LIQUORMART_(JSA)_LTD - Accounts

LIQUORMART (JSA) LTD - Company Information

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Company Registration No. 04933190 (England and Wales)

LIQUORMART (JSA) LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2014

LIQUORMART (JSA) LTD

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

LIQUORMART (JSA) LTD

ABBREVIATED BALANCE SHEET

AS AT

31 OCTOBER 2014

- 1 -

2014

2013

Notes

Fixed assets

Intangible assets

45,000

50,000

Tangible assets

1,674

3,937

46,674

53,937

Current assets

Stocks

61,180

75,900

Debtors

105,996

156,641

Cash at bank and in hand

6,634

15,341

173,810

247,882

Creditors: amounts falling due within one year

(51,597)

(42,449)

Net current assets

122,213

205,433

Total assets less current liabilities

168,887

259,370

Creditors: amounts falling due after more than one year

(30,444)

(101,410)

Provisions for liabilities

(140)

(550)

138,303

157,410

Capital and reserves

Called up share capital

100

Profit and loss account

138,203

157,310

Shareholders' funds

138,303

157,410

LIQUORMART (JSA) LTD

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 OCTOBER 2014

- 2 -

For the financial year ended 31 October 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 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 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 15 May 2015

Mr Jhalman Atwal

Director

Company Registration No. 04933190

LIQUORMART (JSA) LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 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% on cost

Motor vehicles

25% on cost

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 November 2013 & at 31 October 2014

100,000

56,802

156,802

Depreciation

At 1 November 2013

50,000

52,865

102,865

Charge for the year

5,000

2,263

7,263

At 31 October 2014

55,000

55,128

110,128

Net book value

At 31 October 2014

45,000

1,674

46,674

At 31 October 2013

50,000

3,937

53,937

Share capital

2014

2013

Allotted, called up and fully paid

100 Ordinary Shares of £1 each

100

LIQUORMART (JSA) LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2014

- 4 -

Related party relationships and transactions

1. Advances and credits to directors

Advances and credits granted to the directors during the year are outlined in the table below:

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

Jhalman Atwal

23,765

The advance was unsecured , interest free and repayable on demand.