Abbreviated Company Accounts - 1ST FOR FABRICS LTD

1ST FOR FABRICS LTD - Company Information

Registered Number 04903507

1ST FOR FABRICS LTD

Abbreviated Accounts

31 March 2014

1ST FOR FABRICS LTD Registered Number 04903507

Abbreviated Balance Sheet as at 31 March 2014

	Notes	2014	2013
		£	£
Fixed assets
Intangible assets	2	31,000	31,000
Tangible assets	3	41,564	48,603
		72,564	79,603
Current assets
Stocks		62,100	59,200
Debtors		2,283	2,340
Cash at bank and in hand		63,865	37,876
		128,248	99,416
Creditors: amounts falling due within one year		(95,140)	(108,153)
Net current assets (liabilities)		33,108	(8,737)
Total assets less current liabilities		105,672	70,866
Provisions for liabilities		(8,313)	(9,721)
Total net assets (liabilities)		97,359	61,145
Capital and reserves
Called up share capital		100	100
Profit and loss account		97,259	61,045
Shareholders' funds		97,359	61,145

For the year ending 31 March 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 17 November 2014

And signed on their behalf by:
B Sherburn, Director

1ST FOR FABRICS LTD Registered Number 04903507

Notes to the Abbreviated Accounts for the period ended 31 March 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

Tangible assets depreciation policy
Depreciation has been provided at the following rates in order to write off assets over their estimated useful lives.

2Intangible fixed assets

	£
Cost
At 1 April 2013	31,000
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2014	31,000
Amortisation
At 1 April 2013	-
Charge for the year	-
On disposals	-
At 31 March 2014	-
Net book values
At 31 March 2014	31,000
At 31 March 2013	31,000

3Tangible fixed assets

	£
Cost
At 1 April 2013	73,097
Additions	2,722
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2014	75,819
Depreciation
At 1 April 2013	24,494
Charge for the year	9,761
On disposals	-
At 31 March 2014	34,255
Net book values
At 31 March 2014	41,564
At 31 March 2013	48,603

Motor Vehicle 25% reducing balance
Fixtures & Fittings 15% reducing balance