Abbreviated Company Accounts - RASCAL ENTERPRISES LIMITED

RASCAL ENTERPRISES LIMITED - Company Information

Registered Number 07594486

RASCAL ENTERPRISES LIMITED

Abbreviated Accounts

30 April 2014

RASCAL ENTERPRISES LIMITED Registered Number 07594486

Abbreviated Balance Sheet as at 30 April 2014

	Notes	2014	2013
		£	£
Fixed assets
Intangible assets	2	14,000	16,000
Tangible assets	3	5,875	3,604
		19,875	19,604
Current assets
Debtors		84,024	45,871
Cash at bank and in hand		29,518	4,808
		113,542	50,679
Creditors: amounts falling due within one year		(74,416)	(66,966)
Net current assets (liabilities)		39,126	(16,287)
Total assets less current liabilities		59,001	3,317
Total net assets (liabilities)		59,001	3,317
Capital and reserves
Called up share capital		2	2
Profit and loss account		58,999	3,315
Shareholders' funds		59,001	3,317

For the year ending 30 April 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 16 January 2015

And signed on their behalf by:
Mr S Richards, Director

RASCAL ENTERPRISES LIMITED Registered Number 07594486

Notes to the Abbreviated Accounts for the period ended 30 April 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 represents amounts receivable for goods and services net of VAT and trade discounts

Tangible assets depreciation policy
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:
Fixtures, fittings & equipment 25% straight line

Intangible assets amortisation policy
Acquired goodwill is written off in equal annual installments over its estimated useful economic life of 10
years.

2Intangible fixed assets

	£
Cost
At 1 May 2013	20,000
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 30 April 2014	20,000
Amortisation
At 1 May 2013	4,000
Charge for the year	2,000
On disposals	-
At 30 April 2014	6,000
Net book values
At 30 April 2014	14,000
At 30 April 2013	16,000

3Tangible fixed assets

	£
Cost
At 1 May 2013	5,693
Additions	4,928
Disposals	-
Revaluations	-
Transfers	-
At 30 April 2014	10,621
Depreciation
At 1 May 2013	2,089
Charge for the year	2,657
On disposals	-
At 30 April 2014	4,746
Net book values
At 30 April 2014	5,875
At 30 April 2013	3,604