The Good Craft Shop Ltd - Filleted accounts

The Good Craft Shop Ltd - Filleted accounts

THE GOOD CRAFT SHOP LIMITED - Company Information

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Registered number
09644547
The Good Craft Shop Ltd
Filleted Accounts
30 June 2017
The Good Craft Shop Ltd
Registered number: 09644547
Balance Sheet
as at 30 June 2017
Notes 2017 2016
£ £
Current assets
Stocks 6,103 6,303
Cash at bank and in hand 1,742 1,934
7,845 8,237
Creditors: amounts falling due within one year 2 (10,336) (9,370)
Net current liabilities (2,491) (1,133)
Net liabilities (2,491) (1,133)
Capital and reserves
Called up share capital 3 3
Profit and loss account (2,494) (1,136)
Shareholders' funds (2,491) (1,133)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs Julie Goss
Director
Approved by the board on 4 February 2018
The Good Craft Shop Ltd
Notes to the Accounts
for the year ended 30 June 2017
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
2 Creditors: amounts falling due within one year 2017 2016
£ £
Accruals 1,308 654
Directors Account 9,028 8,716
10,336 9,370
3 Other information
The Good Craft Shop Ltd is a private company limited by shares and incorporated in England. Its registered office is:
8 Chestnut Grove
Hurstpierpoint
Hassocks
West Sussex
BN6 9SS
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