Sara Watts Limited - Limited company - abbreviated - 11.9

Sara Watts Limited - Limited company - abbreviated - 11.9


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REGISTERED NUMBER: 05356988 (England and Wales)















Abbreviated Accounts for the Year Ended 31 March 2015

for

Sara Watts Limited
Trading as
Edward Watts Opticians

Sara Watts Limited (Registered number: 05356988)
Trading as Edward Watts Opticians






Contents of the Abbreviated Accounts
for the Year Ended 31 March 2015




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

Sara Watts Limited
Trading as Edward Watts Opticians

Company Information
for the Year Ended 31 March 2015







DIRECTOR: Mrs S D Porter





SECRETARY: Streatham Secretarial Limited





REGISTERED OFFICE: Foresters Hall
25/27 Westow Street
Upper Norwood
London
SE19 3RY





REGISTERED NUMBER: 05356988 (England and Wales)





ACCOUNTANTS: Gibsons Financial Limited
Chartered Accountants
Foresters Hall
25/27 Westow Street
Upper Norwood
London
SE19 3RY

Sara Watts Limited (Registered number: 05356988)
Trading as Edward Watts Opticians

Abbreviated Balance Sheet
31 March 2015

31/3/15 31/3/14
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 2 151,200 165,600
Tangible assets 3 25,680 24,432
176,880 190,032

CURRENT ASSETS
Stocks 39,163 47,687
Debtors 23,262 38,812
Cash at bank and in hand 16,133 11,630
78,558 98,129
CREDITORS
Amounts falling due within one year 54,658 65,877
NET CURRENT ASSETS 23,900 32,252
TOTAL ASSETS LESS CURRENT
LIABILITIES

200,780

222,284

CREDITORS
Amounts falling due after more than one
year

(38,080
)
(62,228
)

PROVISIONS FOR LIABILITIES (4,050 ) (4,050 )
NET ASSETS 158,650 156,006

Sara Watts Limited (Registered number: 05356988)
Trading as Edward Watts Opticians

Abbreviated Balance Sheet - continued
31 March 2015

31/3/15 31/3/14
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 4 100 100
Profit and loss account 158,550 155,906
SHAREHOLDERS' FUNDS 158,650 156,006

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the
Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as
at the end of each financial year and of its profit or loss for each financial year in accordance with the
requirements of Sections 394 and 395 and which otherwise comply with the requirements of the
Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were approved by the director on 8 June 2015 and were signed by:





Mrs S D Porter - Director


Sara Watts Limited (Registered number: 05356988)
Trading as Edward Watts Opticians

Notes to the Abbreviated Accounts
for the Year Ended 31 March 2015

1. ACCOUNTING POLICIES

Accounting convention
The financial statements have been prepared under the historical cost convention and in accordance
with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures, fittings & equipt - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for
obsolete and slow moving items.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at
the balance sheet date.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.
Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held
under finance leases are depreciated over their estimated useful lives or the lease term, whichever is
the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant
period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the
company's pension scheme are charged to the profit and loss account in the period to which they
relate.

Sara Watts Limited (Registered number: 05356988)
Trading as Edward Watts Opticians

Notes to the Abbreviated Accounts - continued
for the Year Ended 31 March 2015

2. INTANGIBLE FIXED ASSETS
Total
£   
COST
At 1 April 2014
and 31 March 2015 288,000
AMORTISATION
At 1 April 2014 122,400
Amortisation for year 14,400
At 31 March 2015 136,800
NET BOOK VALUE

At 31 March 2015 151,200
At 31 March 2014 165,600

3. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 April 2014 60,171
Additions 5,780
At 31 March 2015 65,951
DEPRECIATION
At 1 April 2014 35,739
Charge for year 4,532
At 31 March 2015 40,271
NET BOOK VALUE
At 31 March 2015 25,680
At 31 March 2014 24,432

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/3/15 31/3/14
value: £    £   
100 Ordinary £1 100 100