENT ASSETS

Stocks

23,250

21,000

Debtors

78,699

71,667

Cash at bank and in hand

11,033

78

112,982

92,745

CREDITORS

Amounts falling due within one year

4

102,204

83,544

NET CURRENT ASSETS

10,778

9,201

TOTAL ASSETS LESS CURRENT LIABILITIES

90,827

79,757

CREDITORS

Amounts falling due after more than one year

4

(33,861

)

(41,978

)

PROVISIONS FOR LIABILITIES

(16,010

)

(14,111

)

NET ASSETS

40,956

23,668

CAPITAL AND RESERVES

Called up share capital

5

100

100

Profit and loss account

40,856

23,568

SHAREHOLDERS' FUNDS

40,956

23,668

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 11 April 2017 and were signed by:

Mr D McDonald - 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 is the value of goods and services (net of VAT) provided to customers during the accounting period.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

20% on reducing balance

Office equipment

-

25% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company makes payments to the employee's private pension plans. Contributions are charged to the profit

and loss account in the period to which they relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2015

and 30 November 2016

50,000

AMORTISATION

At 1 December 2015

and 30 November 2016

50,000

NET BOOK VALUE

At 30 November 2016

-

At 30 November 2015

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2015

111,223

Additions

24,439

At 30 November 2016

135,662

DEPRECIATION

At 1 December 2015

40,667

Charge for year

14,946

At 30 November 2016

55,613

NET BOOK VALUE

At 30 November 2016

80,049

At 30 November 2015

70,556

4.

CREDITORS

Creditors include an amount of £ 52,173 (30.11.15 - £ 44,721 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.11.16

30.11.15

value:

£

£

100

Ordinary

£1

100

100