STORWELL_LIMITED - Accounts

STORWELL LIMITED - Company Information

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Company Registration No. 06211969 (England and Wales)

STORWELL LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2014

STORWELL LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

STORWELL LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 APRIL 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

683

911

Current assets

Stocks

9,116

7,400

Debtors

5,777

2,465

Cash at bank and in hand

28,405

24,574

43,298

34,439

Creditors: amounts falling due within one year

(8,386)

(4,398)

Net current assets

34,912

30,041

Total assets less current liabilities

35,595

30,952

Capital and reserves

Called up share capital

100

Profit and loss account

35,495

30,852

Shareholders' funds

35,595

30,952

For the financial year ended 30 April 2014 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 5 January 2015

Mrs A L Wilson

Director

Company Registration No. 06211969

STORWELL LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2014

- 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).

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:

Plant and machinery

25% per annum reducing balance

1.5

Stock

Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Fixed assets

Tangible assets

Cost

At 1 May 2013 & at 30 April 2014

3,289

Depreciation

At 1 May 2013

2,378

Charge for the year

228

At 30 April 2014

2,606

Net book value

At 30 April 2014

683

At 30 April 2013

911

Share capital

2014

2013

Allotted, called up and fully paid

100 Ordinary of £1 each

100