Classic Stitch Embroidery Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08716028 (England and Wales)

Financial Statements for the Year Ended 31 January 2018

for

Classic Stitch Embroidery Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs N Lal

REGISTERED OFFICE:

Winnington House

2 Woodberry Grove

North Finchley

London

N12 0DR

REGISTERED NUMBER:

08716028 (England and Wales)

ACCOUNTANTS:

Nielsens

Chartered Accountants

The Gatehouse

453 Cranbrook Road

Ilford

Essex

IG2 6EW

BANKERS:

HSBC

PO Box 33

Wolverhampton

West Midlands

WV1 1TE

FIXED ASSETS

Tangible assets

4

63,110

24,506

CURRENT ASSETS

Stocks

1,260

3,250

Debtors

32,297

12,917

Cash at bank and in hand

1,385

8,868

34,942

25,035

CREDITORS

Amounts falling due within one year

76,938

45,923

NET CURRENT LIABILITIES

(41,996

)

(20,888

)

TOTAL ASSETS LESS CURRENT LIABILITIES

21,114

3,618

CREDITORS

Amounts falling due after more than one year

20,237

-

NET ASSETS

877

3,618

CAPITAL AND RESERVES

Called up share capital

5

200

200

Retained earnings

677

3,418

SHAREHOLDERS' FUNDS

877

3,618

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 January 2018 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 17 August 2018 and were signed by:

Mrs N Lal - Director

1.	STATUTORY INFORMATION

Classic Stitch Embroidery Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2017 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 February 2017

30,683

Additions

45,020

At 31 January 2018

75,703

DEPRECIATION

At 1 February 2017

6,177

Charge for year

6,416

At 31 January 2018

12,593

NET BOOK VALUE

At 31 January 2018

63,110

At 31 January 2017

24,506

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.18

31.1.17

value:

£

£

200

Ordinary shares

£1

200

200

6.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mrs N Lal.