RIGHTMARTS LIMITED - Abbreviated accounts 16.3

REGISTERED NUMBER: 02412190 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2016

FOR

RIGHTMARTS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

M Patel

Mrs R Patel

P Patel

SECRETARY:

P Patel

REGISTERED OFFICE:

10 South Cottage Drive

Chorletwood

Hertfordshire

WD3 5EB

REGISTERED NUMBER:

02412190 (England and Wales)

ACCOUNTANTS:

Y P Associates

Chartered Certified Accountants

6 The Fairway

Wembley

Middlesex

HA0 3LH

FIXED ASSETS

Intangible assets

2

1

Tangible assets

3

3,700

9,842

3,701

9,843

CURRENT ASSETS

Stocks

12,000

24,000

Debtors

37,900

15,410

Cash at bank and in hand

5,934

14,903

55,834

54,313

CREDITORS

Amounts falling due within one year

36,422

45,049

NET CURRENT ASSETS

19,412

9,264

TOTAL ASSETS LESS CURRENT
LIABILITIES

23,113

19,107

CREDITORS

Amounts falling due after more than
one year

205,917

179,389

NET LIABILITIES

(182,804

)

(160,282

)

CAPITAL AND RESERVES

Called up share capital

4

100

Share premium

134,900

Profit and loss account

(317,804

)

(295,282

)

SHAREHOLDERS' FUNDS

(182,804

)

(160,282

)

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 26 July 2017 and were
signed on its behalf by:

M Patel - 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 has been fully written off.

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 reducing balance and 20% 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.

Operating leases

The rentals on operating leases are charged to profit and loss account on a payable basis.

Going concern

The accounts have been prepared on a going concern basis , the validity of which is

dependent on the continuing support of the company's bankers and creditors. In the

absence of such support the going concern basis would be invalid and provisions would

have to be made for any losses on realisation of the company's assets that might arise.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2015

and 31 October 2016

104,318

AMORTISATION

At 1 November 2015

and 31 October 2016

104,317

NET BOOK VALUE

At 31 October 2016

1

At 31 October 2015

1

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2015

and 31 October 2016

187,852

DEPRECIATION

At 1 November 2015

178,010

Charge for year

6,142

At 31 October 2016

184,152

NET BOOK VALUE

At 31 October 2016

3,700

At 31 October 2015

9,842

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100

Ordinary

100