ACCOUNTS - Final Accounts preparation


6501602STOVE SOLUTIONS LIMITED2014-04-01truefalse2015-03-312015-03-3165016022014-04-012015-03-3165016022015-03-3165016022014-03-316501602 c:MotorVehicles 2014-04-012015-03-316501602 c:FixturesFittingsToolsEquipment 2014-04-012015-03-316501602 d:OrdinaryShareClass1 2015-03-316501602 d:OrdinaryShareClass1 2014-03-316501602 d:OrdinaryShareClass1 2014-04-012015-03-316501602 d:Director1 2014-04-012015-03-316501602 d:Director2 2014-04-012015-03-316501602 c:NetGoodwill 2014-04-012015-03-316501602 c:ProvisionsForDeferredTaxation 2014-03-31xbrli:sharesiso4217:GBP

Registered number: 6501602









STOVE SOLUTIONS LIMITED


UNAUDITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

 
STOVE SOLUTIONS LIMITED
REGISTERED NUMBER: 6501602

ABBREVIATED BALANCE SHEET
AS AT 31 MARCH 2015

2015
2014
Note
£
£
£
£
 
FIXED ASSETS





 
Intangible assets
 
2
54,000

60,000
 
Tangible assets
 
3
3,614
4,819







57,614

64,819
 
CURRENT ASSETS





 
Stocks
74,249
53,531

 
Debtors
16,724
9,259

 
Cash at bank and in hand
59,190
72,535







 
150,163
135,325
 
CREDITORS: amounts falling due within one year
(46,301)
(55,380)
 
NET CURRENT ASSETS

103,862

79,945
 
TOTAL ASSETS LESS CURRENT LIABILITIES
161,476
144,764
 
CREDITORS: amounts falling due after more than one year
(20,000)

(30,000)
 
PROVISIONS FOR LIABILITIES





 
Deferred tax
(723)
(796)

NET ASSETS



 140,753


 113,968
  
CAPITAL AND RESERVES

 
Called up share capital
4
100
100
 
Profit and loss account
140,653
113,868
 
SHAREHOLDERS' FUNDS
 

 140,753

 113,968


For the year ended 31 March 2015 the company was entitled to exemption from audit under section 480 of the Companies Act 2006.

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 Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit for the financial year, in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Page 1

 
STOVE SOLUTIONS LIMITED
 

ABBREVIATED BALANCE SHEET (continued)
AS AT 31 MARCH 2015

The abbreviated accounts, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf on 3 August 2015.





S J Keeble
Miss S J Tungate
Director
Director

The notes on pages 3 to 4 form part of these financial statements.

Page 2

 
STOVE SOLUTIONS LIMITED
 

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015

1.ACCOUNTING POLICIES

1.1
Basis of preparation of financial statements

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2
Turnover

Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

1.3
Intangible fixed assets and amortisation

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the identifiable assets and liabilities. It is amortised to the Profit and Loss Account over its estimated economic life.

1.4
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 of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Motor vehicles
-
25% reducing balance basis
Fixtures & fittings
-
25% reducing balance basis

1.5
Stocks and work in progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

1.6
Deferred taxation

Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation.

A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse.

Deferred tax assets and liabilities are not discounted.

Page 3

 
STOVE SOLUTIONS LIMITED
 

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015

2.INTANGIBLE FIXED ASSETS



£


Cost



At 1 April 2014 and 31 March 2015

120,000

Amortisation


At 1 April 2014
60,000

Charge for the year
6,000


At 31 March 2015

66,000




Net book value


At 31 March 2015
 54,000


At 31 March 2014

 60,000


3.TANGIBLE FIXED ASSETS



£


Cost 



At 1 April 2014 and 31 March 2015

14,956



Depreciation


At 1 April 2014
10,137

Charge for the year
1,205


At 31 March 2015

11,342




Net book value


At 31 March 2015
 3,614


At 31 March 2014

 4,819


4.SHARE CAPITAL
        2015
        2014
        £

        £

Allotted, called up and fully paid



100 Ordinary shares of £1 each
 100
 100

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