BEST_FOR_LESS_NAPPIES_LIM - Accounts

BEST FOR LESS NAPPIES LIMITED - Company Information

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Company Registration No. 05675525 (England and Wales)

BEST FOR LESS NAPPIES LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2014

BEST FOR LESS NAPPIES LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

BEST FOR LESS NAPPIES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 APRIL 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

5,202

6,957

Current assets

Stocks

38,143

22,581

Debtors

531,205

68,675

Cash at bank and in hand

24,579

292,323

593,927

383,579

Creditors: amounts falling due within one year

(117,528)

(50,463)

Net current assets

476,399

333,116

Total assets less current liabilities

481,601

340,073

Provisions for liabilities

(997)

(1,338)

480,604

338,735

Capital and reserves

Called up share capital

Profit and loss account

480,603

338,734

Shareholders' funds

480,604

338,735

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.

Director's responsibilities:

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his 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 29 January 2015

Z Patel

Director

Company Registration No. 05675525

BEST FOR LESS NAPPIES 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

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.3

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

33% straight line

Fixtures, fittings & equipment

33% straight line

Motor vehicles

25% reducing balance

1.4

Stock

Stock is valued at the lower of cost and net realisable value.

1.5

Deferred taxation

Deferred tax is recognised in respect of all timing differences which have originated but not reversed at the balance sheet date. Timing differences are differences between taxable profits and the results as stated in the financial statements which arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements.

Deferred tax is measured at the average tax rates which are expected to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws which have been enacted or substantively enacted by the balance sheet date. Deferred tax is measured on a non - discounted basis.

1.6

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

BEST FOR LESS NAPPIES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 APRIL 2014

- 3 -

Fixed assets

Tangible assets

Cost

At 1 May 2013

18,686

Additions

807

At 30 April 2014

19,493

Depreciation

At 1 May 2013

11,729

Charge for the year

2,562

At 30 April 2014

14,291

Net book value

At 30 April 2014

5,202

At 30 April 2013

6,957

Share capital

2014

2013

Allotted, called up and fully paid

1 Ordinary shares of £1 each