The Online Bead Company Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 05965529 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 October 2016

for

The Online Bead Company Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Mrs L A Cope

I N Cope

SECRETARY:

Mrs L A Cope

REGISTERED OFFICE:

Rose Park

Broadmoor

Kilgetty

Pembrokeshire

SA68 0RY

REGISTERED NUMBER:

05965529 (England and Wales)

ACCOUNTANT:

Lucy Jones Chartered Accountant

85 Queen Street

Pembroke Dock

Pembrokeshire

SA72 6JE

CURRENT ASSETS

Stocks

10,000

11,500

Cash at bank

7

169

10,007

11,669

CREDITORS

Amounts falling due within one year

302

275

NET CURRENT ASSETS

9,705

11,394

TOTAL ASSETS LESS CURRENT
LIABILITIES

9,705

11,394

CREDITORS

Amounts falling due after more than one
year

35,605

31,207

NET LIABILITIES

(25,900

)

(19,813

)

CAPITAL AND RESERVES

Called up share capital

3

2

Profit and loss account

(25,902

)

(19,815

)

SHAREHOLDERS' FUNDS

(25,900

)

(19,813

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 21 July 2017 and were signed on its behalf by:

Mrs L A Cope - 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 etc

-

25% on cost and 20% 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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2015

and 31 October 2016

3,060

DEPRECIATION

At 1 November 2015

and 31 October 2016

3,060

NET BOOK VALUE

At 31 October 2016

-

At 31 October 2015

-

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.16

31.10.15

value:

£

2

Ordinary

£1

2

4.	GOING CONCERN

The company is a going concern due to the support of the directors who are owed £35,605 (2015 - £31,207) by

the company at the balance sheet date. No date has been set for repayment of the loan and no interest is being

charged.