Commercial Fashions Limited - Abbreviated accounts 16.3

Commercial Fashions Limited - Abbreviated accounts 16.3


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REGISTERED NUMBER: 04282176 (England and Wales)



















ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2016

FOR

COMMERCIAL FASHIONS LIMITED

COMMERCIAL FASHIONS LIMITED (REGISTERED NUMBER: 04282176)






CONTENTS OF THE ABBREVIATED ACCOUNTS
for the Year Ended 31 August 2016




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3

COMMERCIAL FASHIONS LIMITED

COMPANY INFORMATION
for the Year Ended 31 August 2016







DIRECTOR: Mr M Anwar



SECRETARY: Miss N Sardar



REGISTERED OFFICE: 8 Dalton Way
Priory Walk
Birmingham
West Midlands
B4 7LD



REGISTERED NUMBER: 04282176 (England and Wales)



ACCOUNTANTS: Brindleys Limited
2 Wheeleys Road
Edgbaston
Birmingham
West Midlands
B15 2LD



BANKERS: Lloyds TSB Bank Plc
32-34 Alcester Road South
Kings Heath
Birmingham
B14 7PU

COMMERCIAL FASHIONS LIMITED (REGISTERED NUMBER: 04282176)

ABBREVIATED BALANCE SHEET
31 August 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 2 - -
Tangible assets 3 8,963 10,146
8,963 10,146

CURRENT ASSETS
Stocks 254,688 208,400
Debtors 37,317 384
Cash at bank and in hand 79,964 173,762
371,969 382,546
CREDITORS
Amounts falling due within one year 80,394 157,062
NET CURRENT ASSETS 291,575 225,484
TOTAL ASSETS LESS CURRENT
LIABILITIES

300,538

235,630

CAPITAL AND RESERVES
Called up share capital 4 2 2
Profit and loss account 300,536 235,628
SHAREHOLDERS' FUNDS 300,538 235,630

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 31 October 2016 and were signed by:




Mr M Anwar - Director


COMMERCIAL FASHIONS LIMITED (REGISTERED NUMBER: 04282176)

NOTES TO THE ABBREVIATED ACCOUNTS
for the Year Ended 31 August 2016

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2001, is being amortised evenly over its estimated useful life of ten years.

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 etc - 15% on reducing balance

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the
period of the lease.

2. INTANGIBLE FIXED ASSETS
Total
£   
COST
At 1 September 2015
and 31 August 2016 10,000
AMORTISATION
At 1 September 2015
and 31 August 2016 10,000
NET BOOK VALUE

At 31 August 2016 -
At 31 August 2015 -

COMMERCIAL FASHIONS LIMITED (REGISTERED NUMBER: 04282176)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
for the Year Ended 31 August 2016

3. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 September 2015 23,749
Additions 399
At 31 August 2016 24,148
DEPRECIATION
At 1 September 2015 13,603
Charge for year 1,582
At 31 August 2016 15,185
NET BOOK VALUE
At 31 August 2016 8,963
At 31 August 2015 10,146

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2016 2015
value: £    £   
2 Ordinary 1 2 2

5. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Dividends of £60,000 (2015: £80,000) were to the shareholders of the company. Mr Mohammed Anwar is a
shareholder and also a director.