Nails 17 Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 04841300 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31ST AUGUST 2016

FOR

NAILS 17 LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

Mrs M Irish

REGISTERED OFFICE:

6 Roman Terrace

Leeds

West Yorkshire

LS8 2DU

REGISTERED NUMBER:

04841300 (England and Wales)

ACCOUNTANTS:

Hansons

St Oswald House

St Oswald Street

Castleford

West Yorkshire

WF10 1DH

FIXED ASSETS

Tangible assets

2

109,123

117,007

CURRENT ASSETS

Debtors

1,181

-

Cash at bank

86

4,915

1,267

4,915

CREDITORS

Amounts falling due within one year

3

30,865

42,782

NET CURRENT LIABILITIES

(29,598

)

(37,867

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

79,525

79,140

CREDITORS

Amounts falling due after more than one
year

3

62,022

73,946

NET ASSETS

17,503

5,194

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

17,403

5,094

SHAREHOLDERS' FUNDS

17,503

5,194

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 director acknowledges her 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 30th May 2017 and were signed by:

Mrs M Irish - 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.

Land and buildings

-

2% on cost

Plant and machinery etc

-

25% on reducing balance

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.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st September 2015

170,543

Disposals

(6,223

)

At 31st August 2016

164,320

DEPRECIATION

At 1st September 2015

53,536

Charge for year

5,259

Eliminated on disposal

(3,598

)

At 31st August 2016

55,197

NET BOOK VALUE

At 31st August 2016

109,123

At 31st August 2015

117,007

3.

CREDITORS

Creditors include an amount of £ 72,175 for which security has been given.

They also include the following debts falling due in more than five years:

2016

2015

£

Repayable by instalments

23,503

-

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100

Ordinary

1

100