FINESSE_CARPETS_LIMITED - Accounts

FINESSE CARPETS LIMITED - Company Information

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Company Registration No. 04388832 (England and Wales)

FINESSE CARPETS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2014

FINESSE CARPETS LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

FINESSE CARPETS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 JUNE 2014

- 1 -

2014

2013

Notes

Fixed assets

Intangible assets

24,000

27,000

Tangible assets

23,966

21,370

47,966

48,370

Current assets

Stocks

92,000

107,500

Debtors

7,801

14,122

Cash at bank and in hand

334

500

100,135

122,122

Creditors: amounts falling due within one year

(123,199)

(149,392)

Net current liabilities

(23,064)

(27,270)

Total assets less current liabilities

24,902

21,100

Creditors: amounts falling due after more than one year

(13,481)

(12,287)

Provisions for liabilities

(4,793)

(3,221)

6,628

5,592

Capital and reserves

Called up share capital

100

Profit and loss account

6,528

5,492

Shareholders' funds

6,628

5,592

FINESSE CARPETS LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

30 JUNE 2014

- 2 -

For the financial year ended 30 June 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 November 2014

Mr D Cash

Mr T Porter

Director

Company Registration No. 04388832

FINESSE CARPETS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2014

- 3 -

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

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

1.5

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:

Fixtures, fittings & equipment

15% per annum reducing balance

Motor vehicles

25% per annum reducing balance

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 July 2013

60,000

47,850

107,850

Additions

16,692

Disposals

(16,852)

At 30 June 2014

60,000

47,690

107,690

Depreciation

At 1 July 2013

33,000

26,480

59,480

On disposals

(7,373)

Charge for the year

3,000

4,617

7,617

At 30 June 2014

36,000

23,724

59,724

Net book value

At 30 June 2014

24,000

23,966

47,966

At 30 June 2013

27,000

21,370

48,370

FINESSE CARPETS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2014

- 4 -

Share capital

2014

2013

Allotted, called up and fully paid

100 ordinary of £1 each

100