Solarwise Blinds Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06061237

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018

FOR

SOLARWISE BLINDS LTD

TRADING AS

FURNISHING WORKSHOP

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

M M Ibrahim

Mrs F Ibrahim

SECRETARY:

Mrs F Ibrahim

REGISTERED OFFICE:

Four Winds

13 Oak Avenue

Enfield

Middlesex

EN2 8LB

REGISTERED NUMBER:

06061237

ACCOUNTANTS:

Chris Skarparis & Co Ltd

Chartered Accountants

2nd Floor

10(b) Aldermans Hill

Palmers Green

London

N13 4PJ

FIXED ASSETS

Tangible assets

3

5,255

5,944

CURRENT ASSETS

Stocks

4

26,500

25,500

Debtors

5

6,547

13,482

Cash at bank

95

693

33,142

39,675

CREDITORS

Amounts falling due within one year

6

13,416

23,234

NET CURRENT ASSETS

19,726

16,441

TOTAL ASSETS LESS CURRENT LIABILITIES

24,981

22,385

PROVISIONS FOR LIABILITIES

7

701

1,125

NET ASSETS

24,280

21,260

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

24,278

21,258

SHAREHOLDERS' FUNDS

24,280

21,260

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

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

The directors acknowledge their 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.

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

The financial statements were approved by the Board of Directors on 27 June 2018 and were signed on its behalf by:

M M Ibrahim - Director

1.	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

-

25% on reducing balance and 20% 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Revenue recognition

Amounts due under contracts-not yet invoiced (work in progress) are valued at the recoverable standard value of

time charged by all personnel engaged in the provision of services. Revenue is recognised as the contracts

progress to reflect the company's partial performance of the contractual obligation. The amount of revenue

recognised reflects the accrual of the right for consideration as contract activity progresses by reference to the

value of work performed.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

3.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2017

34,284

Additions

1,033

At 31 March 2018

35,317

DEPRECIATION

At 1 April 2017

28,340

Charge for year

1,722

At 31 March 2018

30,062

NET BOOK VALUE

At 31 March 2018

5,255

At 31 March 2017

5,944

4.

STOCKS

31.3.18

31.3.17

£

£

Stocks

26,500

25,500

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade debtors

1,681

7,632

Amounts recoverable on contract

4,866

5,850

6,547

13,482

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Bank loans and overdrafts

2,881

3,337

Trade creditors

5,786

4,204

Tax

1,930

2,149

Social security and other taxes

-

168

VAT

1,668

2,706

Directors' current accounts

1,151

10,670

13,416

23,234

7.	PROVISIONS FOR LIABILITIES

31.3.18

31.3.17

£

£

Deferred tax

Accelerated capital allowances

701

1,125

Deferred

tax

£

Balance at 1 April 2017

1,125

Charged to Profit & Loss A/c

(424

)

Balance at 31 March 2018

701

8.	RELATED PARTY DISCLOSURES

During the year, total dividends of £5,000 were paid to the directors .

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Solarwise Blinds Ltd for the year ended 31 March 2018 which comprise the Income Statement,

Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's

accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Solarwise Blinds Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Solarwise Blinds Ltd and state those matters that we have agreed to state to the Board of Directors of Solarwise Blinds Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Solarwise Blinds Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Solarwise Blinds Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Solarwise Blinds Ltd. You consider that Solarwise Blinds Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Solarwise Blinds Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Chris Skarparis & Co Ltd

Chartered Accountants

2nd Floor

10(b) Aldermans Hill

Palmers Green

London

N13 4PJ

27 June 2018