Edwards Opticians (Yorkshire) Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 08324994 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2016

FOR

EDWARDS OPTICIANS (YORKSHIRE) LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

P Shoebridge

E Shoebridge

M Shoebridge

REGISTERED OFFICE:

178 Anlaby Park Road South

Hull

Humberside

HU4 7BU

REGISTERED NUMBER:

08324994 (England and Wales)

ACCOUNTANTS:

Bradbury & Co (Accountants) Limited

34 Middle Street South

Driffield

East Yorkshire

YO25 6PS

FIXED ASSETS

Intangible assets

2

20,000

30,000

Tangible assets

3

9,802

11,532

29,802

41,532

CURRENT ASSETS

Stocks

8,000

Debtors

14,927

20,551

Cash at bank and in hand

2,537

4,410

25,464

32,961

CREDITORS

Amounts falling due within one year

(74,334

)

(83,451

)

NET CURRENT LIABILITIES

(48,870

)

(50,490

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(19,068

)

(8,958

)

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

(19,168

)

(9,058

)

SHAREHOLDERS' FUNDS

(19,068

)

(8,958

)

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

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

M Shoebridge - 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).

The directors will continue to provide the company with any such funding as is required to enable the

company to meet all of its debts and liabilities as they fall due. Such support will include not seeking

repayment of funds provided to the company by the directors and providing additional cash funding and

support for bank borrowing and other finance facilities as required.

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.

Fixtures and fittings

- 15% 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

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis

over the period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2015

and 31 July 2016

50,000

AMORTISATION

At 1 August 2015

20,000

Amortisation for year

10,000

At 31 July 2016

30,000

NET BOOK VALUE

At 31 July 2016

20,000

At 31 July 2015

30,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2015

and 31 July 2016

15,963

DEPRECIATION

At 1 August 2015

4,431

Charge for year

1,730

At 31 July 2016

6,161

NET BOOK VALUE

At 31 July 2016

9,802

At 31 July 2015

11,532

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

50

Ordinary A

£1

50

Ordinary B

£1

50

100

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2016 and

31 July 2015:

2016

2015

£

P Shoebridge and E Shoebridge

Balance outstanding at start of year

6,258

2,813

Amounts advanced

148,218

26,058

Amounts repaid

(140,128

)

(22,613

)

Balance outstanding at end of year

14,348

6,258