Abbreviated Company Accounts - J. SCHEMBRI & CO LTD

Abbreviated Company Accounts - J. SCHEMBRI & CO LTD

J. SCHEMBRI & CO LTD - Company Information

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Registered Number 04767293

J. SCHEMBRI & CO LTD

Abbreviated Accounts

30 June 2014

J. SCHEMBRI & CO LTD Registered Number 04767293

Abbreviated Balance Sheet as at 30 June 2014

Notes 2014 2013
£ £
Fixed assets
Intangible assets 2 30,000 30,000
Tangible assets 3 259 346
30,259 30,346
Current assets
Debtors 545 1,792
Cash at bank and in hand 23,100 12,653
23,645 14,445
Creditors: amounts falling due within one year (12,050) (8,118)
Net current assets (liabilities) 11,595 6,327
Total assets less current liabilities 41,854 36,673
Creditors: amounts falling due after more than one year (5,060) (2,464)
Total net assets (liabilities) 36,794 34,209
Capital and reserves
Called up share capital 2 2
Profit and loss account 36,792 34,207
Shareholders' funds 36,794 34,209
  • For the year ending 30 June 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • 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.

Approved by the Board on 17 September 2014

And signed on their behalf by:
Mr Joseph Schembri, Director

J. SCHEMBRI & CO LTD Registered Number 04767293

Notes to the Abbreviated Accounts for the period ended 30 June 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Tangible assets depreciation policy
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:
Plant and machinery 25%

Intangible assets amortisation policy
Goodwill
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 0 years.

2Intangible fixed assets
£
Cost
At 1 July 2013 30,000
Additions -
Disposals -
Revaluations -
Transfers -
At 30 June 2014 30,000
Amortisation
At 1 July 2013 0
Charge for the year -
On disposals -
At 30 June 2014 0
Net book values
At 30 June 2014 30,000
At 30 June 2013 30,000
3Tangible fixed assets
£
Cost
At 1 July 2013 2,271
Additions -
Disposals -
Revaluations -
Transfers -
At 30 June 2014 2,271
Depreciation
At 1 July 2013 1,925
Charge for the year 87
On disposals -
At 30 June 2014 2,012
Net book values
At 30 June 2014 259
At 30 June 2013 346