Cherub Antiques Limited - Filleted accounts

CHERUB TRADING LTD - Company Information

Cherub Antiques Limited
Registered number:		04560387
Balance Sheet
as at 30 September 2016

Notes			2016			2015
£				£
Current assets
Stocks		73,566			65,922
Debtors	3	380			-
Cash at bank and in hand		363			225
		74,309			66,147

Creditors: amounts falling due within one year	4	(102,736)			(96,398)

Net current liabilities			(28,427)			(30,251)

Net liabilities			(28,427)			(30,251)

Capital and reserves
Called up share capital			100			100
Profit and loss account			(28,527)			(30,351)

Shareholders' funds			(28,427)			(30,251)

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




S A Kim
Director
Approved by the board on 5 June 2017

Cherub Antiques Limited
Notes to the Accounts
for the year ended 30 September 2016


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.


2	Employees	2016		2015
Number			Number

	Average number of persons employed by the company	2		2


3	Debtors	2016		2015
£			£

	Other debtors	380		-


4	Creditors: amounts falling due within one year	2016		2015
£			£

	Other creditors	102,736		96,398


5	Other information

	Cherub Antiques Limited is a private company limited by shares and incorporated in England. Its registered office is:
	161 Malden Road
	New Malden
	Surrey
	KT3 6AA

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