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Private Limited Company
05152887
2014-03-31
05152887
2013-04-01
2014-03-31
05152887
2013-03-31
05152887
2012-04-01
2013-03-31
05152887
uk-bus:Director1
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05152887
uk-gaap:Buildings
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05152887
uk-gaap:PlantMachinery
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iso4217:GBP
For the year ended 31 March 2014
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 05152887
2
Isles & Storer Limited
For the year ended 31 March 2014
1
Accountant's Report
2
Balance Sheet
3 to 5
Notes to the Abbreviated Financial Statements
3
Isles & Storer Limited
Accountant's Report
For the year ended 31 March 2014
| As described on the balance sheet you are responsible for the preparation of the financial statements for the year |
| ended 31 March 2014 and you consider that the company is exempt from an audit under the Companies Act 2006. |
| In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you |
| to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us. |
Isles & Storer Limited
Bank House
129 High Street
Needham Market
Suffolk
IP6 8DH
1 of 5
4
| Abbreviated Balance Sheet |
Isles & Storer Limited
2014
2013
2
175,408
201,834
3
13,759
14,109
189,167
215,943
16,087
16,087
111,386
110,497
5,886
14,548
132,470
142,021
| Creditors: amounts falling due within one year |
(197,680)
(154,844)
(55,659)
(22,374)
Net current liabilities
| Total assets less current liabilities |
166,793
160,284
(2,018)
(1,468)
| Provisions for liabilities |
164,775
Net assets
158,816
99
4
99
164,676
158,717
164,775
158,816
Shareholders funds
| For the year ended 31 March 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. |
| Directors responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; |
| 2) 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. |
| Date approved by the board: 06 November 2014 |
| Mr Anthony Storer Director |
| Signed on behalf of the board of directors |
2 of 5
5
| Notes to the Abbreviated Financial Statements |
Isles & Storer Limited
For the year ended 31 March 2014
| The financial statements are prepared under the historical cost convention, as modified by the revaluation of certain fixed assets, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). |
| Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. |
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
| Finance lease and hire purchase charges |
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
| The company operates a defined contribution pension scheme for the benefit of its directors/and employees. |
| Contributions payable are charged to the profit and loss account in the period in which they are payable. |
| Deferred taxation arises when items are charged or credited in accounts in different periods to those in which they are included in the company's tax computations.Deferred tax is provided in full on timing differences that result in an obligation to pay more (or less) tax at a future date. Deferred tax is calculated at the average rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The resulting deferred tax asset or liability is not discounted. |
| Proposed dividends are only included as liabilities in the financial statements when their payment has been approved |
| by the shareholders prior to the balance sheet date. |
| Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable. |
| Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the |
| estimated expected useful economic life of the goodwill of 10 years. |
3 of 5
6
| Notes to the Abbreviated Financial Statements |
Isles & Storer Limited
For the year ended 31 March 2014
| Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. 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 basis: |
Land and Buildings
Plant and Machinery
| 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 items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. |
| 2 Intangible fixed assets |
264,260
264,260
62,426
26,426
Charge for year
88,852
175,408
201,834
28,815
2,319
31,134
14,706
2,669
Charge for year
17,375
13,759
14,109
4 of 5
7
| Notes to the Abbreviated Financial Statements |
Isles & Storer Limited
For the year ended 31 March 2014
| Allotted called up and fully paid |
2014
2013
| 99 Ordinary shares of £1.00 each |
99
99
99
99
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