Ravenshead Interiors Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 08301407 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 30 November 2016

for

Ravenshead Interiors Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mrs N J Whitsed

D L Whitsed

SECRETARY:

Mrs N J Whitsed

REGISTERED OFFICE:

31 Oakwood Drive

Ravenshead

Nottinghamshire

NG15 9DP

REGISTERED NUMBER:

08301407 (England and Wales)

ACCOUNTANTS:

Gregory Priestley & Stewart

16 Queen Street

Ilkeston

Derbyshire

DE7 5GT

FIXED ASSETS

Intangible assets

2

34,600

58,600

Tangible assets

3

13,139

16,840

47,739

75,440

CURRENT ASSETS

Stocks

12,740

15,470

Debtors

18,168

41,448

Cash at bank and in hand

82,292

68,561

113,200

125,479

CREDITORS

Amounts falling due within one year

4

161,061

164,922

NET CURRENT LIABILITIES

(47,861

)

(39,443

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(122

)

35,997

CREDITORS

Amounts falling due after more than one
year

4

(4,123

)

(8,246

)

PROVISIONS FOR LIABILITIES

(2,540

)

(3,368

)

NET (LIABILITIES)/ASSETS

(6,785

)

24,383

CAPITAL AND RESERVES

Called up share capital

5

100

Profit and loss account

(6,885

)

24,283

SHAREHOLDERS' FUNDS

(6,785

)

24,383

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 29 June 2017 and were signed on its behalf by:

D L Whitsed - 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

33% on reducing balance and 25% 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2015

and 30 November 2016

120,000

AMORTISATION

At 1 December 2015

61,400

Amortisation for year

24,000

At 30 November 2016

85,400

NET BOOK VALUE

At 30 November 2016

34,600

At 30 November 2015

58,600

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2015

26,298

Additions

808

At 30 November 2016

27,106

DEPRECIATION

At 1 December 2015

9,458

Charge for year

4,509

At 30 November 2016

13,967

NET BOOK VALUE

At 30 November 2016

13,139

At 30 November 2015

16,840

4.

CREDITORS

Creditors include an amount of £ 8,246 (30.11.15 - £ 12,369 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.11.16

30.11.15

value:

£

50

Ordinary A

1

50

Ordinary B

1

50

100