Accounts filed on 30-04-2017

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			Company registration number:			03759351
BRIGHT NAILS LIMITED
REPORT OF THE DIRECTOR'S AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 April 2017

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BRIGHT NAILS LIMITED
BALANCE SHEET
AS AT 30 April 2017
					2017				2016
				Notes	£		£		£		£
FIXED ASSETS
Tangible assets				2			31,484				39,384
							31,484				39,384
CURRENT ASSETS
Stocks					271,939				286,676
Debtors					230,242				231,023
Cash at bank and in hand					55,790				137
					557,971				517,836
CREDITORS
Amounts falling due within one year					(103,013)				(149,472)
NET CURRENT ASSETS							454,958				368,364
TOTAL ASSETS LESS
CURRENT LIABILITIES							486,442				407,748
NET ASSETS							486,442				407,748
CAPITAL AND RESERVES
Called-up equity share capital							2				2
Profit and loss account							486,440				407,746
SHAREHOLDERS FUNDS							486,442				407,748
For the year ending 30 April 2017 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of the accounts.
All the members have consented to the preparation of abridged financial statements for the YEAR ended 30 April 2017 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. Approved by the board of directors on 6 June 2017 and signed on its behalf.
..........................................................................
K Willis
6 June 2017
The annexed notes form part of these financial statements.

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BRIGHT NAILS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2017

1.

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with the provisions of Section 1A 'Small entities' of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. There were no material departures from the standard.

Basis of preparing the financial statements

The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2015).

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Fixed Assets

Tangible fixed assets are stated at cost less depreciation Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant and Machinery - 20% per annum of cost

Motor Vehicles - 25% per annum of cost

Stocks and Work In Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2.	Tangible fixed assets
				Total
	Cost
	At start of period			84,070
	At end of period			84,070
	Depreciation
	At start of period			44,686
	Provided during the period			7,900
	At end of period			52,586
	Net Book Value
	At start of period			39,384
	At end of period			31,484

3.

Related Party Transactions

Ordinary dividends paid to directors in their capacity as shareholders during the year included £90,000 to K W Willis (2016 - £79,500). xx