Abbreviated Company Accounts - 1512 DESIGN LIMITED

1512 DESIGN LIMITED - Company Information

08014402 1512 DESIGN LIMITED 2016-08-30 false 2015-09-01 2016-08-30 true 08014402 2015-09-01 2016-08-30 08014402 2016-08-30 08014402 2015-08-31 08014402 uk-gaap-cd-bus:Director1 2015-09-01 2016-08-30 08014402 uk-gaap-cd-bus:Director2 2015-09-01 2016-08-30 uk-gaap-cd-bus:OrdinaryShareClass1 2015-09-01 2016-08-30 uk-gaap-cd-bus:OrdinaryShareClass1 2016-08-30 uk-gaap-cd-bus:OrdinaryShareClass1 2015-08-31 iso4217:GBP shares

Registered Number 08014402

1512 DESIGN LIMITED

Abbreviated Accounts

30 August 2016

1512 DESIGN LIMITED Registered Number 08014402

Abbreviated Balance Sheet as at 30 August 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	488	198
		488	198
Current assets
Stocks		21,245	19,885
Debtors		88,176	76,689
Cash at bank and in hand		3,332	7,790
		112,753	104,364
Creditors: amounts falling due within one year	3	(134,919)	(104,192)
Net current assets (liabilities)		(22,166)	172
Total assets less current liabilities		(21,678)	370
Total net assets (liabilities)		(21,678)	370
Capital and reserves
Called up share capital	4	100	100
Profit and loss account		(21,778)	270
Shareholders' funds		(21,678)	370

For the year ending 30 August 2016 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 30 August 2017

And signed on their behalf by:
I W W Lee, Director

1512 DESIGN LIMITED Registered Number 08014402

Notes to the Abbreviated Accounts for the period ended 30 August 2016

1Accounting Policies

Basis of measurement and preparation of accounts
Basis of preparation

The accounts are prepared under the historical cost convention and the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents amounts receivable during the year net of VAT.

Depreciation of tangible fixed assets is provided on cost or valuation over their estimated useful lives. The annual rates and methods of depreciation are as follows:

Office equipment - 33% straight line basis

Stocks

Stock is valued at the lower of cost and net realisable value.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have origionated but not reversed by the balance sheet date. Deferred tax is not recognised when assets are revalued unless, by the balance sheet date, the company has entered into a binding agreement to sell the asset and recognised the gains or losses expected to arise on sale.

2Tangible fixed assets

	£
Cost
At 1 September 2015	394
Additions	584
Disposals	-
Revaluations	-
Transfers	-
At 30 August 2016	978
Depreciation
At 1 September 2015	196
Charge for the year	294
On disposals	-
At 30 August 2016	490
Net book values
At 30 August 2016	488
At 31 August 2015	198

3Creditors

	2016 £	2015 £
Secured Debts	117,900	49,527

4Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
100 Ordinary shares of £1 each	100	100