Stamford Yoga Limited Small abbreviated accounts

STAMFORD YOGA LIMITED - Company Information

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COMPANY REGISTRATION NUMBER 09160332

STAMFORD YOGA LIMITED

ABBREVIATED ACCOUNTS

31 August 2016

CRACKNELL & CO.

Chartered Management Accountants & Tax Advisors

Willoughby House

2 Broad Street

Stamford

Lincolnshire

PE9 1PB

STAMFORD YOGA LIMITED

ABBREVIATED BALANCE SHEET

31 August 2016

		2016		2015
Note		£	£	£
FIXED ASSETS	2
Tangible assets			1,542	3,082
			-------	-------

CURRENT ASSETS

Debtors	3,126		2,800
Cash at bank and in hand	17,848		4,419
	---------		-------
	20,974		7,219
CREDITORS: Amounts falling due within one year	19,338		8,816
	---------		-------
NET CURRENT ASSETS/(LIABILITIES)		1,636	( 1,597)
		-------	-------
TOTAL ASSETS LESS CURRENT LIABILITIES		3,178	1,485

PROVISIONS FOR LIABILITIES	308	616
	-------	-------
	2,870	869
	-------	-------

CAPITAL AND RESERVES

Called up equity share capital	4	100	100
Profit and loss account		2,770	769
		-------	----
SHAREHOLDERS' FUNDS		2,870	869
		-------	----

For the year ended 31 August 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 accounts for the year in question in accordance with section 476; and

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

These abbreviated accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.

These abbreviated accounts were approved and signed by the director and authorised for issue on 3 May 2017 .

Mr. M. Parr-Black Director

Company Registration Number: 09160332

STAMFORD YOGA LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

YEAR ENDED 31 AUGUST 2016

1. ACCOUNTING POLICIES

Basis of accounting

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

The turnover shown in the profit and loss account represents amounts invoiced during the year.

Fixed assets

All fixed assets are initially recorded at cost.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Fixtures & Fittings-33% Straight Line

Equipment-33% Straight Line

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Deferred taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions:

Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold.

Deferred tax assets are recognised only to the extent that the director considers that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Going concern

The accounts have been prepared on a going concern basis.

2. FIXED ASSETS

	Tangible Assets
	£

COST

At 1 September 2015 and 31 August 2016	4,624
	-------

DEPRECIATION

At 1 September 2015	1,542
Charge for year	1,540
	-------
At 31 August 2016	3,082
	-------

NET BOOK VALUE

At 31 August 2016	1,542
	-------

At 31 August 2015	3,082
	-------

3. DIRECTOR'S CURRENT ACCOUNTS

Movements on the director account during the year were as follows:

	Balance brought forward	Movement in year	Balance carried forward
	£	£	£
M. Parr-Black	1,131	6,483	7,614
	-------	-------	-------

4. SHARE CAPITAL

Allotted, called up and fully paid:

	2016		2015
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----

5. CONTROLLING PARTY

Throughout the current and previous year, M. Parr-Black, a director, has controlled the company by virtue of his shareholding.