OMG Heels Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 07356085 (England and Wales)

OMG Heels Limited

Abbreviated Accounts for the Year Ended 31st August 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Directors:

D Elliott

E S J Pettman

Registered office:

151-153 Shoreditch High Street

Shoreditch

London

Greater London

E1 6HU

Registered number:

07356085 (England and Wales)

Accountants:

Walters & Company

Certified Practising Accountants

1-3 High Street

Great Dunmow

Essex

CM6 1UU

Fixed assets

Intangible assets

2

16,614

16,049

Tangible assets

3

1,021

2,043

17,635

18,092

Current assets

Stocks

27,900

28,087

Cash at bank

357

969

28,257

29,056

Creditors

Amounts falling due within one year

72,321

70,821

Net current liabilities

(44,064

)

(41,765

)

Total assets less current liabilities

(26,429

)

(23,673

)

Capital and reserves

Called up share capital

4

1

Profit and loss account

(26,430

)

(23,674

)

Shareholders' funds

(26,429

)

(23,673

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 18th May 2017 and were signed on its
behalf by:

E S J Pettman - 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

-

25% on cost

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.	Intangible fixed assets

Total

£

Cost

At 1st September 2015

16,049

Additions

565

At 31st August 2016

16,614

Net book value

At 31st August 2016

16,614

At 31st August 2015

16,049

3.	Tangible fixed assets

Total

£

Cost

At 1st September 2015

and 31st August 2016

4,085

Depreciation

At 1st September 2015

2,042

Charge for year

1,022

At 31st August 2016

3,064

Net book value

At 31st August 2016

1,021

At 31st August 2015

2,043

4.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/8/16

31/8/15

value:

£

1

Ordinary

£1

1