THE_SMALLS_LIMITED - Accounts

THE SMALLS LIMITED - Company Information

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Company Registration No. 05968558 (England and Wales)

THE SMALLS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2013

THE SMALLS LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

THE SMALLS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2013

- 1 -

2013

2012

Notes

Fixed assets

Tangible assets

4,695

998

Current assets

Debtors

23,707

7,383

Cash at bank and in hand

2,388

26,095

7,405

Creditors: amounts falling due within one year

(72,069)

(104,651)

Net current liabilities

(45,974)

(97,246)

Total assets less current liabilities

(41,279)

(96,248)

Creditors: amounts falling due after more than one year

(398,016)

(144,960)

(439,295)

(241,208)

Capital and reserves

Called up share capital

225

219

Share premium account

129,009

127,311

Profit and loss account

(568,529)

(368,738)

Shareholders' funds

(439,295)

(241,208)

For the financial year ended 31 December 2013 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 17 December 2014

A Grund

Director

Company Registration No. 05968558

THE SMALLS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2013

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

At the balance sheet date the company had net liabilities of £437,295 (2012 - £241,208). The company meets its day to day working capital requirements through the support of its creditors and shareholders. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

33.33% straight line

1.5

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

THE SMALLS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2013

- 3 -

Fixed assets

Tangible assets

Cost

At 1 January 2013

1,789

Additions

6,439

At 31 December 2013

8,228

Depreciation

At 1 January 2013

791

Charge for the year

2,742

At 31 December 2013

3,533

Net book value

At 31 December 2013

4,695

At 31 December 2012

998

Share capital

2013

2012

Allotted, called up and fully paid

22,500 Ordinary Shares of 1p each

225

219

During the year, 568 ordinary 1p shares were issues for a total consideration of £1,704.